Oil prices edged up on Wednesday after the Organization of the Petroleum Exporting Countries said it saw no signs of global recession and rival U.S. shale oil production could grow by much less than expected in 2020.
Also supporting …
Saudi Arabia Oil and Gas Market, Size, Share, Outlook and Growth Opportunities 2020-2026 – ResearchAndMarkets.com
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The downturn that may ensue if OPEC doesn’t redouble its efforts could be acutely painful for many of the cartel’s members.
With their next meeting just weeks away, OPEC and its partners are showing no impetus for …
Mega-IPOs have a record of causing technical glitches on stock markets as they can lead to a surge in trading orders that swamp an exchange’s system and can prevent investors from buying or selling stock.
RIYADH/DUBAI ( …
Russia lowered its oil output to 11.23 million barrels per day (bpd) last month from 11.25 million bpd in September, missing again its obligations under a global pact to curb production, energy ministry data showed on Saturday.
The Organization …
Source: Reuters
LONDON (Reuters) – OPEC oil output has bounced in October from an eight-year low as a rapid recovery in Saudi Arabian production from attacks on oil plants more than offset losses in Ecuador and voluntary curbs under a …
Source: Houston Chronicle
Oil declined for a second day on expectations of rising inventories at a key pricing point in Oklahoma.
Futures in New York fell as much as 1.4% after dropping 1.5% Monday. Genscape Inc. said oil stored at …
Source: Reuters
NEW YORK (Reuters) – Oil prices eased on Monday after four days of gains as worries about weak Chinese industrial data offset hopes oil demand will rise as talks progress on a Sino-American trade deal.
Brent futures were …
Source: Reuters
LONDON (Reuters) – Oil prices eased on Friday but were on track for strong weekly gains as support from a surprise draw in U.S. inventories and possible action from OPEC and its allies to extend output cuts outweighed …
Source: Reuters
NEW YORK (Reuters) – Oil prices fell more than 1% on Monday after comments from a U.S. official stymied hopes that a U.S.-China trade deal would be reached soon, prompting renewed concern that a slowing global economy would …
Source: Reuters
OPEC has granted Nigeria a higher oil output target under an OPEC-led deal to limit oil supply in a move unannounced by the group, following efforts by Africa’s largest exporter to tweak the agreement to accommodate its expanding …
Source: Reuters
Russian President Vladimir Putin said on Wednesday that there was no evidence that Iran was responsible for an attack on Saudi oil infrastructure last month and that the United States had not presented any proof of Iran’s role.…
Source: Houston Chronicle
This year, the oil market has faced some of the worst supply disruptions in recent times and yet prices remain stuck in the $60s.
OPEC’s oil production tumbled the most in 16 years last month after the …
OPEC’s oil production tumbled the most in 16 years last month after an attack on Saudi Arabia’s energy facilities temporarily halved output in the world’s biggest crude exporter.
Supplies from the cartel’s 14 members plunged by …
Source: Reuters –
MOSCOW – There is enough oil in global stockpiles to replace barrels Saudi Arabia has temporary lost due to attacks on its oil facilities, Russia’s energy minister Alexander Novak, an ally of Riyadh in a pact to …
Three days of falling oil prices is not a crisis for OPEC, the weakening oil producer’s club, but forecasts of a continuation of the price decline could sap what strength remains in an organization once able to dictate …
OPEC agreed on Thursday to trim oil output by asking over-producing members Iraq and Nigeria to bring production in line with their targets as the group strives to prevent a glut amid soaring U.S. production and a slowing …
Global oil demand is weathering economic headwinds, the International Energy Agency (IEA) said on Thursday, buoyed by lower prices brought on by abundant supply as the United States briefly dethroned Saudi Arabia as the world’s top exporter.
“With …
Making sense of the internal politics of Saudi Arabia has never been easy because of the kingdom’s closed power structure.
But major changes have taken place at the top of the Saudi energy industry in recent days, and …
From CNBC
Saudi Arabia has seriously ramped up its oil exports to China in recent months.
How dramatic is the change? Take a look at this graph, which uses data from oil tanker tracking firm TankerTrackers.com.
The Saudi …
From Reuters
Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies ran into worries about sluggish growth in crude demand due to the U.S.-China trade war.
International benchmark Brent crude settled …
Saudi Arabia plans to keep oil exports below 7 million barrels a day next month as OPEC’s biggest producer allocates less crude than customers demand in a bid to stabilize the market, according to the kingdom’s …
From Reuters
OPEC oil output hit an eight-year low in July as a further voluntary cut by top exporter Saudi Arabia deepened losses caused by U.S. sanctions on Iran and outages elsewhere in the group, a Reuters survey found.
The …
From Reuters
When Saudi Aramco was on the verge of a deal last year to buy a stake in an Indian oil refinery, its boss quickly boarded a company jet in Paris and flew to New Delhi.
Chief executive Amin …
From the EIA
Saudi Arabia’s crude oil production approached a four-year low in May 2019, averaging an estimated 9.9 million barrels per day (b/d), more than 1 million b/d lower than its all-time high in November 2018. Production in Saudi …
In 1933, the government of Saudi Arabia signed a concession agreement with the Standard Oil Company of California, creating an entity …
From Bloomberg
Global oil stockpiles swelled surprisingly in the first half of this year as production cuts by OPEC and its partners failed to prevent the return of …
From Bloomberg/Houston Chronicle
Saudi Arabia, OPEC’s dominant producer, will keep doing the heavy lifting as the cartel and its allies were all but forced to extend their effort to counter the U.S. shale boom into a fourth year.
In a …
From Reuters
VIENNA — Venezuela will stick to its plan of blending domestic and foreign crude to maintain and even increase oil production and exports in the face of sanctions prohibiting U.S. companies from buying the country’s oil, oil minister …
From Bloomberg
It was supposed to be a six-month fling, but Saudi Arabia and Russia have instead signed up for eternity.
Complete with poem …
