Saudi Arabia's pledge to fully restore crude production by the end of the month has prompted many to reconsider their price projections.
RIYADH, Sept 18- Saudi Arabia's economic growth in 2019 will be significantly less than the kingdom had expected because of OPEC- led oil output cuts, but the attack on Aramco had "zero" impact on revenue, the country's finance minister said on Wednesday. Jadaan said the oil-driven GDP is influenced by Saudi Arabia's lower petroleum output in the wake of an OPEC- led...
European stocks closed slightly higher Wednesday, amid investor caution ahead of an expected U.S. interest rate cut.
CAIRO, Sept 17- There will be no urgent OPEC meeting, the Saudi energy minister Prince Abdulaziz bin Salman said, Al Arabiya television reported on Tuesday after the weekend attacks on its facilities.
SAUDI ENERGY MINISTER SAYS NO URGENT MEETING FOR OPEC- ALARABIA TV.
LONDON, Sept 17- Saudi Arabia has yet to brief fellow OPEC members and other energy sector players about how long it will take to restore the country's oil output, OPEC and industry sources said as Riyadh tries to assess damage from the weekend's crippling attacks. The United States has said it looked like Iran was behind the strike at the heart of the Saudi oil...
Damage to the top OPEC producer's oil facilities ignited fears of supply disruption around the world and has sent crude prices soaring.
Lord Barker of Battle, executive chairman of En+ Group, discusses the global energy sector and geopolitical uncertainty.
Paul Cheng, analyst at Scotia Capital; Alicia Levine, chief strategist at BNY Mellon Investment Management; and Keith Bliss, managing partner and CEO of IQ Capital USA, join CNBC's "Closing Bell" to discuss how they would trade oil equities after an alleged attack from Iran on Saudi Arabia.
CORRECTED-DAILY TRADING VOLUMES IN FRONT-MONTH U.S.
*Saudi Arabia crude stocks: https://tmsnrt.rs/31saE7g. LONDON, Sept 16- The strike on the heartland of Saudi Arabia's oil industry, including damage to the world's biggest petroleum-processing facility, has driven oil prices to their highest level in nearly four months. Before the attack, the Organization of the Petroleum Exporting Countries global supply...
Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday, knocking out 5.7 million barrels of daily crude production. Dan Yergin, vice chairman at IHS Markit, joins CNBC's "Squawk Box" to discuss the implications of the attack on the energy industry.
*IEA, OPEC chiefs discuss oil market. *UAE says it's still early for emergency OPEC meeting. DUBAI/ LONDON, Sept 16- OPEC is assessing the impact on the oil market from attacks on Saudi Arabian facilities and says it is too early for members to take any action on raising output or holding a meeting, the UAE energy minister and other sources said.
Amrita Sen, co-founder and chief oil analyst at Energy Aspects, discusses the oil market following attacks on a critical Saudi oil production site.
Steve Cohen, head of EMEA iShares at Blackrock, discusses geopolitical volatility and the oil market.
Saudi Aramco has 35-40 days of supply to meet contractual obligations, a source close to the matter told CNBC.
LONDON, Sept 16- The strike on the heartland of Saudi Arabia's oil industry, including damage to the world's biggest petroleum-processing facility, has driven oil prices to their highest level in nearly four months. Before the attack, the Organization of the Petroleum Exporting Countries global supply cushion was just over 3.21 million barrels per day,...
The bulk of those exports go to Asia and the Pacific region, according to OPEC. Country mln bpd China 1.88 Japan 1.02 South Korea 0.89 India 0.74 United States 0.58. Sources: Japans Ministry of Economy, Trade, and Industry; U.S. Energy Department; China General Administration of Customs; Korea National Oil Corp; India's Ministry of Commerce and Industry, Reuters; all...
Saudi Arabia has yet to comment on the extent of damage on its oil production but industry sources have said some 5-6 million barrels per day or 5-6% of global supply have been affected. Saudi Arabia, the Organization of the Petroleum Exporting Countries' de-facto leader and largest producer, has been long seen as the custodian of the world's spare oil capacity.
*China to exempt U.S. pork, soybeans from additional tariffs. *IEA, OPEC see oil surplus in 2020. NEW YORK, Sept 13- Oil prices edged lower on Friday and posted weekly losses, as concerns about slowed global economic growth outweighed hints of progress in the U.S.- China trade dispute.