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(Image from article: "Oil prices turn negative on Saudi supply comments")

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Exclusive: West wants Saudi not to neutralize oil release

Oil consuming nations may seek reassurance from Saudi Arabia that it will not cut oil production and neutralize the impact on oil prices if consumer countries release emergency reserves, diplomats and industry sources said.

 

U.S. asks Saudis to lift oil output from July

Saudi Arabia

The United States is pressing Saudi Arabia to boost oil output to fill a likely supply gap arising from sanctions on Iran, Gulf oil officials said, adding that an increase in production is unlikely to be needed before July.

 

Oil prices turn negative on Saudi supply comments

Oil prices turn negative on Saudi supply comments

Oil prices turned lower on Monday as reassurances from Saudi Arabia that extra supply needs had been met soothed market fears over the spread of protests to oil-producer Oman.

 

U.S. oil soars as high as $100 on Libya unrest

U.S. crude jumped to a 28-month high of $100 a barrel on Wednesday, as investors weighed the risk of Middle East unrest spreading from Libya to bigger exporters including Saudi Arabia.

 

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