2020-03-12 12:45:00
ARAMCO WILL INCREASE TO 13 MBD
SAUDI ARAMCO - Dhahran, March 11, 2020 -- Saudi Aramco announces that it received a directive from the Ministry of Energy to increase its maximum sustainable capacity (MSC) from 12 million barrels per day (MMBD) to 13 MMBD. It is to be noted that the MSC is determined by the State pursuant to the Hydrocarbons Law, enacted by Royal Decree M/37, dated 12/20/2017.
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Earlier:
2020, March, 11, 12:30:00
OIL PRICE: NEAR $37 ANEW
Brent slid $0.41, or 1.1%, to $36.81 a barrel, WTI dropped $0.42, or 1.2%, to $33.94 a barrel.
2020, March, 11, 12:10:00
ARAMCO WILL PROVIDE 12.3 MBD
Saudi Aramco announces that it will provide its customers with 12.3 million barrels per day (MMBD) of crude oil in April
2020, March, 10, 13:50:00
OIL PRICE: NEAR $37
Brent were up $1.44, or around 4%, to $35.80 a barrel, after hitting a session high of $37.38 a barrel. WTI gained $1.52, or around 5%, to $32.65 a barrel, after hitting a high of $33.73.
2020, March, 10, 13:30:00
SAUDI ARABIA'S OIL PRODUCTION GROWTH
Saudi Arabia has said it could raise production to 12 million barrels per day,
2020, March, 10, 13:25:00
ARAMCO'S IPO PROBLEMS
On Monday, Aramco shares opened trading at Riyals 27 ($7.19) before rising modestly to close at Riyals 28.35. That is 11.4% below its IPO price, prompting the company's valuation to slide to about $1.5 trillion from $1.7 trillion in December, in the wake of Friday's failure by OPEC and Russia to reach a deal on oil production cuts.
2020, March, 9, 14:55:00
SAUDI'S OIL PRICES DOWN
A Saudi industry source said the world's biggest oil exporter is merely responding to Novak's comments that as of April 1, countries are no longer bound by their quotas. The current OPEC+ agreement to cut 1.7 million b/d winds up at the end of March.
