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Shafaq News / On Tuesday, Basrah crude oil increased with a rise in global oil prices.Basrah Heavy crude surged by $0.80 to $80.99, and Basrah Medium climbed by $0.80 to $83.94.Globally, oil prices cl

Asian refiners expected hefty cuts in Saudi Aramco’s formula prices, however the ultimate price-slashing done by the Saudi national oil company might have surprised even the most ambitious among all buyers

Vessels carrying Russian crude which had been waiting for weeks to deliver their cargoes to Indian ports now are heading eastward to the Malacca Straits, says Kpler, an oil data intelligence provider

The Dubai futures contract moved into contango this month, for the first time in three years, with spot-traded medium sour grades across the Middle East continuing their decline amidst increasing availability and slackening demand.

Nigeria is leading a resistance to the demand by Saudi Arabia asking others in the OPEC coalition to reduce their oil production quotas in a bid to shore up

With futures well down from September highs, widely watched timespreads for global benchmark Brent and U.S. counterpart West Texas Intermediate have softened, signaling ample supply, while U.S. stockpiles have jumped.

ALBAWABA – Oil prices dropped on Monday ahead of the meeting of the Organization of Petroleum Exporting Countries and its allies (OPEC+) Thursday

The latest oil and gas news, dedicated to all things oil and gas: people, technologies, transactions, trends, and macro-economic analysis that impact commodity prices.

Over the past month, oil prices have shed some $10 per barrel and WTI even started to see contango as market sentiment soured, developments that will inevitably lead to lower Middle East OSPs in December

Crude prices have continued to see support from ongoing tensions in the Middle East, and despite a reversal in crude prices, the overall supply picture remains tight