Oil Market Strains Emerge
Europe intensified its competition for oil with Asia.
Source: rigzone.com
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Russian crude not suitable for refining in Bangladesh, state minister says
Russian crude not suitable for refining in Bangladesh, state minister says
Source: bdnews24.com
ADNOC's Fujairah crude oil storage caverns set to open in 2023: sources | Hellenic Shipping News Worldwide
Abu Dhabi’s national oil company, ADNOC, is set to open its giant crude oil caverns in the mountains of Fujairah next year, one year later than planned, according to people with knowledge of the project. The project, which will have capacity to hold 42 million barrels of crude oil, was pushed back because of COVID-19 ...
Source: hellenicshippingnews.com
Middle East Producers Move To Cut Prices As Extreme Backwardation Eases
Middle Eastern oil producers lowered their official selling prices as lockdowns in China continued to suppress demand and backwardation eased across all pricing benchmarks
Source: oilprice.com
UAE sending crude to Europe for first time in 2 years
The United Arab Emirates has resumed oil supplies to Europe, amid the refusal of local importers to buy Russian raw materials due to the war in Ukraine, Bloomberg reports. According to the report,...
Source: middleeastmonitor.com