Saudi Arabia
News
May 13, 2020
Saudi Arabia and Russia see signs that oil demand is recovering as countries around the world start to relax lockdowns imposed to fight the spread of the coronavirus outbreak.
News
May 13, 2020
OPEC presented a bleaker assessment of global oil markets for the second quarter as the coronavirus crisis continues to drain demand, days after some of the cartel’s biggest producers pledged to make even deeper production cutbacks.
News
May 11, 2020
Oil declined as doubts circulated over Saudi Arabia’s ability to implement additional pledged production cuts.
News
May 11, 2020
Saudi Arabia announced an extra voluntary oil-production cut of 1 million barrels a day, bringing output to its lowest in 18 years as the kingdom tries to prop up a nascent recovery in energy markets.
News
May 07, 2020
“The higher prices by Aramco suggest a recovery of demand and a hint that OPEC+ actually started to cut production in their aim to balance the market,” said Hans van Cleef, senior energy economist at ABN Amro.
News
May 06, 2020
State oil producer Saudi Aramco slashed its official selling prices for April crude sales to some of the lowest levels in decades, undercutting rivals. For cargoes loading for Asia in May, Aramco cut pricing even further, and it’s expected to widen discounts to that region for June.
News
April 30, 2020
A fleet of supertankers carrying Saudi oil will add to the growing congestion at U.S. ports in coming weeks at the same time producers are shutting in output as they run out of space to store unwanted supplies.
News
April 24, 2020
Saudi Aramco began reducing oil production earlier this week ahead of the May 1 start date for OPEC+ output cuts, according to a Saudi industry official familiar with the matter.
News
April 17, 2020
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 familiar with allocations to American refiners.
News
April 17, 2020
Saudi Arabia and Russia signaled they may be open to further output cuts after the latest OPEC+ deal to curb global oil supplies failed to stem crude’s downward spiral.
News
April 15, 2020
Kurt and Cameron discuss oil's crossing of an important psychological milestone, what the Saudis are doing in advance of the OPEC+ cuts taking effect, and an in-depth look at the historic TRRC meeting, and the long-range impact of a decision by the regulator either for or against prorationing.
News
April 14, 2020
Saudi Arabia and other Gulf suppliers may have agreed to cut oil production again starting next month, but by all indications the taps are set to remain wide open until then -- swelling crude stockpiles for at least a few more weeks.
News
April 14, 2020
Saudi Arabia might have just signed off on one of the most notable oil output deals in history, but challenges lie ahead as the kingdom faces keen competition from rival suppliers to the prized Asian market.
News
April 13, 2020
Saudi Arabia is ready to cut oil production further if needed when the OPEC+ alliance meets again in June, the kingdom’s energy minister said.
News
April 10, 2020
The world’s top oil producers pulled off a historic deal to cut global crude output and work towards an end to a devastating price war.
News
April 10, 2020
As a standoff between Saudi Arabia and Mexico threatens to thwart a historic deal to cut oil production, the solution may be to shift the goalposts: measure exports rather than output.
News
April 10, 2020
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.
News
April 09, 2020
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.
News
April 08, 2020
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%.
News
April 08, 2020
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.
News
April 06, 2020
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.
