Energy Investing - David Booth - Are we in for another oil crisis? - Energy Investing - InvestorVillage
This is a semi-private group. You are free to browse messages, but you must be a member of this group to post messages. Join This Group

Group: Energy Investing   /  Message Board  /  Read Message

 
 






Keyword
Subject
Between
and
Rec'd By
Authored By
Minimum Recs
  
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board
Msg  293029 of 306504  at  10/16/2020 5:06:44 PM  by

us2u001


Re: David Booth - Are we in for another oil crisis?

Just a few days ago Saudi Arabia was curtailing plans to increase production.
Didn't they cut prices to China?
 
 
 
 Actually SA just raised their prices to Asia....
 
 

(Bloomberg) -- Saudi Arabia raised pricing slightly for its flagship crude oil shipped to Asia, the first sign of strength in the physical market after a month and a half of weakness and crashing refining margins.

The increase in November pricing marks a change in course for the world’s biggest exporter after it pared prices in September and October as crude use stagnated. It’s potentially a sign of confidence that OPEC+ supply cuts will buoy the market even as the pandemic crimps demand.

State oil producer Saudi Aramco raised pricing for Arab Light crude for Asia, its largest regional market, by 10 cents a barrel to 40 cents less than the benchmark. Aramco had been expected to increase pricing for the grade by as much as 20 cents a barrel, to a discount of 30 cents below the Middle East benchmark, according to estimates in a Bloomberg survey of eight traders and refiners.

 


     e-mail to a friend      printer-friendly     add to library      
| More
Recs: 6     Views: 210
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board








Financial Market Data provided by
.
Loading...