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BIMCO calls for immediate end to attacks on international shipping

18 December 2023

One month ago, a series of unprovoked attacks on merchant ships began in the Southern Red Sea, Bab El-Mandeb, Gulf of Aden and the Arabian Sea. It is widely believed the attacks originate from the Iran-aligned Houthi movement and the number of attacks has steadily increased, threatening commercial shipping.

Production cuts bite as Saudi Arabian crude oil exports fall 12% m/m

22 June 2023

By agreeing to an additional voluntary production cut within OPEC (Organization of the Petroleum Exporting Countries) of 500,000 barrels per day in May and announcing a further independent production cut of 1,000,000 barrels per day in July, Saudi Arabia is aiming to reduce excess supply and support prices.