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Rania El Gamal

OPEC scraps April meeting but keeps oil cuts in place

5:44pm IST

BAKU Oil producer group OPEC on Monday scrapped its planned meeting in April and will decide instead whether to extend output cuts in June, once the market has assessed the impact of U.S. sanctions on Iran and the crisis in Venezuela.

Saudi signals OPEC may need to extend oil cuts until end-2019

9:04am IST

BAKU Saudi Arabia said on Sunday OPEC's job in rebalancing the oil market was far from done as global inventories were still rising despite harsh U.S. sanctions on Iran and Venezuela, signalling it may need to expand output cuts into the second half of 2019.

Saudi Aramco shifts strategy in China to boost oil sales

14 Mar 2019

DUBAI/SINGAPORE/BEIJING Rising Russian and U.S. competition has pushed Saudi Aramco to find new buyers for its oil in China, encouraging a shift toward independent refiners and newcomers to the business.

Iraq's SOMO drops partners, elbows its way into oil trading

13 Mar 2019

DUBAI/LONDON/SINGAPORE Iraq's state oil marketer SOMO has scrapped two joint ventures (JVs) and reduced contracts with some European customers to push its way into trading by selling more of its crude ad hoc, trading and industry sources said.

Iraq's SOMO drops partners, elbows its way into oil trading

13 Mar 2019

DUBAI/LONDON/SINGAPORE, March 13 Iraq's state oil marketer SOMO has scrapped two joint ventures (JVs) and reduced contracts with some European customers to push its way into trading by selling more of its crude ad hoc, trading and industry sources said.

Saudi Arabia to cut oil exports in April: Saudi official

11 Mar 2019

DUBAI Saudi Arabia plans to cut its crude oil exports in April to below 7 million barrels per day (bpd), while keeping its output well below 10 million bpd, a Saudi official said on Monday, as the kingdom seeks to drain a supply glut and support oil prices.

Saudi Aramco's board to meet to approve SABIC bond plan: sources

11 Mar 2019

DUBAI/LONDON Saudi Aramco's board is set to meet this week in Saudi Arabia where it will approve a bond issuance plan that could help finance the potential acquisition of a stake in Saudi petrochemicals maker SABIC, industry sources said.

Saudi Aramco's board to meet to approve SABIC bond plan: sources

11 Mar 2019

DUBAI/LONDON Saudi Aramco's board is set to meet this week in Saudi Arabia where it will approve a bond issuance plan that will likely help finance a potential acquisition of a strategic stake in Saudi petrochemicals maker SABIC, industry sources said.

OPEC likely to defer output policy decision until June: sources

04 Mar 2019

DUBAI/LONDON OPEC and its partners are unlikely to decide on their output policy in April as it would be too early to get a clear picture of the impact of their supply cuts on the market by then, three OPEC sources said on Monday.

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