Maurice B. Shaw’s Post

Saudi Arabia has raised Asia oil prices by 90 cents a barrel, positioning Arab Light crude at a $2.20 premium in light of market volatility. In contrast, prices to the US and Europe have seen reductions. Oil prices saw an 8% surge this week due to tensions in the Middle East, currently trading at approximately $78 per barrel. Concerns over soft demand led to OPEC+ delaying output increases, potentially resulting in Saudi Arabia exporting less than 6 million barrels per day. For more updates, follow The Business Standard. #OilPrices #SaudiArabia #MarketVolatility

𝙎𝙖𝙪𝙙𝙞 𝘼𝙧𝙖𝙗𝙞𝙖 𝙍𝙚𝙫𝙞𝙨𝙚𝙨 𝙎𝙩𝙧𝙖𝙩𝙚𝙜𝙮 𝙤𝙣 𝙊𝙞𝙡 𝙋𝙧𝙞𝙘𝙚𝙨 In a significant shift, Saudi Arabia is reportedly ready to abandon its $100 per barrel crude oil price target, as it plans to increase output despite potentially lower prices. This move signals the kingdom's resignation to a period of decreased oil costs, marking a major strategic pivot from its long-standing production cuts initiated in November 2022. These cuts, aimed at maintaining higher prices, now appear unsustainable in light of increased global supply and modest demand growth, particularly from China. The intended production boost, initially planned for October, has been postponed to December, stirring speculations about OPEC+'s capacity to enhance output. Meanwhile, Brent crude's price recently dipped below $70, its lowest since December 2021, affecting major oil producers' share prices across Europe. Saudi Arabia's decision reflects its unwillingness to lose further market share to other producers despite needing higher oil prices to fund ambitious economic reforms under Crown Prince Mohammed bin Salman. The kingdom may leverage alternative financial resources like foreign reserves or sovereign debt to manage lower oil revenues. This strategic realignment echoes Saudi's past actions during the 2014 oil price drop, prioritizing market control over price maintenance. #EnergyMarkets #OilPrices #SaudiOilPolicy #OPEC https://lnkd.in/gYtuXM_c

#Oil prices surged by more than $3/barrel in Asian morning trade on Friday, with #Brent crude crossing above $90/barrel before easing midday, amid heightened fears of supply disruption following unofficial reports of explosions in the Middle East. Overnight, oil prices settled mixed following a sell-off early in the week as financial markets discounted fears of a war between #Israel and #Iran that could disrupt crude supplies. On Friday, various media outlets in the Middle East reported explosions occurred in Iran, Syria, and Iraq. #ICIS #oil #Brent #MiddleEast #supply https://lnkd.in/dzvCCht3

https://lnkd.in/dXbaKQ9G Saudi Arabia has raised the price of its Arab Light crude for Asia by 20 cents per barrel for September, bringing it to $2 a barrel above the regional Oman-Dubai benchmark, according to a price list seen by Bloomberg. This is the first increase in three months, signaling confidence in demand despite concerns about a potential oversupply later this year. The increase was smaller than expected, as traders had anticipated a 50-cent rise. The move comes as OPEC+ plans to gradually boost production, with Middle Eastern crude becoming more attractive to Asian buyers. However, there is uncertainty about whether OPEC+ will proceed with its production increase plans, which could impact prices later in the year.

Saudi Arabia Hikes Oil Selling Prices to Asia Across All Grades. aramco boosts Arab Light price to Asia for a third month. OPEC+ seen extending supply cuts, probably for rest of year. #INVESTMENTBANKING #HEDGEFUNDS #PORTFOLIOMANAGMENT #CEOS #CIOS #CFO #CFOS #CIO #ASSETMANAGEMENT #FED #INFLATION #ECONOMY #EUROPE #ASIAPACIFIC #MARKETS #COMMODITIES #ECONOMICS #PRIVATEEQUITY #MONEY #VENTURECAPITAL #INVESTING #BANKINGINDUSTRY #TREASURY

KSA’s Dec'24 Oil Pricing – Potential Adjustments for Asia (Speculative) Top oil exporter Saudi Arabia may adjust its Dec'24 crude prices for Asia, with industry sources suggesting a possible 30-50 cent reduction in the Arab Light crude OSP, though no official confirmation has been made. This reflects softer demand indicators and a recent decline in the Dubai benchmark, which could influence Saudi Aramco’s pricing decisions. Heavier Crude Stability: Strong margins in high-sulfur fuel oil may mean smaller adjustm., if any, for heavier grades like Arab Medium & Arab Heavy. Speculation also suggests that OPEC+ could delay its planned Dec'24 production increase amid concerns over demand strength and rising supply. Again, this remains speculative and unconfirmed.

India’s crude oil imports from Russia rise to a 13-month high, while imports from Saudi Arabia fall to a decade low in June. Read the full article here: https://bit.ly/4cQdTd8 #IndiaOilImports #RussiaOil #SaudiArabiaOil #CrudeOil #EnergyNews #GlobalTrade #OilIndustry #EconomicTrends #EnergyMarkets #OilSupplyChain

Saudi Arabia is ready to abandon its unofficial price target of $100 a barrel for crude as it prepares to increase output, in a sign that the kingdom is resigned to a period of lower oil prices. The shift in thinking represents a major change of tack for Saudi Arabia, which has led other OPEC+ members in repeatedly cutting output since November 2022 in an attempt to maintain high prices. Brent has averaged $73 a barrel so far in September, even as Israel’s war with Hamas in Gaza has threatened to escalate into a wider regional conflict. As shown in the chart below, Saudi Arabia needs an oil price of close to $100 a barrel to balance its budget as Crown Prince Mohammed bin Salman seeks to fund a series of megaprojects at the heart of an ambitious economic reform programme.

Saudi Crude Oil Exports Rose To 9-Month High in March. Saudi Arabia, the world’s top crude oil exporter, saw its crude shipments rise in March to the highest level in 9 months, the latest data by the Joint Organizations Data Initiative (JODI) showed on Monday.      Saudi crude exports rose by 96,000 barrels per day (bpd) in March compared to February, to hit 6.413 million bpd, according to the JODI data which compiles self-reported figures from the individual countries. The rise in exports in March was the second consecutive monthly increase in Saudi crude shipments… http://ow.ly/Hl6t105tMtx

🎢 Roller Coaster Ride in the Oil Markets! 🛢️ Buckle up, energy professionals! The crude oil market is giving us more twists and turns than a soap opera: 📉 China's oil imports down for 5 straight months 🇸🇦 OPEC slashes demand growth estimates by 100K bbl/day 💰 Nymex crude settles at $73.83/bbl, a 2.3% dip But wait, there's more! 🍿 Rumor has it Saudi Arabia might be ready to 'open the floodgates' on oil production. Capital Economics puts the odds at 30% by 2025. Talk about a potential game-changer! Are we witnessing the beginning of an oil renaissance or the end of an era? 🤔 Share your thoughts below! Let's get this conversation flowing faster than crude from a gusher! 💬👇 #OilIndustry #EnergyMarkets #GlobalEconomy #MarketAnalysis #CrudeOil #OPEC #SaudiArabia #EnergyTransition