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Top related persons:
Brent - 1 Alexander Novak - 1 Saudi Arabian Energy Minister Prince Abdulaziz bin Salman - 1 John Kilduff - 1 Baker Hughes - 1 Klaas Knot - 1
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Search resuls for: "Saudi Arabian Energy Minister Prince Abdulaziz bin Salman"


11 mentions found


☆ Factbox: What have OPEC+ producers said ahead of June oil policy meeting?
  + stars: | 2023-05-30 | by ( ) www.reuters.com   time to read: +3 min
LONDON, May 30 (Reuters) - Mixed signals by major OPEC producers and their main allies have sparked volatility in oil prices ahead of an OPEC+ oil policy meeting set to take place this weekend. Russian Deputy Prime Minister Alexander Novak said on Thursday he expected no new steps from OPEC+ in Vienna, Russian media reported. Novak later added in a statement that OPEC+ would make a decision on what is best for the oil market. Three sources with knowledge of current Russian thinking told Reuters last week Russia is leaning towards leaving oil production volumes unchanged. IRANIranian President Ebrahim Raisi told the secretary general of OPEC on Saturday that he hopes oil producers can calm the market, calling for the unity of OPEC members, Iranian media reported.
☆ Oil prices rise as US closes in on debt deal
  + stars: | 2023-05-26 | by ( ) www.cnbc.com   time to read: +2 min
Oil prices ticked up on Friday as U.S. officials appeared close to striking a debt ceiling deal, and as the market weighed conflicting messages on supply from Russia and Saudi Arabia ahead of the next OPEC+ policy meeting. Russia was leaning towards leaving oil production volumes unchanged because Moscow is content with current prices and output, three sources with knowledge of current Russian thinking told Reuters. Bets on falling oil prices have risen. On the supply side, U.S. oil rigs fell five to 570 this week, according to a report from energy services firm Baker Hughes Co. In May, the oil count fell by 21 rigs, which was the biggest monthly drop since June 2020.
Persons: Brent, Alexander Novak, Saudi Arabian Energy Minister Prince Abdulaziz bin Salman, John Kilduff, Baker Hughes, Klaas Knot Organizations: . West Texas Intermediate, U.S, Biden, Saudi Arabian Energy Minister, Organization of Petroleum Exporting, OPEC, Again, AAA, Dutch Central Bank, European Central Bank Locations: Russia, Saudi Arabia, Vienna, Moscow, U.S, Europe
☆ OPEC+ decisions not politicised, Saudi energy minister says
  + stars: | 2023-02-20 | by ( ) www.reuters.com   time to read: 1 min
RIYADH, Feb 20 (Reuters) - Decisions by OPEC+ are not politicised and are based on market fundamentals, Saudi Arabian energy minister Prince Abdulaziz bin Salman said on Monday, adding that the alliance of oil producers is sufficiently flexible to adjust policy as needed. Prince Abdulaziz was speaking at a media forum in the capital Riyadh about last October's decision to cut the group's production target by 2 million barrels per day. The group comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia agreed the cuts until the end of 2023. Prince Abdulaziz reiterated in an interview with Energy Aspects last week that the decision was locked in for the rest of the year. Reporting by Aziz El Yaakoubi Editing by Kirsten Donovan and David GoodmanOur Standards: The Thomson Reuters Trust Principles.
☆ Oil inches up amid wrangling over Russian oil price cap
  + stars: | 2022-11-25 | by ( Sonali Paul | Mohi Narayan | ) www.reuters.com   time to read: +2 min
MELBOURNE, Nov 25 (Reuters) - Oil rose in early trade on Friday, trimming some of the week's losses which have been driven by worries about Chinese demand and expectations a high price cap planned by the Group of Seven (G7) nations on Russian oil will keep supply flowing. Brent crude futures inched up 13 cents, or 0.2%, to trade at $85.47 a barrel at 0121 GMT. G7 and European Union diplomats have been discussing a price cap on Russian oil of between $65 and $70 a barrel, with the aim of limiting revenue to fund Moscow's military offensive in Ukraine without disrupting global oil markets. Russian President Vladimir Putin has said Moscow will not supply oil and gas to any countries that join in imposing the price cap, which the Kremlin reiterated on Thursday. "This remains a headwind for oil demand that, combined with weakness in the U.S. dollar, is creating a negative backdrop for oil prices," ANZ said in a separate commodity note.
☆ Oil rises as Saudi comments outweigh recession concerns
  + stars: | 2022-11-22 | by ( Alex Lawler | ) www.reuters.com   time to read: +2 min
"Crude oil prices are trying to recover their losses," said Avatrade analyst Naeem Aslam. "That Saudi Arabia has denied there was any discussion about an increase in oil supply with OPEC and its allies has supported the market today." On Dec. 5. a European Union ban on Russian crude imports is set to start, as is a G7 plan that will allow shipping services providers to help to export Russian oil, but only at enforced low prices. Concerns over oil demand in the face of the U.S. Federal Reserve's interest rate hikes and China's strict COVID lockdown policies limited the upside. Additional reporting by Laura Sanicola and Isabel Kua Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.
☆ Oil prices edge up as softer dollar outweighs China demand concerns
  + stars: | 2022-11-22 | by ( Isabel Kua | ) www.reuters.com   time to read: +3 min
SINGAPORE, Nov 22 (Reuters) - Oil prices inched higher on Tuesday as the dollar eased, but global recession worries and concerns about China's rising COVID-19 case numbers denting demand from the world's top crude oil importer weighed on sentiment. Brent crude futures rose 44 cents, or 0.5%, to $87.89 by 0513 GMT. U.S. West Texas Intermediate (WTI) crude futures for January began trading Tuesday, rising 30 cents, or 0.4%, to $80.34 a barrel. In the United States, crude oil stocks were estimated to have dropped by about 2.2 million barrels in the week to Nov. 18, a preliminary Reuters poll showed on Monday. The front-month Brent crude futures spread narrowed sharply last week, while WTI flipped into contango, which suggests supply concerns are easing.
☆ Oil rises after Saudis deny report of OPEC+ supply increase
  + stars: | 2022-11-22 | by ( Laura Sanicola | Thomson Reuters | Reports On Oil | ) www.reuters.com   time to read: +1 min
Nov 22 (Reuters) - Oil prices rose slightly in early Asian trade on Tuesday, a day after Saudi Arabia denied a media report that it was discussing an increase in oil supply with OPEC and its allies. Brent crude futures rose 17 cents, or 0.2%, to $87.62 by 0007 GMT. U.S. West Texas Intermediate (WTI) crude futures for January began trading Tuesday, rising 7 cents, or 0.1%, to $80.11 a barrel. Prices rebounded quickly in full after Saudi Arabian energy minister Prince Abdulaziz bin Salman said the kingdom is sticking with output cuts and not discussing a potential oil output increase with other OPEC oil producers, state news agency SPA reported, denying the WSJ report. The front-month Brent crude futures spread narrowed sharply last week, while WTI flipped into contango, reflecting easing supply concerns.
☆ Oil rebounds from early plunge after Saudis deny OPEC+ output report
  + stars: | 2022-11-21 | by ( Laila Kearney | ) www.reuters.com   time to read: +3 min
Brent crude futures for January settled at $87.45, shedding 17 cents. U.S. West Texas Intermediate (WTI) crude futures for December settled at $79.73 a barrel, falling 35 cents ahead of the contract's expiry later on Monday. Oil then retraced its losses after Saudi Arabian energy minister Prince Abdulaziz bin Salman said the kingdom is sticking with output cuts and not discussing a potential oil output increase with other OPEC oil producers, state news agency SPA reported, denying the Journal report. Expectations of further increases to interest rates have buoyed the greenback, making dollar-denominated commodities like crude more expensive for investors. The front-month Brent crude futures spread narrowed sharply last week while WTI flipped into contango, reflecting dwindling supply concerns.
☆ Oil prices rebound from early dive as reports vary on OPEC+ output
  + stars: | 2022-11-21 | by ( Laila Kearney | ) www.reuters.com   time to read: +3 min
Brent crude futures for January fell 77 cents, or 0.9%, to $86.85 a barrel by 12:54 p.m. EST (1754 GMT) . U.S. West Texas Intermediate (WTI) crude futures for December were down 58 cents, or 0.7%, at $79.50 ahead of the contract's expiry later on Monday. Oil retraced most losses after Saudi Arabian energy minister Prince Abdulaziz bin Salman said the kingdom is not discussing a potential oil output increase with other OPEC oil producers, state news agency SPA reported, denying the Journal report. Expectations of further increases to interest rates have buoyed the greenback, making dollar-denominated commodities like crude more expensive for investors. The front-month Brent crude futures spread narrowed sharply last week while WTI flipped into contango, reflecting dwindling supply concerns.
☆ Saudi denies oil output hike discussion, says OPEC+ may cut if needed
  + stars: | 2022-11-21 | by ( ) www.reuters.com   time to read: +2 min
The Wall Street Journal earlier on Monday reported an output increase of 500,000 barrels per day was under discussion for the next meeting of OPEC and its allies, known as OPEC+, on Dec. 4. Oil prices, which had slid more than 5% to below $83 a barrel after the Wall Street Journal report , pared losses following the minister's comments. Last month, OPEC+ unexpectedly decided to reduce output targets sharply. It would be unusual for the group to increase production at a time of declining prices and growing concern about the economic outlook. Prince Abdulaziz was also quoted as saying OPEC+ was ready to reduce output further if needed.
☆ Saudi energy minister denies output increase discussion -state news agency
  + stars: | 2022-11-21 | by ( ) www.reuters.com   time to read: 1 min
DUBAI, Nov 21 (Reuters) - Saudi Arabian energy minister Prince Abdulaziz bin Salman said the kingdom is not discussing a potential oil output increase with other OPEC oil producers, state news agency SPA reported, denying a Wall Street Journal report earlier on Monday. "It is well-known that OPEC+ does not discuss any decisions ahead of the meeting," the prince was quoted as saying, referring to the group's next meeting in December. "The current cut of 2 million barrels per day by OPEC+ continues until the end of 2023 and if there is need to take further measures by reducing production to balance supply and demand we always remain ready to intervene." Reporting by Maha El Dahan Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.
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