Saudi Crude Burn Set to Rise This Summer ...Middle East

Saudi Arabia’s direct crude burn for power generation is likely to rise this summer compared to last year, potentially easing part of the concerns about a global oil glut as the OPEC+ group continues to unwind its production cuts. Amid rising prices for fuel oil, another staple in power-generating fuels in the Middle East, many countries will be looking to burn more of their crude supply, traders and analysts have told Reuters. Crude burn, the direct use of crude oil in power plants for electricity generation, and the burning of fuel oil…

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