Saudi Arabia
News
June 17, 2020
The world’s biggest oil exporter is hitting the brakes in developing some of its crude and natural gas deposits, idling two offshore drilling rigs as the coronavirus batters energy use.
News
June 17, 2020
After flooding the U.S. with crude earlier this year, Saudi Arabia has all but cut off the taps to the American oil market.
News
June 15, 2020
Saudi Arabia reduced the amount of crude it will supply next month to seven refiners in Asia after OPEC+ agreed to extend its historic output cuts through July.
News
June 05, 2020
Saudi Arabia made some of the biggest price increases for crude exports in at least two decades, doubling down on its strategy to bolster the oil market after OPEC+ producers extended historic output cuts.
News
June 03, 2020
A meeting between OPEC and its allies is unlikely to happen this week as Saudi Arabia and Russia draw a hard line over quota cheating by some nations.
News
May 29, 2020
The move, if confirmed, would give the oil cartel more flexibility to change its current production limits. The existing deal, struck in April as energy demand and prices collapsed because of the coronavirus pandemic, calls for curbs to ease from July.
News
May 29, 2020
Our look ahead the coming week, including how drillers' ability to react to an increase in oil and gas demand could be impacted by technical and manpower limitations, and what key OPEC players have in store for the first week of June.
News
May 29, 2020
An early look at Saudi Arabia’s crude exports for May shows that historic production cuts have done little to squelch the kingdom’s flood of oil to China, which is just getting back on its feet from the coronavirus.
News
May 27, 2020
Russia and Saudi Arabia agreed to closely coordinate on the OPEC+ output cuts deal, two weeks ahead of a crucial meeting of the group.
News
May 19, 2020
The real result of Saudi Arabia's production cuts, how recovering global markets impact large and small shale players differently, and what that means for the future of the industry.
News
May 15, 2020
Despite skepticism over the efficacy of the measures unveiled in mid-April by Saudi Arabia, Russia and their partners, compared to the immense hit to demand, the impact has been substantial. Oil prices have recovered by 60% in the past three weeks, as a pick-up in fuel use is complemented by the supply cuts.
News
May 15, 2020
Key trends for the coming week, including a couple of wild cards that could threaten the recovering global oil price and production balance.
News
May 14, 2020
The Saudis are voluntarily reducing supply to the lowest level in 18 years as they lead a global effort to drain a glut that has dragged down prices by more than half this year.
News
May 13, 2020
Saudi Arabia and Russia see signs that oil demand is recovering as countries around the world start to relax lockdowns imposed to fight the spread of the coronavirus outbreak.
News
May 13, 2020
OPEC presented a bleaker assessment of global oil markets for the second quarter as the coronavirus crisis continues to drain demand, days after some of the cartel’s biggest producers pledged to make even deeper production cutbacks.
News
May 11, 2020
Oil declined as doubts circulated over Saudi Arabia’s ability to implement additional pledged production cuts.
News
May 11, 2020
Saudi Arabia announced an extra voluntary oil-production cut of 1 million barrels a day, bringing output to its lowest in 18 years as the kingdom tries to prop up a nascent recovery in energy markets.
News
May 07, 2020
“The higher prices by Aramco suggest a recovery of demand and a hint that OPEC+ actually started to cut production in their aim to balance the market,” said Hans van Cleef, senior energy economist at ABN Amro.
News
May 06, 2020
State oil producer Saudi Aramco slashed its official selling prices for April crude sales to some of the lowest levels in decades, undercutting rivals. For cargoes loading for Asia in May, Aramco cut pricing even further, and it’s expected to widen discounts to that region for June.
News
April 30, 2020
A fleet of supertankers carrying Saudi oil will add to the growing congestion at U.S. ports in coming weeks at the same time producers are shutting in output as they run out of space to store unwanted supplies.
News
April 24, 2020
Saudi Aramco began reducing oil production earlier this week ahead of the May 1 start date for OPEC+ output cuts, according to a Saudi industry official familiar with the matter.
