Global oil consumption from transportation fuels in March was still 5.2 million barrels per day (mb/d) below where it was before the Covid-19 pandemic ...
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The crude oil market was bullish on Monday on the back of a weaker United States Dollar and disruption to the supply of the commodity in Libya, even as worries persist over rising coronavirus cases in Europe, South Asia and Latin America. ...
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Share markets in the Gulf were mixed on Tuesday, with the Dubai index hit by stocks trading ex-dividend. ...
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Oil rose to $68 a barrel and hit its highest in a month on Tuesday, supported by a disruption to Libyan exports and expectations of a drop in U.S. crude inventories, although rising coronavirus cases in Asia limited gains. ...
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Saudi Arabia’s crude oil exports fell to their lowest in eight months in February, the Joint Organisations Data Initiative (JODI) said on Monday, as the world’s biggest oil exporter voluntarily capped output to support oil prices. ...
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Dubai — Saudi Arabia drew again on its crude stockpiles in February, while exports fell, reflecting the impact of its voluntary 1 million b/d production cut in addition to its OPEC+ production quota, figures from the Joint Organizations Data Initiative showed. ...
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Essar Oil UK, operator of the 204,000 b/d Stanlow refinery in northwest England, said it is in talks with potential finance providers after a bank changed the terms of a credit facility, causing it some short-term financial difficulty. ...
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Dubai — High sulfur fuel oil premiums in Fujairah over Singapore have climbed to a record this month, with more product heading to Asia before the big power demand season in the Middle East when air conditioners are cranked up to beat the summer heat. ...
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Oil product inventories at the UAE's Port of Fujairah climbed to a five-week high led by a record increase in fuel oils for power generation and marine bunkers. Total stockpiles stood at 20.77 million barrels as of April 5, up 7.7 percent from a week earlier and the highest since 1st March, according to Fujairah Oil Industry Zone data released Wednesday exclusively to S&P Global Platts. ...
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Top oil exporter Saudi Arabia has yet to demonstrate a curb in supply as large as its promised voluntary production cut, according to two companies that track oil flows, a view dismissed by Riyadh which says it is reliable. ...
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Saudi Arabia will extend ongoing restrictions on gatherings, entertainment activities and events by another 20 days in response to a worsening of the Covid-19 situation in some regions of the kingdom. ...
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The UK's economy contracted by a record 9.9pc last year as a result of the Covid-19 pandemic, the Office for National Statistics said today. ...
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Bahrain has reintroduced a host of new, more strict, Covid-19-related restrictions starting today in an effort to contain the spread of the virus following a sharp rise in daily cases since late January. ...
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Saudi Arabia's crude oil exports rose for a fifth consecutive month to a seven-month peak of 6.35 million barrels per day (bpd) in November 2020, official data showed on Wednesday. ...
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Saudi Arabia's crude exports rose to a seven-month high in November and, with production capped by the OPEC+ agreement, domestic stockpiles ended the month at a 17-year low, according to data from the Joint Organisations Data Initiative. ...
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Russia has held its position as the world's second-largest crude oil producer for the seventh month in a row, according to November figures published by the Joint Organisations Data Initiative (JODI) on Wednesday. ...
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Saudi Arabia will remove all restrictions on movement in and out of the country from 31 March in a move that should boost regional demand for transport fuels — none more so than for jet fuel, which has been most impacted by the Covid-19 virus and the restrictions that have been imposed globally to curb its spread. ...
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Saudi Arabia’s $3 billion insurance premium to protect against falling oil prices will end up being a lot smaller than it seems at first sight. That holds even if demand turns out to be stronger than the kingdom seems to fear. ...
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The UK government today tightened lockdown restrictions in England as the Covid-19 pandemic worsens, with the new measures likely to be in place until at least mid-February. ...
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Saudi Arabia has extended a ban on movement in and out of the country for another week amid lingering fears over the spread of new, more infectious strains of the Covid-19 virus. ...
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The Organisation of the Petroleum Exporting Countries (OPEC) has said the global oil sector will need a cumulative investment of $12.6 trillion in the upstream, midstream and downstream through to 2045. ...
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Saudi Arabia’s oil exports increased in October for the fourth month in a row, hitting the highest level in five months. ...
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The UK's transport ministry has announced new quarantine rules, potentially providing a much-needed boost to the country's air travel demand. ...
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Saudi Arabia's middle distillate production in September fell 18% year on year -- marking its lowest level in seven months -- as domestic refiners reduced run rates amid sluggish demand, data from the Joint Organisations Data Initiative showed. ...
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Russia has held its position as the world's second-largest crude oil producer for the fifth month in a row, according to September figures published by the Joint Organisations Data Initiative (JODI) on Wednesday ...
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