Saudi Arabia
News
January 13, 2019
Saudi Arabia’s energy minister has no quarrels with U.S. shale and even sees output cuts by OPEC and its allies as directly aiding American drillers.
News
January 09, 2019
Saudi Arabia published the first audit of its vast oil reserves since it nationalized its energy industry about 40 years ago, saying its reserves total 268.5 billion, slightly more than the 266.3 billion figure that the government published previously.
News
January 03, 2019
Oil ended another topsy-turvy day by closing near a two-week high, as traders weighed signs that OPEC is following through on production cuts against hints of an economic slowdown.
News
January 03, 2019
Before its agreement to cut oil supplies even started, OPEC’s production plunged by the most in almost two years last month.
News
December 31, 2018
Gulf Arab energy companies are expected to borrow more in 2019 to finance expansion plans after rising oil prices triggered a sharp retreat from debt markets in 2018.
News
December 25, 2018
Saudi Arabia plans to tender or award six water-related projects in 2019 as it pushes ahead with a privatization program that got off to a slow start.
News
December 19, 2018
Oil prices climbed as Saudi Arabia predicted that OPEC will extend supply cuts next year and optimistic economic growth prospects boosted U.S. equities.
News
December 19, 2018
Some analysts say Saudi Arabia’s 2019 revenue forecast is surprising because they estimate it to be based on a relatively high price of oil.
News
December 18, 2018
Saudi Arabia’s government expects to earn more from oil next year, an optimism that defies most price forecasts for crude and contrasts with the kingdom’s history of making conservative financial assumptions.
News
December 14, 2018
Oil traded below $52/bbl in New York, just striking distance from where it trended a week ago after OPEC and its allies announced output cuts, as traders weighed incremental U.S. shale growth against softer demand for 2019.
News
December 13, 2018
After flooding the U.S. market in recent months, Saudi Arabia plans to slash exports to the world’s largest oil market in the coming weeks in an effort to dampen visible build-ups in crude inventories.
News
December 11, 2018
Russia played a big part in making possible a new OPEC+ deal to curb production, but initially it’s letting Saudi Arabia shoulder the bulk of actual cuts.
News
December 09, 2018
Saudi Arabia’s energy minister emerged from days of heated OPEC talks joking that he wasn’t an easy man to be friends with.
News
December 06, 2018
OPEC ended talks without a deal on oil production cuts for the first time in nearly five years as Russia flexed its muscles by so far refusing to commit to the big output curb that Saudi Arabia is demanding.
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.
