Page 9 - Arab Medium News Today

Saudi Aramco raised official selling prices across the board for April-loading cargoes, with Asia-bound barrels seeing the largest increases between $2.15/b and $2.70/b, according to a pricing document released by Saudi Aramco on March 4. The stronger OSPs follow the recent rally in crude futures prices, including the Dubai sour complex, which have jumped following ...

Top oil exporter Saudi Arabiamay sharply hike prices of crude for Asia in April, trade sources said on Wednesday, with differentials for most grades hitting all-time highs as global supplies tighten over financing and shipping issues from sanctions on Russia. The official selling price (OSP) for Saudi’s flagship Arab Light crude may rise to a ...

Iranian nuclear deal negotiators appear close to clinching a deal, bringing the prospect of significant supplies coming on to a tightening oil market and intensified intra-OPEC+ competition. Both sides have signaled that an agreement could come within days. Iran’s foreign ministry said Feb. 21 the negotiations had progressed considerably, with two or three remaining issues ...

Middle Eastern producers hiked oil prices for March as global inventories tighten and the disparity between OPEC’s self-reported production and third-party assessments widens

Asian refiners were disappointed once again by Middle Eastern official selling prices, with a lower-than-expected reduction likely to drive the refiners to the spot market

Major state-run and private refiners across Asia are planning to trim their term crude oil purchases but conduct more spot market trades in 2022 in an effort to flexibly manage both global demand and supply risks that could emerge and evolve during the prolonged coronavirus pandemic. Refiners across Northeast, Southeast and South Asia were generally ...

South Korea’s imports of US crude oil are estimated to have to surpassed 120 million barrels in 2021, and the country is expected to maintain its top Asian US crude buyer status in 2022 as local refiners greatly favor North American feedstocks due to uncertainties over OPEC supply and attractive procurement costs. The country’s major ...

Top oil exporter Saudi Arabia may implement deep price cuts for the crude it sells to Asia in February after Middle East benchmarks and spot prices slumped this month, industry sources said. The producer is expected to cut official selling prices (OSPs) of all grades by more than $1 in February from the previous month, ...

Asias demand is set to slow as refineries prepare for seasonal maintenance in the second quarter

South Korea’s crude oil imports in November rose 14.2% from a year earlier, as local refiners raised crude throughput to meet improved consumer fuel demand, but spot crude cargo purchases for Q1 2022 could slip if Seoul reimposes COVID-19 restrictions for a prolonged period of time, refining industry and trading participants said Dec. 21. The ...