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Oil supply cuts in Iraq and Libya nudge prices higher

by Saudi Arabia next month as OPEC+ keeps a lid on output. “The implementation of the compensatory cuts...

OPEC+ 2021: How to increase oil output without undoing 2020’s gains

LONDON (Bloomberg) --As one of the most tumultuous years in oil’s history ends, a delicate task now confronts OPEC+. The alliance of producers led by Saudi Arabia and Russia must decide whether... month, OPEC+ talks ran into a five-day stalemate as Saudi Arabia and the United Arab Emirates... to be that you have to go for market share. You cannot subsidize the return of U.S. shale.” Saudi...

How U.S. shale exports forever changed global oil markets

often surpassing those of any OPEC nation aside from Saudi Arabia. These past five years could very well... monthly imports by about 50% since mid-2006. Last week, Saudi Arabian cargoes to the U.S. fell to zero... lockdowns, but Saudi Arabia and Russia remain major suppliers to the country and competition may...

Bechtel promotes Jack Futcher to Vice Chairman; appoints Craig Albert President and Chief Operating Officer

, based in London. Kenny, who most recently led the BACS consortium's work on the Riyadh Metro in Saudi...

Oil prices fall on mounting demand recovery concerns

the Energy Ministry’s CDU-TEK unit. Saudi Aramco may boost the official selling price of its flagship...

Oil demand won’t recover for at least 18 months, say top traders

allies are mulling a production increase of 2 million barrels a day from January 2021. Saudi Arabia...

Exxon may write off $30 billion of shale assets after historic Q3 loss

HOUSTON (Bloomberg) --Exxon Mobil warned it may take up to $30 billion in writedowns on natural gas fields as crashing energy demand and prices spurred a historic losing streak. Exxon is confronting one of its biggest crises since Saudi Arabia began nationalizing its oilfields in the 1970s. If the company takes the full $30 billion impairment, it will be the industry’s worst in more than a decade...

Jim Wright’s win continues Republican control of Texas’ oil regulator

oversees an industry producing more crude than any OPEC member except Saudi Arabia. It’s also...

IEA cuts oil demand outlook on concerns over vaccine’s impact

by Saudi Arabia and Russia had initially aimed to restore some of the supply they’re keeping offline...

Oil prices slide from March’s highs on rising OPEC+ tensions

for Saudi Arabia and its main ally in oil policy, Kuwait,” Horsnell said. “The rally has increased...

Oil prices reach three month high on improving demand outlook

in Yemen, meanwhile, claimed in a statement to have struck a Saudi Aramco fuel distribution center...

ADNOC commits $122 billion to boost oil and gas output

Dhabi government, pumps almost all the oil in the UAE, OPEC’s biggest producer after Saudi Arabia...

Stronger dollar pushes oil prices from nine-month high

. In the short-term, there are indications that consumption in Asia remains robust. Saudi Arabia raised oil...

OPEC president warns against rushing crude production hikes

economies. Saudi Arabia, OPEC’s de facto leader, clashed with the United Arab Emirates at this month’s...

WTI crude nears $50 as oil becomes an inflation hedge

. At a meeting on Sunday, several countries including Saudi Arabia sounded cautious about raising output...