Saudi Arabia is expected to slash the prices for its crude bound for Asia in January to the lowest premium to benchmarks in five years, as the world’s largest crude exporter looks to preserve market share amid ample supply and falling spot Middle East benchmarks. Saudi oil giant Aramco will likely reduce the official selling price (OSP) of its flagship Arab Light crude grade by $0.30-$0.40 per barrel to a premium of $0.60-$0.70 a barrel to the average Oman/Dubai benchmark for loadings to Asia in January, ...

Core Insights - Exxon Mobil reported a decline in profit for the third quarter, primarily due to lower oil prices and increased costs, despite a rise in production from two key oil fields [1] Financial Performance - The company experienced lower profits compared to previous quarters, indicating a challenging financial environment [1] - Weaker oil prices have significantly impacted revenue generation [1] - Higher operational costs have further strained profitability [1] Production Insights - Exxon Mobil has increased production at two important oil fields, which may provide some offset to the declining profits [1]

Occidental Petroleum CEO Vicki Hollub sees oil pricing between $58 and $62 a barrel through 2026, she said Tuesday at the Energy Intelligence Forum in London https://t.co/e4jAopxO2c ...