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Saudi Aramco to prioritize energy supply to China for 50 yrs, says CEO

Muyu Xu and Florence Tan, Reuters
Posted at Mar 22 09:01 AM

Saudi Arabia, the world's biggest oil exporter, retained its position as China's top supplier in the first two months this year, with volumes up 2.1 percent to 1.86 million barrels per day (bpd), China customs data showed on Saturday. Read more »

Saudi oil giant Aramco to scale back spending after 2020 profit slump

Hadeel Al Sayegh, Saeed Azhar and Yousef Saba, Reuters
Posted at Mar 22 08:59 AM

Saudi Arabian state oil giant Aramco is betting on an Asian-led rebound in energy demand this year after it reported a steep slide in net profit for 2020 on Sunday and scaled back its spending plans.   Read more »

OPEC+ maintains caution on output despite market recovery

Benoît Pelegrin, Agence France-Presse
Updated as of Mar 05 09:05 AM

The OPEC group of oil producers and its allies decided after talks on Thursday to allow only a slight rise in crude output despite a recovery in prices, amounting to less than a third of the output boost market observers had predicted. Read more »

OPEC throttles output in May

Agence France-Presse
Posted at Jun 17 10:36 PM

Major oil producers sharply cut back output in May, data showed on Wednesday, as part of a concerted effort to prop up prices that have fallen dramatically in the wake of the global coronavirus pandemic. Read more »

Saudi to hike April crude supply to 12.3 million bpd -Aramco CEO

Reuters
Posted at Mar 10 05:54 PM

Saudi Aramco will raise its crude supply, which includes oil to its customers inside the kingdom and abroad, to 12.3 million barrels per day (bpd) in April, CEO Amin Nasser said on Tuesday. Read more »

Think Tank: Asia vulnerable in event of severe oil supply disruption

ABS-CBN News
Posted at Jan 17 06:07 PM

The Economist Intelligence Unit's Lead Energy Analyst, Peter Kiernan, believes Asia will be severely affected if an oil supply disruption happens due to the tensions in the Middle East. Read more »

UAE energy minister sees no immediate risk to oil flow through Strait of Hormuz

Rania El Gamal and Dahlia Nehme, Reuters
Posted at Jan 08 04:44 PM

ABU DHABI - The United Arab Emirates' energy minister said on Wednesday he saw no immediate risk to oil passing through the vital gateway of the Strait of Hormuz after Iran attacked bases housing US forces in Iraq.   Read more »

Oil price spike seen 'secondary' to inflation data in BSP rate-setting meeting

ABS-CBN News
Posted at Sep 18 02:41 PM

The most important piece of information for policy decision is the forecasted inflation rate in September, BSP Governor Benjamin Diokno told ABS-CBN News. Read more »