Oil prices fell on Thursday, reversing earlier gains, as news surfaced of Saudi Arabia, the world’s top oil exporter, potentially abandoning its crude oil price target
Oil prices fall on prospects of lower Saudi Arabia price target.Saudi Arabia is preparing to abandon its unofficial price target of $100 per barrel to boost output.SINGAPORE: to prepare for increased production, which weighed heavily on the market.
According to the source, Saudi Arabia is preparing to give up its unofficial price target of $100 per barrel in anticipation of boosting output. “With regards to China, on top of this week’s easing measures announced on Tuesday, fiscal stimulus is likely required to boost household consumption, and to reignite flagging animal spirits,” said Tony Sycamore, a market analyst at IG.
The Energy Information Administration reported a significant drop in US oil inventories, with gasoline demand rising to over 9 million barrels per day and distillate fuel demand surpassing 4 million barrels per day last week.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
Similar News:آپ اس سے ملتی جلتی خبریں بھی پڑھ سکتے ہیں جو ہم نے دوسرے خبروں کے ذرائع سے جمع کی ہیں۔
Oil prices fall on prospects of lower Saudi Arabia price targetSaudia is preparing to abandon its unofficial price target of $100 a barrel as it plans output hike
مزید پڑھ »
Saudi Arabia may cut crude oil prices for Asia in OctoberSaudi Arabia is expected to cut prices after Middle East benchmark Dubai slumped last month
مزید پڑھ »
Pakistan requests a load of $1.75bn from ITFC, IDB, and Standard Chartered BankFinance Minister Aurangzeb is negotiating a deferred oil payment facility with Saudi Arabia, aiming to secure a stable supply whil...
مزید پڑھ »
Pakistan requests a loan of $1.75bn from ITFC, IDB, and Standard Chartered BankFinance Minister Aurangzeb is negotiating a deferred oil payment facility with Saudi Arabia, aiming to secure a stable supply whil...
مزید پڑھ »
Oil prices steady as US output concerns counter tepid Chinese demandBrent crude futures for November held their ground at $72.77 a barrel, but US crude inched to $70.21
مزید پڑھ »
PM Shehbaz, President Zardari congratulate King of Saudi Arabia on 94th National DayPM also praised Saudi Arabia's vision for development and prosperity
مزید پڑھ »