Saudi Arabia
News
December 06, 2018
Saudi Arabia proposed a moderate oil-production cut from OPEC and its allies that would nudge the market back into balance.
News
December 05, 2018
Saudi Arabia, Russia and other members of the OPEC+ group recommended an oil production cut, defying a Twitter plea from President Donald Trump to keep the taps open, but their meeting didn’t agree on how big any reduction should be.
News
December 04, 2018
Three days after Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman sent crude prices surging with an agreement to extend cooperation on oil, the kingdom’s top energy official made clear that the terms of a deal remain unresolved.
News
December 03, 2018
Oil surged the most in more than five months as Saudi Arabia and Russia extended a cooperation pact and U.S.-China trade tensions cooled. Unprecedented supply cuts in Canada also drove prices higher.
News
December 03, 2018
ADES International Holding Ltd., oil & gas drilling and production services provider in the Middle East and North Africa, has completed the acquisition of eleven onshore rigs from Weatherford International plc. in Saudi Arabia.
News
December 03, 2018
Qatar said it will leave OPEC next month, a rare example of the toxic politics of the Middle East rupturing a group that had held together for decades through war and sanctions.
News
December 02, 2018
OPEC and friends meet in Vienna later this week, and the backdrop isn’t pretty. Oil prices are their lowest in over a year, and there’s the prospect of a glut in 2019 if the group doesn’t make a new deal to cut production.
News
December 02, 2018
Russia and Saudi Arabia agreed to extend into 2019 their deal to manage the oil market, known as OPEC+, although Moscow and Riyadh have yet to confirm any fresh output cuts.
News
November 30, 2018
The choice facing Saudi Arabia at next week’s OPEC meeting is dramatic: cut oil production and enrage Donald Trump, or keep pumping and risk ultra-low prices blowing up its economy.
News
November 28, 2018
Russia’s oil output in November fell from near-record levels as President Putin prepares to meet Saudi Crown Prince Mohammed bin Salman this week ahead of OPEC+ talks in Vienna.
News
November 27, 2018
The most powerful partnership in the global oil market, which rescued the industry from a deep slump, faces its toughest test yet.
News
November 26, 2018
Crude posted its biggest gain in almost two months as the world’s largest oil exporters prepare to discuss global supplies.
News
November 26, 2018
Saudi Aramco aims to become a global refiner and chemical maker, seeking to profit from parts of the oil industry where demand is growing the fastest while also underpinning the kingdom’s economic diversification.
News
November 26, 2018
Hedge funds haven’t been this pessimistic about global oil prices since Brent crude was spiraling into its worst rout in a generation almost three years ago.
News
November 26, 2018
Saudi Arabia is pumping more crude than at any time since its first barrel was extracted 80 years ago, responding to pressure from U.S. President Donald Trump to keep driving oil prices lower.
News
November 23, 2018
Saudi Arabia is producing oil in excess of 10.7 MMbpd, more than in recent years, Energy Minister Khalid Al-Falih said, giving the strongest indication yet that the kingdom has boosted output to record levels.
News
November 23, 2018
Oil careened lower on Friday, with futures in London slipping below $60 for the first time in a year, as a global stock-market sell-off and signs of record Saudi output helped intensify crude’s late-year freefall.
News
November 22, 2018
The Department of Justice is formally reviewing antitrust legislation aimed at reining in OPEC’s power over oil markets, according to a department official.
News
November 12, 2018
Oil climbed the most in 2 1/2 weeks, halting an unprecedented decline, as Saudi Arabia pledged to curb output and urged allied crude producers to follow suit.
News
November 12, 2018
Saudi Arabia said OPEC and its allies should reverse about half the increase in oil output they made earlier this year as fears of shortages are supplanted by concerns about oversupply and collapsing prices.
