Saudi Arabia

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Saudi Arabia raises oil prices for Asia more than expected

Saudi Arabia raises oil prices for Asia more than expected

Saudi Arabia raised the July official selling price (OSP) for its flagship Arab light crude to Asia by $2.10 from June to $6.50 premium versus the average of the Oman and Dubai benchmarks, state oil producer Aramco said. The July OSP is …

Media: Biden's office postpones his visit to Middle East

Media: Biden's office postpones his visit to Middle East

The US administration has postponed US President Joe Biden's trip to the Middle East, planned for the end of June, to July, the Axios information portal reported today, citing sources in the governments of the United States and Israel. …

Murad Sadygzade: US failed to isolate Russia in Persian Gulf

Murad Sadygzade: US failed to isolate Russia in Persian Gulf

In an interview with Vestnik Kavkaza, Murad Sadygzade, a visiting lecturer at School of International Regional Studies at the Faculty of World Economy and International Affairs at the National Research University Higher School of …

Saudi Arabia ready to replace Russian oil for the West

Saudi Arabia ready to replace Russian oil for the West

Saudi Arabia is prepared to raise its oil production if Russia's output falls substantially because of the western sanctions imposed on it, the Financial Times reported, citing sources. Discussions had been held about an immediate …

Lavrov arrives in Riyadh

Lavrov arrives in Riyadh

Foreign Minister Sergey Lavrov arrived in Riyadh as part of a trip to the countries of the Persian Gulf. According to RIA Novosti, Lavrov will hold talks with his Saudi counterpart Faisal bin Farhan Al Saud. It is noted …

G7 demands oil from OPEC

G7 demands oil from OPEC

G7 energy ministers have called on the Opec group of oil producing countries to pump more oil

Saudi Arabia and Argentina showing interest in BRICS

Riyadh and Buenos Aires show interest in BRICS activities, Russian Foreign Minister Sergey Lavrov said in an interview with RT Arabic. "The interest in it [BRICS group - TASS] is showed by our Saudi friends and Argentina, which …

Saudi Arabia sees no crude oil shortage

Saudi Arabia sees no crude oil shortage

The oil market "is relatively in balance," Saudi Arabia's foreign minister Faisal bin Farhan al-Saud said, as the kingdom continues to brush off calls to produce more crude to bring down soaring prices. Consumers' pain …

Saudi Arabia signals support for Russia’s role in OPEC+

Saudi Arabia signals support for Russia’s role in OPEC+

Saudi Arabia has signalled it will stand by Russia as a member of the Opec+ group of oil producers despite tightening western sanctions on Moscow and a potential EU ban on Russian oil imports. Prince Abdulaziz bin Salman, the energy …

Saudi-Turkish reconciliation is a cause for concern in Iran

Saudi-Turkish reconciliation is a cause for concern in Iran

Following a year of intense diplomatic efforts to normalise relations and turn over a new leaf, relations between Turkey and Saudi Arabia seem to have warmed following the two-day visit of Turkish President Recep Tayyip Erdogan to Riyadh on …

Saudi Aramco net profit soars 82% in Q1

Saudi Aramco net profit soars 82% in Q1

State-owned oil producer Saudi Aramco on Sunday reported an almost 82% rise in first-quarter net profit, broadly in line with analyst forecasts, helped by strong oil prices. Aramco, which is at par with Apple Inc as the world's most …

Apple is no longer the world’s most valuable company

Apple is no longer the world’s most valuable company

Oil giant Saudi Aramco on Wednesday surpassed Apple as the world’s most valuable firm. Aramco’s market valuation was just under $2.43 trillion on Wednesday, according to FactSet, which converted its market cap to …