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Oil saving win-win drives Saudi solar boomA slide in solar power costs and a surge in oil prices over the last few years has made solar power a win-win strategy for Saudi Arabia: saving billions of dollars of crude for export while making electricity at less than half the cost, said exp More… |
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Saudi oil exports plunge in MarchSaudi crude exports fell to 7.42 million barrels per day (bpd) in March, 34,000 bpd less than in February, as Saudi power sector oil use rose and output edged lower, official figures released via the Joint Oil Data Initiative (JODI) show. More… |
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Crude rallies after Israel hits Syrian targetsCrude futures rallied in Asia early on Monday due to geopolitical tensions in the oil-producing Middle East after Israel carried out a second air strike in Syria. The rally extended gains from better-than-expected job growth in th More… |
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Brent falls 7pc in April on economy woesBrent crude benchmark fell more than 7 percent during April, its biggest monthly decline in 11 months, hurt by economic indicators in recent weeks suggesting the global economy remains in a fragile state. Brent crude futures below More… |
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Brent climbs above $100 after selloffBrent crude rebounded above $100 per barrel on Wednesday as a steep drop over the past five sessions attracted bargain hunters, while hopes the US Federal Reserve will maintain its monetary stimulus after recent weak data also supported prices. More… |
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Falling oil prices to test Saudi policySaudi officials should welcome the recent decline in oil prices, which takes benchmark Brent close to the level of $100 per barrel that everyone from the kingdom's oil minister down has said is "reasonable" for bo More… |
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DME drops fuel oil plans to focus on crudeThe Dubai Mercantile Exchange (DME) has dropped plans to offer fuel oil trading to focus on increasing volumes of its Oman crude oil futures to the point where big Gulf oil producers want to price off them, the DME's chief More… |
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Brent recovers from steep drop, stays at $107Brent crude edged up above $107 on Thursday after its biggest fall in five months in the previous session, but prices stayed close to this year's low, as weak data and swelling inventories in top consumer the US muddied the More… |
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Japan slashes Iran crude importsJapan's crude oil imports from Iran fell nearly a third in February from the same month a year earlier, trade ministry data showed on Friday, as tougher western sanctions targeting payments and insurance appeared to bite. Impo More… |
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Turkey sees big jump in Iran crude importsTurkey imported nearly 147,000 barrels per day (bpd) of Iranian crude oil in January, a jump of 78 percent from December, data from the country's energy watchdog showed on Wednesday. Iranian crude imports were at 612,548 tonne More… |
