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Oil Price
Russia & Saudi Arabia Ready to Make Deeper Joint OPEC+ Output Cuts to Boost Oil Prices
According to the Russian Energy Ministry, both countries are firmly committed to fulfilling the OPEC+ deal on cutting oil output.
Oil & Gas Trade
Saudis to Sell 600,000 bbl of Oil a Day to the U.S. in April
Saudi Arabia is set to sell about 600.000 barrels a day of crude to the U.S. in April, the highest volume in a year, according to a Saudi industry official fami…
Power Construction
SDRPY Inaugurates New Electricity Project in Yemen
The Saudi Development and Reconstruction Program for Yemen (SDRPY) has launched a new electricity project in Yemen’s Al-Mahra Governorate.
Oil & Gas Trade
Saudi Aramco to Supply Full May Crude Volumes to Asian Refiners
Saudi Arabia, the world's largest oil exporter, has notified some refiners in Asia that it will supply full contractual volumes of crude in May.
Oil Price
Russia’s Oil Pain Deepens as OPEC+ Prepares to Cut Output
The Kremlin may have succeeded in ending its oil war with Saudi Arabia, yet the pain of crude’s crash is only just starting to hit Russia’s budget.
Oil Price
Saudi Arabia Claims The U.S. Was Not Their Target In The Oil War
Saudi Arabia did not intend for U.S. oil producers to suffer, Saudi Energy Minister, Prince Abdulaziz bin Salman, said in an interview with a select group of re…
Oil & Gas Trade
Is Saudi Arabia Restarting The Oil War?
Saudi Arabia’s oil giant Aramco has just announced the pricing for its oil for May, with deeper discounts for customers in Asia for the second month in a row, …
Oil Price
Saudi Arabia Cuts May Crude Prices to Asia by $4.2 Per Barrel
Saudi Arabia's state oil giant Aramco has set the May price for its Arab light crude oil to Asia at a discount of $7.3 to the Oman/Dubai average.
Oil&Gas Drilling
OPEC, Non-OPEC Reach Oil Cuts Deal Amid COVID-19
An emergency video conference between OPEC and non-OPEC ministerial partners, chaired by Saudi Arabia, ended on Sunday.
Oil Price
Mexico's Secret Weapon in the Oil Price War
As Mexico and Saudi Arabia fight over a deal to bring the oil-price war to an end, Mexico has a powerful defense: a massive Wall Street hedge shielding it from …
Oil & Gas Trade
Here Is The "Secret Weapon" That Allowed Tiny Oil Producer Mexico To Defy Giant Saudi Arabia
Mexico's annual spending on its hedge with Wall Street banks is shown in the chart below.
Oil Price
Russian Oil Firms Ready To Agree To A Production Cut Deal
With oil prices below Russia’s budget breakeven and with over 20 percent of global oil demand wiped out by the coronavirus pandemic, Russian oil firms could be…
Oil Shale
Saudi Arabia Denies Trying to kill US Shale, Shifts Blame for Oil Supply Glut on Russia
Rejecting the accusation as “fully devoid of truth,” Saudi Foreign Minister Prince Faisal bin Farhan Al-Saud insisted that the Kingdom is and has always been …
Oil Price
What Really Caused Oil To Rally By 25%?
Oil prices spiked 25 percent on Thursday after President Trump tweeted that Saudi Arabia and Russia would cut production by 10 to 15 million barrels per day (mb…
Oil Price
Oil Falls on Scepticism over Trump's Saudi-Russia Output Deal
Oil prices fell on Friday, coming off their biggest one-day gains in the previous session, after U.S. President Donald Trump said he had brokered a deal between…
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