Saudi Aramco returns to debt market with dollar bond sale

Saudi state oil giant Aramco made its return to the debt market after a three-year hiatus, joining top companies and governments in the Gulf that have tapped markets this year to fund investments

OPEC+ extends deep oil production cuts into 2025

OPEC+ agreed to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival U.S. production

Saudi Arabia may announce landmark Aramco share sale

Saudi Arabia may announce a landmark secondary share offering in oil giant Aramco, pending final approval from Crown Prince Mohammed bin Salman

OPEC+ could extend oil cuts, formal talks yet to start

OPEC and its allies have yet to begin formal talks on extending voluntary oil output cuts of 2.2 million barrels per day beyond June, but they could keep the cuts if demand fails to pick up

China’s imports of Russian oil near record high in March

China’s oil imports from Russia, including pipeline deliveries and maritime transport, rose 12.5% annually to 10.81 million tons, or 2.55 million barrels per day (bpd) last month, according to Customs Administration data

Saudi Arabia highlights groups’ effort to stabilize the oil market

Saudi Arabia praised the countries inside and outside the Organization of the Petroleum Exporting Countries (OPEC) for their unity and commitment to the stability of the oil market through the “Declaration of Cooperation” signed in December, according to a cabinet statement

OPEC December oil output rises before new cuts, Angola exit

OPEC oil output rose in December, as increases in Iraq, Angola and Nigeria offset ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance in support of the market

OPEC+ set to hold monitoring meeting in early February

OPEC+ plans to hold a meeting of its Joint Ministerial Monitoring Committee (JMMC) in early February, though an exact date has not been decided

OPEC blames ‘exaggerated’ demand concerns for oil price drop

OPEC said it remains cautiously optimistic about the fundamentals of the oil market for 2024 and blamed ‘exaggerated concerns’ about demand for the recent price drop, while sticking to its relatively high prediction of crude consumption for next year

OPEC production falls for the first time since July

OPEC’s oil production fell in November, marking the first monthly decline since July, according to a Reuters survey, due to lower shipments from Nigeria and Iraq amid ongoing cuts by Saudi Arabia and other members