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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