Saudi Arabia ///

Saudis delay crude pricing, again, as production cut talks continue

Saudi Arabia delayed a key pricing decision for its crude exports yet again as talks to secure an agreement among global producers for an unprecedented joint supply cut entered a fourth day.

Saudi Arabia and Russia end their oil-price war with output cut agreement

Saudi Arabia and Russia ended a devastating oil price war on Thursday, agreeing to slash output together with other members of the OPEC+ alliance in an effort to lift the market from a pandemic-driven collapse.

Oil extends rally as Russia agrees to production cut

A global supply-curb agreement may be sealed at the OPEC+ emergency virtual meeting on Thursday after Russia said that it is ready to cut oil production by 1.6 million barrels a day, or about 15%.

India buying millions of barrels of Saudi crude for strategic reserves

India, the world’s third biggest oil consumer, is set to snap up millions of barrels of Middle East crude for its strategic reserves, signaling its support for global efforts to rescue the energy market.

Daily Brief podcast, Monday, April 6th

Kurt and Cameron discuss the expanding OPEC+ negotiations, Canada's emerging role in production cuts, and the API's support (or lack thereof) for the broader oil industry.

Oil negotiators race for pact, with U.S. role in the balance

Saudi Arabia, Russia and other large oil producers are racing to negotiate a deal to stem the historic price crash as diplomats said some progress was made on Sunday.

Aramco delays oil pricing ahead of possible OPEC+ talks

Saudi Arabia is delaying the release of its closely-watched monthly oil-pricing list until later this week as the kingdom spars with Russia over a potential meeting of global producers that would aim to halt the collapse in crude.

Trump renews tariff threat on growing Saudi-Russian divide

President Donald Trump ramped up threats to use tariffs to protect the U.S. energy industry from a historic glut of oil, as efforts to forge a global deal to cut output appeared to lose momentum.

Saudi, Russian blame game stalls Monday’s OPEC+ meeting

The OPEC+ meeting to try to end the oil price war is unlikely to go ahead on Monday as previously expected, as Riyadh and Moscow trade barbs about who’s to blame for the collapse in oil prices.

Daily Brief podcast, Friday, April 3rd

Kurt Abraham and Cameron Wallace review all the developments in Washington, Moscow and Riyadh this week, and what they mean for the emergency OPEC+ meeting on Monday.

OPEC+ members seek to broaden coalition in output cut plan

The OPEC+ coalition is pushing for other major oil producers to join it in a deep reduction of global crude output to stem the historic rout in prices.

Saudi Arabia calls for an urgent meeting of OPEC+ following Trump phone call

A statement released by the state-run Saudi Press Agency read, in part, “the Kingdom calls for an urgent meeting of OPEC + and a group of other countries, with the aim of seeking a fair agreement that will restore the desired balance to the oil markets.”

Trump expects Saudi, Russian oil production cuts after phone call

President Donald Trump said he expects Saudi Arabia and Russia to cut oil production by about 10 million barrels after he spoke by phone with Crown Prince Mohammed Bin Salman on Thursday.

Daily Brief podcast, Wednesday, April 1st

Kurt and Cameron cover action on many fronts in Washington, Saudi Arabia fires their opening salvo in the oil price war, and Texas regulators share their demand projections.

Russians open door to talks, as Saudis charge ahead with 12 MMbpd output

Saudi Arabia showed no sign of bowing to pressure from President Donald Trump to dial back the oil-price war with Russia as the kingdom pushed crude supply to record levels.

Trump says the U.S., Russia, Saudi Arabia to meet on oil price crash

President Donald Trump said the U.S. would meet with Saudi Arabia and Russia with the goal of staunching an historic plunge in oil prices.

Saudis unleash oil exports for April, as promised

Saudi Arabia has made good on its pledge to ramp up oil exports in April, with a first wave of crude already on its way toward Europe and the U.S., a clear sign the price war remains in full swing.

Daily Brief podcast, Monday, March 30th

Trump and Putin talk about the oil market via phone today, and the Saudis make a move to increase cash reserves while prices reach another constant-dollar low.

Saudi Aramco considers $10B pipeline stake sale to raise cash

Saudi Aramco, the world’s largest oil producer, is weighing the sale of a stake in its pipeline unit to raise money amid a slump in crude prices, according to people familiar with the matter.

Saudis dispel rumors, saying no talks with Moscow on oil output

Saudi Arabia held firm on its position in the price war with Russia, saying on Friday that the kingdom hasn’t had any contacts with Moscow about oil production cuts or about enlarging the OPEC+ alliance.