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There are several bullish factors that should push oil prices higher in 2023, and one of the principal ones is soaring Chinese demand

As we head into the first month of 2023 in an ambivalent environment where supply tightness and recession fears pull the markets in different directions, Middle East oil producers proceed with caution

Following a year of rising crude demand and tight supply, the crude futures market is now pointing at oversupply, and many Middle East producers will be forced to slash premiums again

SINGAPORE: Kuwait dropped the official selling price for one of two crude grades it sells to Asia in December from the previous month, a price document reviewed by Reuters showed on Monday. The producer has set the December Kuwait Export Crude price at $3.20 a barrel above the average of Oman/Dubai quotes, down 80 cents from the previous month. It also set the December Kuwait

Saudi Aramco cut the price of its key Arab Light grade for December sales to Asia by 40 cents to $5.45 a barrel above the regional benchmark.

Saudi Aramco cut the price of its key Arab Light grade for December sales

Saudi Arabia lowered most of its oil prices for its main market of Asia in a sign of weakening with the global economic slowdown. State-controlled Saudi Aramco cut the price of its key Arab Light grade for December sales to Asia by 40 cents to $5.45 a barrel above the…

Top oil exporter Saudi Arabia may cut the prices of most crude grades to Asia in December as weaker-than-expected fuel consumption in China

SINGAPORE: Top oil exporter Saudi Arabia may cut the prices of most crude grades to Asia in December as weaker-than-expected fuel consumption in China amid its strict COVID-19 rules put a lid on regional demand, trade sources said. State oil giant Saudi Aramco may lower the official selling price for its flagship Arab Light crude by about 30 to 40 cents per barrel in December,

While the OPEC+ output cut would warrant a further hike in OSPs, recession fears continue to spook traders and producers alike, and especially Middle East producers are cautious when it comes to aggressive price hikes