Dmitry Zhdannikov
1/2
The Royal Dutch Shell logo is seen at a Shell petrol station in London, January 31, 2008. REUTERS/Toby Melville/File Photo
Read More
Climate activists who scored big against Western majors last week had some unlikely cheerleaders in the oil capitals of Saudi Arabia, Abu Dhabi and Russia.
Defeats in the courtroom and boardroom mean Royal Dutch Shell (RDSa.L), ExxonMobil (XOM.N) and Chevron (CVX.N) are all under pressure to cut carbon emissions faster. Thatâs good news for the likes of Saudi Arabiaâs national oil company Saudi Aramco (2222.SE), Abu Dhabi National Oil Company and Russia s Gazprom (GAZP.MM) and Rosneft (ROSN.MM).
Iraqi oil exports stood at about 2.9 million barrels per day (bpd) in May, little changed from the previous month, the country's oil ministry said on Tuesday.
Shu Zhang
4 minute read
General view of Saudi Aramco s Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah
Top oil exporter Saudi Arabia is expected to slightly increase its July official selling prices (OSPs) of light crude for Asia, as margin weakness and demand uncertainty cap the upside despite stronger crude benchmarks, a Reuters survey showed.
Sources at five Asian refiners on average expected the July OSP for Saudi flagship grade Arab Light to rise by 10 cents a barrel, with their forecasts ranging between no change to an increase of up to 20 cents.
The expected adjustment for Arab Light tracked the price strength in Middle East crude oil benchmarks Cash Dubai and DME Oman, which in May saw their premiums to Dubai swaps up by 14 cents and 8 cents respectively from April.