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Saudi Arabia cuts oil prices for Asia as India battles virus


6 May in 1:00
Yahoo Finance
Saudi Arabia lowered oil prices for customers in its main market of Asia as a surge in coronavirus cases crimps demand in India, the world’s third-largest crude importer 
(
According to
Yahoo Finance, the kingdom’s state energy firm, Saudi Aramco, reduced pricing for June shipments to the continent by between 10 and 30 cents per barrel. The key Arab Light grade for Asia was cut to $1.70 a barrel above the benchmark from $1.80 for May. That’s the first reduction in official selling prices for the grade since December, signaling weakness in Asian oil markets.
The reductions had been anticipated in the market. Aramco had been expected to lower Arab Light’s premium by 20 cents, according to a Bloomberg survey of seven traders and refiners. Saudi Energy Minister Prince Abdulaziz bin Salman has urged fellow members of OPEC+ to be cautious as the group eases supply cuts started last year when the pandemic was hammering ene ....

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Saudi oil firm Aramco's first-quarter profits up by 30% - New Delhi Times - India's Only International Newspaper


May 4, 2021
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Saudi Aramco said Tuesday its profits soared by 30% in the first-quarter of the year, compared to last year, riding on the back of higher crude oil prices. The results come as some of the world’s biggest economies are clawing their way out of recession and easing restrictions amid vaccine rollouts against COVID-19.
The company’s financial results show a net income of $21.7 billion for the first three months of the year, compared to the same period in 2020 when Aramco’s earnings plunged to $16.7 billion as the early effects of the coronavirus pandemic were beginning to dramatically drive down global demand for oil. Brent crude plummeted to around $20 a barrel at its lowest point last year. ....

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Saudi oil firm Aramco's first-quarter profits up by 30% | iNFOnews | Thompson-Okanagan's News Source


Aya Batrawy
FILE- In this Dec. 12, 2019, file photo, a trader talks to others in front of a screen displaying Saudi stock market values at the Arab National Bank in Riyadh, Saudi Arabia. Saudi Aramco said Tuesday, May 4, 2021, it s profits soared by 30% for the first-quarter of the year, compared to last year, riding on the back of higher crude oil prices as some of the world s biggest economies claw their way out of recession and ease restrictions amid vaccine roll-outs against COVID-19.(AP Photo/Amr Nabil, File)
May 04, 2021 - 12:07 PM
DUBAI, United Arab Emirates - Saudi Aramco said Tuesday its profits soared by 30% in the first quarter of the year, compared to last year, riding on the back of higher crude oil prices. The results come as some of the world s biggest economies are clawing their way out of recession and easing restrictions amid vaccine rollouts against COVID-19. ....

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Saudi Aramco has stellar first quarter, as profits soar by 30%


Saudi Aramco said on Tuesday its profits soared by 30 percent in the first quarter of the year, compared with last year, riding on the back of higher crude oil prices. The results come as some of the world’s biggest economies are clawing their way out of recession and easing restrictions amid vaccine rollouts against COVID-19.
The company’s financial results show a net income of $21.7bn for the first three months of the year, compared with the same period in 2020 when Aramco’s earnings plunged to $16.7bn as the early effects of the coronavirus pandemic were beginning to dramatically drive down global demand for oil. Brent crude plummeted to about $20 a barrel at its lowest point last year. ....

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