Serene Cheong and Sharon Cho

Government, Business, Fuel

Saudis Curb Oil Supply to Some Buyers After Vow to Pump Less

The Gemini Star oil tanker, owned by a subsidiary of Saudi Aramco, is seen with a tug boat. The Gemini Star oil tanker, owned by a subsidiary of Saudi Aramco, is seen with a tug boat. (Dana Smillie/Bloomberg News)

Saudi Arabia reduced crude oil supplies to at least 11 refiners in Asia and most buyers in Europe after the kingdom volunteered to cut its production by 1 million barrels a day for February and March.

January 13, 2021
Business, Fuel

Oil Traders Brace for Asian Refining Cuts

Pressure tank at the Yanlian Oil Refinery in China in 2005. (Frederic J. Brown/AFP via Getty Images)

Oil traders in Asia are expecting refineries to cut operating rates and extend shutdowns as the spread of coronavirus stops people from flying or traveling by road.

January 30, 2020
Government, Business, Fuel

US Sanctions on Venezuelan Oil Could Benefit China, India

Oil Rig Bloomberg News

If the United States decides to deploy a slate of sanctions that it is said to have drafted against the Latin American nation, American refiners would be forced to cease purchases. That may mean more supply becomes available for the OPEC producer’s other big customers: China and India.

January 24, 2019