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FACTBOX: Oil falls after Saudi Arabia calms market over restoring supplies

6 hours ago DieselGasoil Comments Off on FACTBOX: Oil falls after Saudi Arabia calms market over restoring supplies
London — Oil prices fell Tuesday, giving back more than half of Monday’s surge, after Saudi energy minister Prince Abdulaziz bin Salman said he expects most of the country’s lost crude production to be restored within two weeks. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The fast recovery Read More

Saudi Arabia to restore 11 million b/d production capacity within two weeks: energy minister

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Highlights Abqaiq is processing some 2 million b/d Oil prices fall after Saudi attack update Aramco IPO plan still set for next 12 months London — Saudi Arabia expects to restore most of the crude production affected by attacks on two of its key oil facilities within two weeks, the country’s energy minister said Tuesday, Read More

Saudi Arabia partially restores output at damaged oil plant

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By Anthony DiPaola on 9/17/2019 DUBAI (Bloomberg) – Saudi Arabia attempted to move beyond the worst oil disruption in its history, assuring the world that crude exports will not suffer, its damaged facility had partially restarted and production capacity would be back to normal within months. The long-awaited statement on Tuesday from the kingdom — Read More

Saudi energy minister says no urgent OPEC meeting: Al Arabiya TV

9 hours ago DieselGasoil Comments Off on Saudi energy minister says no urgent OPEC meeting: Al Arabiya TV
Saudi Energy minister Prince Abdulaziz bin Salman is pictured during a news conference in Jeddah, Saudi Arabia September 17, 2019. REUTERS/Waleed Ali CAIRO (Reuters) – There will be no urgent OPEC meeting, the‮ ‬Saudi energy minister Prince Abdulaziz bin Salman said, Al Arabiya television reported on Tuesday after the weekend attacks on its facilities. No Read More

Saudi Arabia to restore 11 million b/d production capacity by end September: energy minister

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London — Saudi Arabia expects to restore its oil production capacity to 11 million b/d by the end of end of September and recover its full capacity to 12 million b/d two months later, the country’s energy minister Prince Abdulaziz bin Salman said Tuesday. Not registered? Receive daily email alerts, subscriber notes & personalize your Read More

Crude settles lower as Saudis say able to restore full production capacity by end-November

10 hours ago DieselGasoil Comments Off on Crude settles lower as Saudis say able to restore full production capacity by end-November
New York — Crude futures settled lower Tuesday on news that Saudi Arabia will be able to restore its full crude production capacity by the end of November. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now NYMEX front-month crude settled $3.56 lower at $59.34/b, while ICE front-month Brent settled Read More

Brent below $65/b on report Saudi Arabia to return output in 2-3 weeks

11 hours ago DieselGasoil Comments Off on Brent below $65/b on report Saudi Arabia to return output in 2-3 weeks
New York — Brent crude futures tumbled below $65/b in US morning trading Tuesday following a report from Reuters that Saudi Arabia’s crude production would return in the next two to three weeks. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 1420 GMT, NYMEX front-month crude was trading Read More

Saudi oil output to recover in two or three weeks after attack: sources

13 hours ago DieselGasoil Comments Off on Saudi oil output to recover in two or three weeks after attack: sources
LONDON/DUBAI (Reuters) – Saudi Arabia sought to calm markets on Tuesday after an attack on its oil facilities, with sources in the kingdom saying output was recovering much more quickly than initially forecast and could be fully back in two or three weeks. A satellite image showing damage to oil/gas Saudi Aramco infrastructure at Abqaiq, Read More

Chevron can resume Saudi-Kuwait oilfield quickly if needed: CEO

18 hours ago DieselGasoil Comments Off on Chevron can resume Saudi-Kuwait oilfield quickly if needed: CEO
By Kevin Crowley on 9/17/2019 HOUSTON (Bloomberg) – Chevron could start oil production “relatively quickly” in the so-called partitioned zone between Saudi Arabia and Kuwait if required to by both nations, CEO Mike Wirth said in an interview with CNBC. The zone can produce as much as 500,000 bpd but has been shuttered for at Read More

API: U.S. supply, global efforts cushion global oil markets after weekend attack

18 hours ago DieselGasoil Comments Off on API: U.S. supply, global efforts cushion global oil markets after weekend attack
By Dr. Dean Foreman, Chief Economist, American Petroleum Institute on 9/17/2019 WASHINGTON – An attack on a Saudi Arabian oil processing facility over the weekend has knocked out a significant part of Saudi production, at least temporarily, shaking oil markets. The precise amount and duration of the outage remains uncertain, and there are still unknowns Read More