Import Globals’ Post

SAUDI ARABIA'S CRUDE OIL EXPORTS IN JULY HIT ALMOST ONE YEAR LOW https://hubs.la/Q02Qy8rw0 Saudi Arabia’s crude oil exports in July fell to their lowest level in nearly a year, data from the Joint Organizations Data Initiative (JODI) showed on Thursday. #saudiarabia #crudeoil #oilexports #oilandgasindustry #oilandgas #energyindustry

Top Oil Producers of 2023: Who Dominates the Market? The United States leads with 12.9 million barrels per day, followed by Saudi Arabia at 9.7 million, and Russia at 10.1 million barrels per day. Other notable producers include Canada, China, and Iraq. The "Other" category, comprising various smaller producers, collectively accounts for 22.8 million barrels per day, highlighting the significant contribution of lesser-known oil-producing nations. #OilIndustry #EnergyProduction #OilProduction #EnergyIndustry #GlobalEconomy #OilMarket #TopProducers #EnergyStatistics #2023Trends https://lnkd.in/dk9Z4wFw

🛢️| Saudi vs Iran oil production right seem to be going out a different direction. This in par seems to have caused an effect where due political instability is causing an upward output of production whereas a rather stabilizing nation of the Saudi is leading to a price stabilizaiton pin-point. #oil #pricing

Saudi Arabia Is Expected to Raise Its Oil Prices to Asia to a 5-Month High. Saudi Arabia is likely to raise the price of its flagship Arab Light crude loading for Asia in June to the highest premium over benchmarks as the Middle Eastern quotes have strengthened this month, a Reuters survey of seven refining sources showed on Monday.   Saudi Aramco, the world’s top crude oil exporter, could raise later this week the price of Arab Light for Asia in June by $0.70-$0.90 to nearly a $3.00 a barrel premium over the Oman/Dubai average, the benchmark off which Middle Eastern crude going to Asia is… http://ow.ly/rFyX105re4V

Saudi Arabia exported 7.0 million b/d of crude oil in 2023. Crude oil and petroleum product exports from Saudi Arabia represented 34% and 26%, respectively, of OPEC exports in 2023. Saudi Arabia shipped 42% (6.2 million b/d) of the crude oil that transited the Strait of Hormuz in 2023. The Strait of Hormuz is the seaborne entrance to the Persian Gulf and one of the world’s most important oil transit chokepoints. Most exports of petroleum and natural gas from the Persian Gulf to Europe and North America pass through several chokepoints, including the Strait of Hormuz, the Suez Canal or the SUMED pipeline, and the Bab el-Mandeb. Saudi Arabia can circumvent the Strait of Hormuz and Bab El-Mandeb by transporting crude oil to the Red Sea via the country’s 5 million b/d East-West crude oil pipeline, which is temporarily expandable to 7 million b/d when needed. (Country Analysis Brief: Saudi Arabia – EIA (U.S. Energy Information Administration) – October 4th 2024) #SaudiArabia #SaudiArabiacrudeoilexports #OPEC #CrudeOilMarket #StraitofHormuz #SaudiArabiaseabornecrudeoilexports

Libya Reaches 1.3 Million bpd Oil Production, Eyes 2 Million bpd in Coming Years 👇 Libya has reached a significant milestone in oil production, achieving 1.3 million barrels per day (bpd) as of mid-October 2024. This marks a full recovery following recent disruptions caused by political tensions, particularly the central bank crisis earlier this year. The National Oil Corporation (NOC) attributed this swift rebound to the dedicated efforts of its workforce and the support of key stakeholders. The production figure includes both crude oil and condensates, reaffirming Libya's position as a key player in the global oil market. Follow Originco for regular updates on the Oil market: https://lnkd.in/gxyceeQC Written by Originco and published on EklipX Research #OOTT #Libya #oil #crude #trading

*** World's Biggest Oil Producers in 2023 *** Chart showing the production by country for crude production in 2023 1. United States 2. Russia 3. Saudi Arabia 4. Canada 5. Iraq Credit to @VisualCapitalist for the graphic #crude #oil #oilgas #energytransition

https://lnkd.in/dZ_7BM8U In 2023, Saudi Arabia led global oil exports, accounting for 16.3% of the total value, with its exports worth 210.6 billion U.S. dollars. Russia and the United States followed, each holding a 9.1% share of the global oil export market. This distribution underscores Saudi Arabia & dominant position in the global oil market, bolstered by its vast reserves and production capacity, while Russia and the United States & significant shares highlight their crucial roles as major oil exporters, reflecting the diversification of global oil supply sources. This growth reflects the increasing demand for efficient hydrocracking processes and the industry's commitment to innovation and sustainability. As we look to the future, the potential for new advancements and opportunities in this sector is immense. Stay tuned for more updates on how this dynamic market is evolving! #Hydrocracker #MarketGrowth #Innovation #Sustainability #FutureTrends

🔜 Saudi Arabia will increase its #oil production in 2026-2027! 🏭 Saudi Arabia's actual oil production is well below the maximum possible level. According to current OPEC+ quotas, the country's oil production should not exceed 8.98 million bpd between June and September 2024. However, by the end of 2025, the quota will rise to 9.98 million bpd. 📲 In order to achieve the proposed targets, Saudi Arabia must focus on #innovation to continue to increase its current production. Having smart tools that favor #production and optimize all processes within the facilities to the maximum is essential to be able to exponentially increase production. 🔎 You can read the news here: https://lnkd.in/ejNDvf_h

Saudi Arabia Is Expected to Raise Its Oil Prices to Asia to a 5-Month High. Saudi Arabia is likely to raise the price of its flagship Arab Light crude loading for Asia in June to the highest premium over benchmarks as the Middle Eastern quotes have strengthened this month, a Reuters survey of seven refining sources showed on Monday.   Saudi Aramco, the world’s top crude oil exporter, could raise later this week the price of Arab Light for Asia in June by $0.70-$0.90 to nearly a $3.00 a barrel premium over the Oman/Dubai average, the benchmark off which Middle Eastern crude going to Asia is… http://ow.ly/rFyX105re4V