Saudi Arabia
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Paknejad Attends Saudi Arabia National Day Ceremony
SHANA (Tehran) - Iranian minister of petroleum, Mohsen Paknejad, attended Saudi Arabia's National Day ceremony held here on Monday, wishing the best for the people and government of the neighboring country.
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Paknejad Delivers a Speech at Saudi Arabia's National Day Ceremony
SHANA (Tehran) - Iranian Minister of Petroleum Mohsen Paknejad attended Saudi Arabia's National Day held in the country's embassy in Tehran on Monday, wishing the best for the people and government of the neighboring country.
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Paknejad Hails Boosting Cooperation with Saudi Arabia
SHANA (Tehran) - Iranian Minister of Petroleum Mohsen Paknejad has said that under the previously made agreements, he hopes to witness the holding of the joint economic cooperation commission between Iran and Saudi Arabia soon.
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Saudi Arabia may hike May crude oil prices to Asia
Top oil exporter Saudi Arabia may raise the official selling price (OSP) for flagship Arab Light crude in May after Middle East benchmarks strengthened last month, industry sources said.
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Saudi Arabia's oil price cuts helping fill the void for Indian refiners
Saudi Arabia's recent move to slash the price of its oil has attracted attention from India, with some refiners now interested in buying crude from the kingdom while oil purchases from Russia plummet.
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Oil slides as Saudi price cuts counter Middle East worries
Oil prices fell by more than 2% on Monday on sharp price cuts by top exporter Saudi Arabia and a rise in OPEC output, offsetting supply concerns generated by escalating geopolitical tension in the Middle East.
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Kremlin says OPEC+ cuts will kick in later, confirms Putin to visit Persian Gulf
Oil production cuts agreed by the OPEC+ group will take time to kick in, the Kremlin said on Tuesday as it confirmed that President Vladimir Putin would visit the United Arab Emirates and Saudi Arabia on Wednesday.
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Saudi Arabia: OPEC+ oil production cuts can continue past March if needed
The OPEC+ oil production cuts can “absolutely” continue past the first quarter if needed, Saudi Energy Minister Prince Abdulaziz bin Salman said, as he pledged the curbs would be delivered in full.
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OPEC+ announces additional voluntary cuts to total of 2.2m bpd
OPEC+ oil producers on Thursday agreed to voluntary output cuts totalling about 2.2 million barrels per day (bpd) for early next year led by Saudi Arabia rolling over its current voluntary cut.
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Saudi wins provisional backing for OPEC+ oil production cuts: FT
Saudi Arabia has won provisional backing for further oil production cuts by the OPEC+ group that will see other members agree to contribute, boosting oil prices to the highest in three weeks ahead of a crucial meeting of the group.
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Saudi energy minister blames speculators for oil price drop
Oil demand is healthy and speculators are to blame for the recent drop in crude prices, said Saudi Arabia’s energy minister.
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Oil rises by 1% as Saudi Arabia, Russia stick to cuts
Oil prices rose on Monday, after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year.
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Andurand says oil must hit $110 before Saudi Arabia eases supply curbs
Oil trader Pierre Andurand said he expects Saudi Arabia to keep its current supply curbs in place until prices reach at least $110 a barrel.
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Saudi Arabia's crude exports drop to 28-month low in August
Saudi Arabia's crude oil exports in August hit their lowest level in 28 months as they fell for a fifth straight month, data from the Joint Organizations Data Initiative (JODI) showed on Monday.
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Saudi energy minister: We need to be ‘proactive’ on oil market
Saudi Energy Minister Prince Abdulaziz bin Salman said in a Russian TV interview that it was necessary to be "proactive" on the oil market and attempt to bring stability to it, while adding that oil producers do not target prices.
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Russia, Saudi Arabia discuss oil market, prices
Saudi Arabia and Russia, the world's top two oil exporters, on Wednesday discussed the situation on the oil market and prices amid the escalating conflict between Israel and Hamas, President Vladimir Putin's top oil official said.
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Saudi Arabia, other Arab states reaffirm commitment to voluntary oil production adjustments
Bahrain, Iraq, Kuwait, Oman, Saudi Arabia and the United Arab Emirates reaffirmed their commitment to "collective and individual voluntary adjustments" to oil production, the Saudi state news agency said.
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OPEC+ maintains output reduction to boost oil prices
An OPEC+ panel recommended Wednesday that the oil group keep its current output reduction strategy unchanged after heavyweights Saudi Arabia and Russia vowed to maintain their cuts to prop up prices.
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Saudi Arabia, Russia to continue voluntary oil cuts until end of year
Saudi Arabia and Russia on Wednesday said they were continuing voluntary oil cuts to year end as tightening supply and rising demand support oil prices.
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Iran-Saudi détente a positive step in increasing cooperation: Analyst
SHANA (Tehran) – An expert in international relations has described the rapprochement between Iran and Saudi Arabia as a positive step toward promoting cooperation.
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Iran’s oil minister attends 93rd Saudi National Day ceremony
SHANA (Tehran) – Iranian Oil Minister Javad Owji and a number of foreign ambassadors attend a ceremony to celebrate the 93rd National Day of Saudi Arabia at the kingdom’s embassy in Tehran on September 26, 2023.
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Owji: Oil industry plays ‘pivotal’ role in promoting Iran, Saudi Arabia common economic interests
SHANA (Tehran) – Oil industry can play a “pivotal” role in promoting common economic interests of Iran and Saudi Arabia, said Iranian Oil Minister Javad Owji on Tuesday night.
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Oil prices rise, tight supply back in focus
Oil prices rose on Monday as investors focused on a tighter supply outlook after Moscow issued a temporary ban on fuel exports while remaining wary of further rate hikes that could dampen demand.
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Oil prices rise as tight supply outlook offsets demand woes
Oil prices rose on Monday after flirting with $95 a barrel earlier in the session, as expectations of a supply deficit stemming from extended output cuts by Saudi Arabia and Russia as well as weak shale production outweighed concerns about demand.
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Saudi Arabia says ready to promote cooperation with Iran in petrochemical sector
SHANA (Tehran) – Saudi Ambassador to Iran Abdullah bin Saud al-Anzi on Monday voiced his country’s readiness to broaden cooperation with the Islamic Republic in petrochemical sector.
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Global oil stockpiles to fall after Saudi output cut – EIA
Global oil inventories were expected to fall in the fourth quarter after Saudi Arabia extended output cuts this month, while U.S. crude production is forecast to rise more than previously thought, the Energy Information Administration said in a monthly report on Tuesday.
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Oil could hit $107: Goldman Sachs
Oil prices could climb well into triple-digit territory by next year if Russia and Saudi Arabia don’t unwind their supply cuts, Goldman Sachs warned its clients.
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Saudi Arabia to extend voluntary cut of 1m bpd until end of year
Saudi Arabia on Tuesday extended its one-million-barrel-per-day voluntary crude oil production cut until the end of the year, according to the state-owned Saudi Press Agency.
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Saudi Arabia oil exports hit 21-month low in June
Saudi Arabia's crude oil exports fell for a third straight month in June to their lowest since September 2021, data from the Joint Organizations Data Initiative (JODI) showed, with big Asian buyers favouring cheaper Russian oil.
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Oil slips as weak China data offsets tightening supply
Oil prices fell by more than 1.5% on Tuesday after data showed China's imports and exports fell much more than expected in July in yet another sign of a sluggish post-COVID rebound for the world's largest oil importer.