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Saudi Arabia is ramping up prompt spot sales of crude from outside the Strait of Hormuz following the shutdown of the kingdom’s East-West pipeline, which halted cross-country flows to its Red Sea coast.
Beijing, Sept. 12 (Jiji Press)--Energy ministers from the Asia-Pacific Economic Cooperation forum have vowed in a joint statement to boost energy security cooperation, including by fortifying supply chains, amid soaring crude oil prices and growing artificial intelligence-related power demand. At their two-day meeting in Beijing that ended on Friday, the APEC energy ministers stopped short ...
Russia’s production of crude oil shrank in August, lagging further behind its OPEC+ quota, after Ukraine stepped up attacks on the nation’s oil assets.
ANGOLA · ENERGY Key Facts —The signal President João Lourenço said Botswana may join the Lobito Refinery’s shareholder structure “at any moment”, potentially during President Duma Boko’s state visit to Angola this week. —The project Designed to process 200,000 barrels of crude a day, the refinery would be Angola’s largest; construction is about 25 percent […] The post Botswana Could Join Angola’s Lobito Refinery as Shareholder at Any Moment appeared first on The Rio Times.
Mexico’s export crude blend is up 69% in 2026 at US$90.94 a barrel. Falling volumes mean oil revenue still came in below budget in the first half. The post Mexican Crude Up 69% but Oil Revenue Still Misses Budget appeared first on The Rio Times.
Vandana Hari, Founder of Vanda Insights, says oil prices are likely to continue a slow and steady climb as the U.S. and Iran remain locked in a cycle of escalation around the Strait of Hormuz. She says crude futures are not fully reflecting the physical market tightness, pointing to diesel prices near $200 a barrel in Atlantic markets and warning of further scarcity in the coming weeks and months. Hari also says markets would remain cautious even if Hormuz reopened, given doubts over whether any de-escalation would prove sustainable. She speaks with Abeer Abu Omar on Horizons Middle East & Africa. (Source: Bloomberg)