RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

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.

-----

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
2022, June, 28, 11:44:00
6TH ANNUAL LNG SUMMIT USA
The 6th Edition of Wisdom’s Much Acclaimed Annual LNG Summit Will Be Held Live in Houston - PREPARING THE INDUSTRY FOR THE RISE IN DEMAND FOR LNG
SAUDI STABILIZES PRICES
2022, June, 28, 11:43:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
SAUDI STABILIZES PRICES
2022, June, 28, 11:40:00
S.KOREAN NUCLEAR SUPPORT
South Korea’s new president, Yoon Suk-yeol, said on 22 June that in order to rebuild the nuclear industry that was “devastated by the previous administration”, the government will allocate KRW92.5 billion ($70 million) from the energy budget for the restoration of nuclear power generation capacity.
SAUDI STABILIZES PRICES
2022, June, 28, 11:35:00
U.S. SMR FOR ROMANIA
Romanian company Nuclearelectrica and NuScale will cooperate with the US Trade and Development Agency (USTDA) on a series of engineering and design activities and studies, as well further technical analyses of the Doicești site, a former thermal power plant site which has been identified as a potential location for the SMR plant.
SAUDI STABILIZES PRICES
2022, June, 28, 11:30:00
U.S. SOLAR POWER 25%
US Energy Information Administration reports a capacity factor of 25% for solar generation.
SAUDI STABILIZES PRICES
2022, June, 28, 11:25:00
AUSTRALIAN SMART ENERGY
As energy is of national importance, a national policy, national rules and regulations are necessary. At the same time, we are facing massive changes in the energy sector.
SAUDI STABILIZES PRICES
2022, June, 27, 11:45:49
OIL PRICE: BRENT NEAR $113, WTI ABOVE $107
Brent edged down 8 cents to $113.04 a barrel , WTI was at $107.38 a barrel, down 24 cents.
All Publications »