Wednesday, July 29, 2026
GOP senator calls on Saudis to end its oil price war, says ‘Americans died’ protecting the kingdom- oil and gas 360

GOP senator calls on Saudis to end its oil price war, says ‘Americans died’ protecting the kingdom

CNBC America’s strategic relationship with Saudi Arabia may permanently change if Riyadh does not end its latest oil price war, Sen. Dan Sullivan told CNBC on Wednesday. “The Saudis have really brought in a supply shock at exactly the wrong time,” the Alaska Republican said on “Squawk Box.” “These kind of crises really make it clear … who your friends are and who aren’t

Oilfield spending to fall 21% as producers slash outlays: report- oil and gas 360

Oilfield spending to fall 21% as producers slash outlays: report

Reuters Global spending on oilfield equipment and services this year will fall 21% from 2019 to $211 billion, the lowest level since 2005, according to a report to be released on Wednesday by consultancy Spears & Associates, as oil and gas producers slash spending. The decline comes as the coronavirus pandemic has crushed oil and gas demand, and Saudi Arabia

Oil prices could soon turn negative as the world runs out of places to store crude, analysts warn- oil and gas 360

Oil prices could soon turn negative as the world runs out of places to store crude, analysts warn

CNBC Global oil storage could reach maximum capacity within weeks, energy analysts have told CNBC, as the coronavirus crisis dramatically reduces consumption and some of the world’s most powerful crude producers start to ramp up their output. The coronavirus pandemic has meant countries have effectively had to shut down, with many governments imposing draconian measures on the daily lives of