WorldOil Saudis reduce oil supplies to Asian, European refiners after OPEC+ cut Saudi Aramco will supply less crude as part of long-term contracts next month, giving some Asian processors 20%-30% less than they had sought, according to company officials who received the notices but asked not to be identified as the information is private. Asian oil refiners target European crude as Saudi output falls There have been signs across the oil market of traders expecting tighter supplies following the Saudi cuts. The shape of the Brent futures curve returned to backwardation earlier this week, meaning more immediate prices are trading at premiums. Mohammed bin Salman unveils his plan for Saudi Arabia’s post-oil future The prince's plan to diversify the economy of the world’s largest crude exporter spans more than 10,000 square miles in a remote area of Saudi Arabia's northwest. It’s described on its website as “a bold and audacious dream” that will become a hub for new technologies and businesses. Saudis raise oil prices for U.S., Asian shipments after output cut State producer Saudi Aramco on Wednesday raised its flagship Arab Light oil to Asia, its biggest market, to $1 above the benchmark used by the company. U.S. imports no Saudi crude for the first time since 1985 The U.S. didn’t import any Saudi crude last week for the first time in 35 years, a reversal from just months ago when the Kingdom threatened to upend the American energy industry by unleashing a tsunami of exports into a market decimated by the pandemic. Saudi Arabia cements its role as leader of the global oil and gas market “We are the guardian of this industry,” Saudi Energy Minister Prince Abdulaziz bin Salman said as he announced Saudi's production cut on Tuesday, preserving the OPEC+ deal and sending oil prices to 10-month highs. He emphasized that the decision was made unilaterally by Crown Prince Mohammad bin Salman himself. Weak oil prices pushed Saudi export revenue down 25% in October Saudi Arabia’s export revenue fell by nearly a quarter in October from a year earlier, driven largely by a slump in global oil prices. Google risks upsetting its employees with new Aramco deal Google will start selling its cloud-computing services in Saudi Arabia through a deal with oil producer Aramco, risking a backlash from staff who oppose doing business with the fossil fuel industry or regimes accused of human rights abuses. Sercel wins second Saudi mega-crew equipment contract CGG announced that Sercel has won a second major contract to supply land seismic equipment to a leading seismic acquisition contractor for a 3D mega-crew survey in Saudi Arabia. Second tanker attacked in the Saudi Red Sea in three weeks Tensions in the area have risen as the U.S., a Saudi ally, ramps up sanctions on Iran, which backs the Houthis in Yemen’s civil war.