Saudi Arabia hikes most oil prices to Asia, Europe as market tightens | Bloomberg News

📆 8/7/2023 8:00 AM
📰 BusinessMirror

⏱ Reading Time:
20 sec. here
2 min. at publisher
📊 Quality Score:
News: 11%
Publisher: 59%

United States News News

United States United States Latest News,United States United States Headlines

Saudi Arabia raised nearly all oil prices for September to Asia and Europe as supply restrictions and rising demand tightens the crude market. Know more:

Riyadh may need prices of as much as $100 a barrel to cover government spending, according to Bloomberg Economics.Saudi Arabia raised nearly all oil prices for September to Asia and Europe as supply restrictions and rising demand tightens the crude market.

The move comes after the kingdom, the world’s biggest oil exporter, extended a unilateral supply cut into September and said it could be prolonged further or even deepened. Russia also pledged to reduce its exports. Oil posted a sixth straight weekly gain, the longest winning streak in more than a year, after the Opec+ heavyweights extended the cuts and US stockpiles sank by a record.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Heat and wildfires put southern Europe’s vital tourism earnings at riskTourists at a seaside hotel on the Greek island of Rhodes snatched up pails of pool water and damp towels as flames approached, rushing to help staffers and locals extinguish one of the wildfires threatening Mediterranean locales during recent heat waves.
Source: inquirerdotnet - 🏆 3. / 86 Read more »