Saudi Arabia has reduced oil prices for Asia by 40 cents per barrel, its first cut in three months. This follows OPEC+'s decision to increase supply by 138,000 barrels per day for April. The move aligns with market expectations, as Russian and Iranian oil supplies to China rise.
"Saudi Arabia eases oil prices for Asia as market reacts to OPEC+ supply hike"
Saudi Arabia, the world’s leading oil exporter, has reduced its crude oil prices for Asian buyers in April, marking the first price cut in three months. This move aligns with market expectations and follows OPEC+’s decision to gradually increase oil supply.
State-owned oil giant Saudi Aramco has lowered the official selling price (OSP) for its flagship Arab Light crude by 40 cents, bringing it to $3.50 per barrel above the average of Oman and Dubai prices. The reduction comes after last month’s peak of $3.90, which was the highest in over a year, driven by tighter U.S. sanctions on Russian oil that disrupted global trade. Prices for other crude grades sold to Asia have also been lowered.
OPEC+, which accounts for nearly half of global oil production, has approved a modest increase of 138,000 barrels per day for April—its first output hike since 2022. Meanwhile, Russian and Iranian oil supplies to China are rebounding, helped by non-sanctioned tankers seeking high profits. This shift is expected to ease supply concerns while reshaping market dynamics in the coming months.
On Sunday, Russian authorities detained a Greek-owned, Liberian-flagged oil tanker after it departed Estonia’s Sillamäe port and entered Russian territorial waters, the Estonian Foreign Ministry said.
Max Verstappen claimed a fourth consecutive Emilia-Romagna Grand Prix victory at Imola, sweeping past Oscar Piastri on the opening lap and holding off a late charge from Lando Norris. The win—his fifth of the season—extended his Imola dominance as Norris and Charles Leclerc completed the podium.
Telegram founder Pavel Durov said Sunday he refused an unnamed Western European government’s request to silence conservative voices in Romania ahead of its presidential run-off, affirming that Telegram will not block political channels or curb users’ freedoms.
Assistant to the President of Azerbaijan Hikmet Hajiyev highlighted a new phase in Azerbaijan-Iran relations, emphasizing enhanced bilateral cooperation during his participation in the Tehran Dialogue Forum.
A large-scale ground operation has commenced in northern and southern Gaza, with reports of rising casualties and extensive damage to infrastructure. Efforts for a ceasefire and humanitarian aid access continue amid growing international concern.
On Sunday, Russian authorities detained a Greek-owned, Liberian-flagged oil tanker after it departed Estonia’s Sillamäe port and entered Russian territorial waters, the Estonian Foreign Ministry said.
Max Verstappen claimed a fourth consecutive Emilia-Romagna Grand Prix victory at Imola, sweeping past Oscar Piastri on the opening lap and holding off a late charge from Lando Norris. The win—his fifth of the season—extended his Imola dominance as Norris and Charles Leclerc completed the podium.
Telegram founder Pavel Durov said Sunday he refused an unnamed Western European government’s request to silence conservative voices in Romania ahead of its presidential run-off, affirming that Telegram will not block political channels or curb users’ freedoms.
A large-scale ground operation has commenced in northern and southern Gaza, with reports of rising casualties and extensive damage to infrastructure. Efforts for a ceasefire and humanitarian aid access continue amid growing international concern.
Thousands of demonstrators gathered across Spain's Canary Islands, urging authorities to address overtourism and its impact on local communities, including rising housing costs, congestion, and strained services.
Ukrainian President Volodymyr Zelenskyy met Turkish President Recep Tayyip Erdogan in Ankara on May 15, with discussions reportedly focusing on upcoming peace talks between Ukrainian and Russian delegates in Istanbul.
Israeli Prime Minister Benjamin Netanyahu said the war in Gaza will not stop until Hamas is destroyed, following the release of US-Israeli soldier Edan Alexander.
Qatar signed a landmark agreement with U.S. aerospace giant Boeing on Wednesday to acquire 160 aircraft for Qatar Airways, a deal valued at $200 billion. The signing took place in Doha during the visit of U.S. President Donald Trump.
Ukrainian and Russian delegations meet behind closed doors at Istanbul’s Dolmabahçe Palace at 10:00 local time today to explore security guarantees, territorial integrity and a possible ceasefire.
EU approves 17th Russia sanctions, blacklisting almost 200 shadow‑fleet ships, 30 evasion firms and 75 defence figures, banning missile chemicals and arming Brussels to strike Kremlin hybrid and operations.
SOCAR Energy Switzerland, a subsidiary of the State Oil Company of the Azerbaijani Republic (SOCAR), has commissioned Switzerland’s first fast-charging station for electric trucks.
The European Bank for Reconstruction and Development (EBRD) has approved its Strategic and Capital Framework (SCF) for the next five years, demonstrating strong and continued support for Ukraine.
The number of billionaires in the UK has dropped for the second year in a row, hitting the lowest level in over a decade, according to The Sunday Times Rich List 2025.
The European Bank for Reconstruction and Development (EBRD) has approved a trade finance line of up to $5 million (€4.4 million) for Unibank under its Trade Facilitation Programme (TFP). The agreement, signed during the EBRD’s 2025 Annual Meeting in London.
Vietnam has approved a $1.5 billion project by the Trump Organization and Kinhbac City to build golf courses, resorts, and homes. Work is set to begin this quarter and finish by mid-2029.
On Sunday, Russian authorities detained a Greek-owned, Liberian-flagged oil tanker after it departed Estonia’s Sillamäe port and entered Russian territorial waters, the Estonian Foreign Ministry said.
Max Verstappen claimed a fourth consecutive Emilia-Romagna Grand Prix victory at Imola, sweeping past Oscar Piastri on the opening lap and holding off a late charge from Lando Norris. The win—his fifth of the season—extended his Imola dominance as Norris and Charles Leclerc completed the podium.
Telegram founder Pavel Durov said Sunday he refused an unnamed Western European government’s request to silence conservative voices in Romania ahead of its presidential run-off, affirming that Telegram will not block political channels or curb users’ freedoms.
A large-scale ground operation has commenced in northern and southern Gaza, with reports of rising casualties and extensive damage to infrastructure. Efforts for a ceasefire and humanitarian aid access continue amid growing international concern.
Thousands of demonstrators gathered across Spain's Canary Islands, urging authorities to address overtourism and its impact on local communities, including rising housing costs, congestion, and strained services.
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