Tag: Saudi Arabia
Supply Cuts Hit Oil Tanker Market Badly
Saudi Arabia’s oil production cuts have hit the tanker market so hard that owners of the biggest vessels effectively subsidize cargo deliveries on...
Oil Prices Drops 1% Over New Strain COVID Surge Ending Price...
Oil prices fell on Monday, extending losses that last week ended a rally driven by production cuts and strong Chinese demand, with the market’s...
Crude Oil Production Cut Down Slows Down Tanker Recover To Second...
According to a Freight Waves article written by their Senior Editor Greg Miller, Analysts have warned that the tanker recovery will be a distant...
Ton-mile Demand For Oil Tankers Plunge Due To OPEC Restrictions
Ton-mile demand, a proxy for demand for oil tankers has slumped by 18.6 percent.
It has dropped to a three-decade low.
Exports were...
China’s Swelling Storage Tanks Pose Competition for OPEC
China’s swelling storage tanks are finding its way back into the international market.
Traders jump at the opportunity to source cheap crude for...
Fuel Oil Exports Decline To a Record Low
Fuel oil in floating storage estimated at 53 mil barrels.
Fujairah supplies set for 'seasonal pull' from Saudi Arabia: Kpler.
Bunker fuel demand...
Oil Prices Are Surging Ahead After Historical Lows!
Oil prices are surging, up about 70% in New York since the start of May.
OPEC+ production cuts have lifted the market out...
OPEC Nations Turning To IMF for Emergency Loans
OPEC cartel leader Saudi Arabia is cutting subsidies and raising taxes.
Resource-rich nations turned to IMF as oil prices hover just north of...
OPEC+ Cuts Down Crude Oil Production by 9.7Million BPD
OPEC+ is on the way to trimming 9.7 million barrels of daily crude output.
Oil prices have recovered by 60% in the past...
Pressure on Global Crude Oil Pricing!
Oil prices turned negative as optimism that had previously supported prices began to fade.
Earlier oil moved higher on several bullish factors, including...