Middle-east Arab News Opinion | Asharq Al-awsat

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Oil tanks seen at the Saudi Aramco headquarters during a media tour at Damam city November 11, 2007. REUTERS/ Ali Jarekji/File Photo

Saudi Arabia Defends its Leadership of Oil Market with Two Weapons

by Wael Mahdi | Aug 22, 2016 | Business

Khobar-For long years, Saudi Arabia has been pioneering the crude oil market, given that it has been the biggest source of crude oil and biggest producer regarding quantity. However, this year, countries were not competing on their share of crude oil in the market,...

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Saudi Arabia Reduces Oil Prices. Reuters

Saudi Arabia Reduces Oil Prices

by Wael Mahdi | Jul 1, 2016 | Business

Khobar-Saudi Aramco announced on Thursday the list of new prices for August as it will cut all official selling prices for its crude sales to Asian and U.S. clients. State-owned Saudi Arabian Oil Co. lowered its official selling price for Arab Light crude to Asia by...

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Aramco: Brexit Did not Affect our European Share

by Obaid Al-Suhaymi | Jun 30, 2016 | Business

Dammam-Eng. Amin H. Nasser, president and CEO of the Saudi Arabian Oil Company (Aramco) said that the UK’s decision to leave the EU didn’t affect Aramco’s share in the European markets or its oil quantities exported to Europe. Nasser’s words came during the launch of...

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The price of regular unleaded gas is pictured at 3.79 U.S. Dollar per gallon (3.7 Liter) at a 76 gas station in Los Angeles.

U.S. Oil Looks For a Home in Europe, Facing Record Oversupply

by Asharq Al-Awsat English | Mar 4, 2016 | Business, World

Crude cargoes are progressively flowing more towards Europe where shipping costs are lower and prices are higher, a fact that have turned the region into a magnetic hunting field of attraction to those concerned in selling light sweet oil, with U.S oil inventories...

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Traders work on the floor of the New York Stock Exchange

U.S Stocks-Wall Street Lower As Crude Oil Slips

by Asharq Al-Awsat English | Mar 2, 2016 | Business, Latest News, World

As oil prices slipped after data showed U.S. crude stockpiles touched record highs, Wall Street edged lower on Wednesday. After a report from the American Petroleum Institute (API) showed that a rise in crude stockpiles was much higher than estimates, the U.S. crude...