Saudi Arabia to increase crude supply in oil standoff with Russia

Saudi Arabia will raise its crude supply to a record high in April, the kingdom announced on Tuesday, as it ratcheted up a standoff with Moscow over market share and appeared to reject Russian overtures for new talks. The clash of oil titans Saudi Arabia and Russia sparked a 25% slump in crude prices on… Read More Saudi Arabia to increase crude supply in oil standoff with Russia

Oil prices fall as Saudi Arabia slashes official selling price

Oil prices plummeted around 30% on Monday after Saudi Arabia slashed its official selling prices and set plans for a dramatic increase in crude production next month, starting a price war even as spread of the coronavirus erodes global demand growth. Prices fell by as much as a third following Saudi Arabia’s move after Russia… Read More Oil prices fall as Saudi Arabia slashes official selling price