Oil Slides After Saudi Price Cuts     Oil prices dropped on Monday after earlier hitting their lowest since July as Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months. Optimism about demand recovery also cooled amid the coronavirus pandemic. Brent crude...

Crude Oil: Saudi Arabia Dips Into Stockpiles Saudi Arabia, the world’s largest crude exporter, further dipped into crude stockpiles in January as exports declined for the first time in four months, data released on Wednesday by the Joint Organisations Data Initiative showed. Exports dropped to 7.29...

Saudi Stock Exchange Slumps Following Oil Facility Attacks   Saudi shares slumped at the start of trading Sunday, the first session after drone attacks on two major oil facilities knocked out more than half the OPEC kingpin’s production. The Tadawul All-Shares Index, which tracks the Arab world’s...

FG Wants S/Arabia To Invest In Refineries The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has said the Federal Government is asking Saudi Aramco for some investment into the nation’s refineries. Kachikwu stated this on Wednesday while speaking with ‘Bloomberg Daybreak: Americas’ on the...

Borno, Yobe IDPs Gets Food Donations From Saudi The Kingdom of Saudi Arabia, through the King Salman Humanitarian Aid and Relief Centre, has donated 140,468 bags of food items to displaced victims of Boko Haram in Borno and Yobe states. In his remarks at flag-off of...

Oil: OPEC Production Climbs As Saudi Arabia Pumps More Crude oil production from the Organisation of Petroleum Exporting Countries increased last month as Saudi Arabia pumped near-record volumes to make good on a pledge to consumers that demand would be met. The kingdom’s oil production grew...