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    2222   SA14TG012N13

SAUDI ARABIAN OIL COMPANY

(2222)
  Report
End-of-day quote. End-of-day quote Saudi Arabian Stock Exchange - 04/22
35.45 SAR   +0.14%
12:05pMARKET CHATTER : Saudi Aramco Reviewing Options for Upstream Oil and Gas Assets
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04/21NEWS HIGHLIGHTS  : Top Energy News of the Day
DJ
04/19NEWS HIGHLIGHTS  : Top Energy News of the Day
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Oil scales 1-year peak as OPEC+ rolls over output for April

03/04/2021 | 06:36pm EDT
FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County

BENGALURU (Reuters) - Oil rallied more than 4% on Thursday, hitting its highest in over a year, after OPEC and its allies agreed to keep production unchanged into April, reasoning that the demand recovery from the coronavirus pandemic was still fragile.

Brent crude rose $2.67, or 4.2%, to settle at $66.74 a barrel, after rising to $67.75, its highest since January 2020.

U.S. crude futures ended $2.55, or 4.2%, higher at $63.83, having also scaled a January 2020 peak, at $64.86.

"OPEC surprised us... The message OPEC is sending market is they're quite willing to see oil prices run hot and ultimately, go a long way in reducing the inventory overhang built last year because of COVID-19," said Bart Melek, head of commodity strategies at TD Securities.

Some analysts had predicted OPEC+, an alliance of the Organization of the Petroleum Exporting Countries and other major producers, would increase output by about 500,000 bpd.

The group's leader Saudi Arabia said it would extend its voluntary oil output cut of 1 million barrels per day (bpd), and decide in coming months when to gradually phase it out.

"There is one thorn to the bullish cocktail though and very few are surprised. Russia wants to boost output," head of oil markets at Rystad Energy, Bjornar Tonhaugen said in a note.

Russia was allowed to raise output by 130,000 bpd in April and Kazakhstan by another 20,000 bpd.

"Russia aside, the biggest winner of an OPEC+ rollover is the U.S.. With such price levels, which are now boosted even more after the news of a possible rollover consensus, the U.S. can comfortably increase production, even from costly break-even projects," Tonhaugen added.

Also supporting sentiment, Yemen's Houthi forces said they had fired a missile at a Saudi Aramco facility in Jeddah.

(Reporting by Arpan Varghese and Sumita Layek in Bengaluru; Additional reporting by Bharat Govind Gautam, Naveen Thukral and Florence Tan; Editing by Marguerita Choy and David Gregorio)

By Arpan Varghese


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL 0.71% 65.54 Delayed Quote.28.24%
S&P GSCI GOLD INDEX -0.60% 1036.9122 Delayed Quote.-5.38%
SAUDI ARABIAN OIL COMPANY 0.14% 35.45 End-of-day quote.1.29%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -1.59% 75.3895 Delayed Quote.3.86%
WTI 0.79% 61.584 Delayed Quote.29.35%
All news about SAUDI ARABIAN OIL COMPANY
12:05pMARKET CHATTER : Saudi Aramco Reviewing Options for Upstream Oil and Gas Assets
MT
04/21NEWS HIGHLIGHTS  : Top Energy News of the Day
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04/19NEWS HIGHLIGHTS  : Top Energy News of the Day
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04/15EXCLUSIVE : Aramco pipeline investors to refinance loan with bonds next year - s..
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04/15Aramco pipeline investors to refinance loan with bonds next year - sources
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04/15MARKET CHATTER : EIG Global To Refinance $10.5 Billion Of Aramco's Pipeline Asse..
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04/14Yemen's Houthis say they attacked Aramco, Patriot targets in Jazan
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04/14Yemen's Houthis say they attacked Aramco, Patriot targets in Jazan
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04/14SAUDI ARABIAN OIL  : Global Spending on Renewable Energy to Hit $243 Billion in ..
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More news
Financials
Sales 2021 1 259 B 336 B 336 B
Net income 2021 349 B 93 003 M 93 003 M
Net Debt 2021 280 B 74 716 M 74 716 M
P/E ratio 2021 20,4x
Yield 2021 3,99%
Capitalization 7 086 B 1 889 B 1 890 B
EV / Sales 2021 5,85x
EV / Sales 2022 5,43x
Nbr of Employees 79 000
Free-Float 1,76%
Chart SAUDI ARABIAN OIL COMPANY
Duration : Period :
Saudi Arabian Oil Company Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SAUDI ARABIAN OIL COMPANY
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 16
Average target price 33,87 SAR
Last Close Price 35,45 SAR
Spread / Highest target 10,0%
Spread / Average Target -4,45%
Spread / Lowest Target -32,3%
EPS Revisions
Managers and Directors
NameTitle
Amin bin Hasan Al-Nasser President, CEO & Executive Director
Khalid Hashim Al-Dabbagh Senior VP-Finance, Strategy & Development
Yasir bin Othman Al-Rumayyan Chairman
Ahmad Abdul Rahman Al-Sa'adi Senior Vice President-Technical Services
Ziad Thamer Al-Murshed Vice President-International Operations
Sector and Competitors
1st jan.Capitalization (M$)
SAUDI ARABIAN OIL COMPANY1.29%1 886 743
ROYAL DUTCH SHELL PLC9.31%145 665
TOTAL SE4.55%116 784
PETROCHINA COMPANY LIMITED14.17%112 972
GAZPROM8.14%71 016
PUBLIC JOINT STOCK COMPANY ROSNEFT OIL COMPANY25.00%66 973