Demand for Saudi crude is likely to rise over the next few months, Saudi oil minister Ali Al-Naimi told Reuters on Monday, in a sign the world's largest oil exporter sees a recovery of demand in Asia, its biggest export market.
Saudi Arabia expects to raise its oil output in the second quarter to satisfy higher demand from China and feed economic recovery elsewhere, oil industry sources said.
The world's largest oil exporter kept production steady at
Chinese refiners have finalised annual crude oil supply deals for next year with Opec producer Kuwait at volumes steady with this year, around 250,000 barrels per day, two trading executives told Reuters on Thursday.
The figure is
Iranian parliamentarians have prepared a draft law to reduce the country's crude exports by up to a third this year in retaliation for western sanctions against Iran's oil sector, the semi-official Fars news agency said on Wednesday.
India's HMEL, part-owned by steel tycoon Lakshmi Mittal, has emerged as a new oil client of sanctions-hit Iran, potentially complicating New Delhi's bid for a renewal of its waiver from US sanctions for buying crude from Tehran.
Iran is in talks to sell crude oil to Egypt, Iranian Oil Minister Rostam Qasemi was quoted as saying by the Iranian Students' News Agency (ISNA) on Monday.
Iran has been looking for new buyers for its oil as western sanctions
More than 100 water and energy experts discussed techniques for increasing the amount of crude oil that can be extracted from existing fields while managing limited water availability at a major seminar that concluded in Dubai today (May 23).
Italy raised crude oil imports from Iran by about 6 per cent in March from February ahead of the planned new sanctions against Tehran, while total crude import fell amid weak demand for refined oil products, said a report.
Italy, which rel
Iraq's crude oil exports rose to 2.508 million barrels per day (bpd) in April from 2.317 million bpd in March as new offshore export terminals helped increase sales, the head of the State Oil Marketing Organisation (Somo) said on Tuesday.
The MT Tour tanker carrying Syrian crude oil dropped anchor in the Strait of Hormuz near the Iranian port of Bandar Abbas over the weekend, AIS Live ship tracking data on Reuters showed on Sunday.
Syria, a sm