Shu Zhang

Saudi Arabia may raise Asia crude prices in January - survey

30 Nov 2020

SINGAPORE Top oil exporter Saudi Arabia is expected to raise its official selling prices (OSPs) for Asian buyers in January, tracking stronger benchmark prices as some refiners increase output to meet higher winter demand, a Reuters survey showed.

Iraq to launch new Basra Medium crude for export in 2021: sources

03 Nov 2020

SINGAPORE Iraq's Oil Marketing Company (SOMO) has notified clients that it plans to launch a third crude oil export grade called Basra Medium in January, two sources with knowledge of the matter said this week.

Saudi Arabia may cut or keep Asia crude prices steady in December: survey

29 Oct 2020

SINGAPORE Top oil exporter Saudi Arabia may maintain or cut slightly its crude official selling prices (OSPs) for Asian buyers in December after benchmark Dubai prices and refining margins weakened, a Reuters survey showed on Thursday.

Saudi Arabia may keep November crude prices to Asia little changed

29 Sep 2020

SINGAPORE Top oil exporter Saudi Arabia is expected to keep its November official selling prices (OSPs) little changed for Asian buyers in line with Middle East benchmarks, a survey showed on Tuesday.

Oil prices hover around multi-week lows on demand worries

03 Sep 2020

SINGAPORE/MELBOURNE Oil prices were hovering around multi-week lows on Thursday as worries about falling U.S. gasoline demand and sluggish economic recovery from the COVID-19 pandemic dented sentiment.

South Korea imports oil from China storage in rare flow - sources, Eikon

01 Sep 2020

SEOUL/SINGAPORE South Korean refiners have bought nearly 2 million barrels of Omani crude from Chinese storage tanks in the past two months, seldom seen trades created by low prices and high inventories, according to trade sources and shipping data on Refinitiv Eikon.

Headache for OPEC as oil market structure signals return of glut

31 Jul 2020

SINGAPORE/LONDON Rising OPEC and U.S. oil supply, coupled with stalled economic and crude demand recovery, have pushed the futures market structure back to indicating a surplus, last observed during oil's collapse in April and May amid the coronavirus pandemic.

Saudi Arabia may cut Sept crude oil prices to Asia - survey

30 Jul 2020

SINGAPORE Top oil exporter Saudi Arabia may cut its September official selling price (OSP) for crude sold in Asia, tracking falling Middle East benchmarks and weak refining margins, according to industry sources.

ChemChina buys Gazprom Neft's first Arctic oil cargo for China: sources

16 Jul 2020

MOSCOW/SINGAPORE Russia's Gazprom Neft has sold its first ever Arctic oil cargo to China to ChemChina, two sources familiar with the deal told Reuters on Thursday.

BP, Mercuria first global firms delivering oil into Shanghai contract: sources

14 Jul 2020

SINGAPORE BP delivered 3 million barrels of Iraqi oil to the Shanghai International Energy Exchange (INE) this month, becoming the first major global trader to make a physical delivery since China launched the futures market in 2018, industry sources said on Tuesday.

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