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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.
Kuwait Petroleum Corporation informed some buyers that Kuwait Export Blend crude supply could be reduced under new annual contracts as soon as April, according to Reuters.
Kuwait has revised up its budget assumptions for the current 2022-23 fiscal year (from 1 April 2022) with headline revenues now expected to come in some KD...
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
KIPIC has begun test runs on the first CDU at its giant Al-Zour refinery, in Kuwait, with the second and third due later this year.