Edition:
United States

Shu Zhang

Headache for OPEC as oil market structure signals return of glut

Jul 30 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 September crude oil prices to Asia: survey

Jul 30 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

Jul 16 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

Jul 14 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.

Saudi Aramco cuts August heavier crude supply for Asian refiners - sources

Jul 13 2020

SINGAPORE/NEW DELHI Saudi Arabia's state-owned oil company Saudi Aramco will reduce its August-loading shipments of medium and heavy crude grades to at least six Asian buyers, several sources familiar with the matter said on Monday.

UPDATE 1-Saudi Aramco cuts August heavier crude supply for Asian refiners -sources

Jul 13 2020

* Buyers given option to switch to lighter crude grades (Adds details)

Zhejiang wins China's first private fuel export license: sources

Jul 09 2020

SINGAPORE/BEIJING China has granted Zhejiang Petroleum & Chemical Co (ZPC) a license to export refined oil products, making it the first private oil refiner to win such permission, two sources with knowledge of the matter said on Thursday.

Saudi Arabia may raise August crude oil prices to Asia: survey

Jul 01 2020

SINGAPORE Top oil exporter Saudi Arabia may raise its August official selling price (OSP) for crude sold in Asia, hiking for a third straight month due to rising Middle East benchmarks and a rebound in Asian refining margins, industry sources said.

Saudi Aramco cuts July crude supplies to at least five buyers in Asia: sources

Jun 15 2020

SINGAPORE The world's largest oil exporter Saudi Aramco has reduced the volume of July-loading crude that it will supply to at least five buyers in Asia, seven sources said on Monday.

Indian Oil seeks up to 24 million barrels of U.S. crude to diversify imports

Jun 08 2020

NEW DELHI/SINGAPORE Indian Oil Corp, the country's top refiner, is seeking to buy up to 24 million barrels of U.S. oil for delivery between October 2020 and March 2021, tender documents showed, as part of its efforts to diversify supply.

World News