TV News LIES

Thursday, Apr 09th

Last update06:30:19 AM GMT

You are here News Energy Saudi Arabia floods markets with $25 oil as Russia fight escalates

Saudi Arabia floods markets with $25 oil as Russia fight escalates

E-mail Print PDF

Saudi oilSaudi Arabia is flooding markets with oil at prices as low as $25 per barrel, specifically targeting big refiners of Russian oil in Europe and Asia, in an escalation of its fight with Moscow for market share, five trading sources said on Friday.

The sources, from oil majors and refiners which process crude in Europe, said Saudi state oil company Aramco told them it would supply all requested additional volumes in April.

Sources previously told Reuters Saudi Arabia is also seeking to replace Russian oil with Chinese and Indian buyers, although not all refiners received volumes they had asked for.

Tanker rates soared as Saudi Arabia provisionally chartered around 31 supertankers to take extra oil, including to the United States, where Russian oil is usually less in demand.

More...


Most Recent Related Stories...


OPEC+ meeting delayed as Saudi Arabia and Russia row over oil price collapse

OPEC meeting delayed The delay came amid pressure from U.S. President Donald Trump for the Organization of the Petroleum...

Islamic State attacks Kabul gathering, killing at least 32

Taliban attack in KabulIslamic State gunmen opened fire at a ceremony in Kabul on Friday, killing at least 32...

'We are the verge of a massive collapse': Ex-Energy Secretary Perry says COVID-19 will ravage oil industry

Rick PerryFormer Energy Secretary Rick Perry believes that the oil industry could collapse because of the dramatic...

Drone strikes knock out half of Saudi oil capacity, 5 million barrels a day

Saudis shut down half of oil output after attackDrone strikes on Saudi Arabian oil facilities have disrupted about half of the kingdom's oil capacity,...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!