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2016-09-01 18:45:00

SAUDI STABILIZES PRICES

SAUDI STABILIZES PRICES

BOE wrote, Saudi Arabia, the world's biggest oil exporter, won't boost output to capacity and flood the market, the kingdom's Energy Minister Khalid Al-Falih said weeks before OPEC meets to discuss ways to stabilize prices.

Saudi Arabia isn't concerned about global demand in spite of a drop in oil prices and a slower economy, Al-Falih said in an interview with Al-Arabiya television. The country is able to pump as much as 12.5 million barrels a day of oil, he said in comments broadcast during an official visit to buyers in Asia, its biggest market, including China.

"The market is now saturated with stored crude at beyond usual levels and we don't see in the near future a need for the kingdom to reach its maximum capacity," Al-Falih said. Demand in China is "very healthy" and consumption in India is "very good," he said. Saudi domestic use is rising due to two new refineries in Yanbu and Jubail which have raised consumption by a combined 800,000 barrels a day, Al-Falih said.

Saudi Arabia is producing near record levels as it tries to preserve market share in the face of a worldwide glut. The country pumped 10.43 million barrels a day in July, according to data compiled by Bloomberg. An increase in supply, including from U.S. shale drillers, has triggered a drop in crude prices of more than 50 percent since their 2014 peak. Saudi Arabia plans to hold informal talks on stabilizing prices with other members of the Organization of Petroleum Exporting Countries in Algeria next month.

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Earlier: 

SAUDI NEED COOPERATION 

SHAKY MARKET BALANCE 

ДИАЛОГ РОССИИ И САУДОВСКОЙ АРАВИИ 

SAUDI RAISES PRICES 

SAUDI'S OIL PRODUCTION: 10.67 MBD

 

 

 

Tags: SAUDI, OIL, PRICES, PRODUCTION

Chronicle:

SAUDI STABILIZES PRICES
2018, September, 19, 13:43:00

ЦЕНА URALS: $74,45568

МИНФИН РОССИИ - Средняя цена на нефть Urals за период мониторинга с 15 августа по 14 сентября 2018 года составила $74,45568 за баррель, или $543,5 за тонну. Согласно расчетам Минфина России экспортная пошлина на нефть в РФ с 1 октября 2018 года повысится на $7,5 и составит $137,5 за тонну.

SAUDI STABILIZES PRICES
2018, September, 19, 13:39:00

SAUDIS OIL PRODUCTION: 10.42 MBD

PLATTS - Saudi production has since risen to 10.42 million b/d in August, the country reported to OPEC in the organization's most recent monthly oil market report. Saudi Arabia's crude oil stocks, which have been declining steadily over the last three years, fell to 229.41 million barrels in July, down 11.4% since May 2017, the JODI data showed.

SAUDI STABILIZES PRICES
2018, September, 19, 13:35:00

U.S. PRODUCTION: OIL + 79 TBD, GAS + 961 MCFD

U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 79,000 b/d month-over-month in October from 7,515 to 7,594 thousand barrels/day , gas production to increase 961 million cubic feet/day from 72,127 to 73,088 million cubic feet/day .

SAUDI STABILIZES PRICES
2018, September, 19, 13:30:00

U.S. - CHINA SANCTIONS: $60 BLN

REUTERS - Beijing on Tuesday said it would tax U.S. products worth $60 billion effective Sept. 24 in retaliation for tariffs imposed by U.S. President Donald Trump in an escalating trade war.

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