Saudi Arabia reassures Canada on oil supply in row over jailed activists

A row over human rights in Saudi Arabia will not have any impact on Saudi oil supplies to Canada, its energy minister said on Thursday, reassuring customers after Riyadh froze new trade with Canada and ruled out mediation efforts. Saudi Arabia, angered by Canada’s demand last week that jailed activists in the kingdom be freed
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The key OPEC oil producers seem to be finding it harder than expected to sell their output overseas. The probable resulting build-up in their stockpiles should at least help them offset the drop in Iranian supplies as U.S. sanctions start to bite deeper. Crude oil exports from the five Persian Gulf Arab members of OPEC
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Seven Saudi tankers appear to have shut off their transponders that make their position visible to the world after last week’s Houthi attack on two VLCCs in the Red Sea, according to S&P Global Platts trade flow software cFlow. Two unnamed Saudi-owned VLCCs were attacked off the west coast of Yemen last week, prompting state-owned
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Saudi Arabia expects its crude exports to drop by roughly 100,000 barrels per day in August as the world’s top oil exporter works to ensure it does not push oil into the market beyond its customers’ needs, the kingdom’s OPEC governor said on Thursday. Adeeb Al-Aama said in a statement that Saudi Arabia’s crude oil
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 Saudi Arabia has banned frozen and processed fruit and vegetable imports from Kerala amid concerns over the deadly Nipah virus outbreak. On May 29, the United Arab Emirates (UAE) banned imports from Kerala. UAE officials announced that 100 tonnes of fruit, vegetables and fresh produce that was to be imported from Kerala was prohibited from
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Asian sour crude traders hold vastly differing opinions on how the next round of official selling prices will fare at the end of a tricky month in the Middle East sour crude market, they told S&P Global Platts on Thursday. “It could go both ways,” a north Asian refiner said of the situation. “[The OSPs]
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Oil fell by more than 2 percent on Monday, pressured by a rise in Russian production, expectations that Saudi Arabia will cut prices of the crude it sends to Asia and a deepening trade spat between China and the United States. Brent crude LCOc1 fell $1.70, or 2.5 percent, to settle at $67.64 a barrel.
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Two years ago, in February 2016, the price of oil was in the low $30 per barrel range. Predictions of doom and gloom abounded. At that time, the IEA warned that, “Unless something changes, the oil market could drown in over-supply.” One third of all oil companies were at risk of bankruptcy. Economic indicators from
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Oil rose on Monday, hitting three-week highs, supported by strong U.S. demand and comments from Saudi Arabia that it would continue to curb production in line with OPEC-led efforts. Brent crude rose 19 cents to settle at $67.50 a barrel. During the session, it hit a three-week high of $67.90. U.S. West Texas Intermediate futures
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Diesel and jet fuel exports from the Middle East will stop growing in 2018, according to ESAI Energy’s recently published Middle East Watch Products. Saudi Arabia, the biggest distillate exporter in the region, will export a similar amount as it did last year, marking a departure from four consecutive years of export growth. This will
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