Saudi Arabia will adhere strictly to its commitment to cut output under the global agreement among oil producers, its energy minister said on Monday, expressing confidence that OPEC’s plan to Continue Reading
The International Monetary Fund cut its growth outlook for Saudi Arabia on lower oil production, underscoring the challenges facing the kingdom as it seeks to overhaul its economy. Gross domestic Continue Reading
Saudi Arabia says OPEC is on track to wrap up its production curbs by the middle of the year. That would leave its aim of clearing a global oil glut Continue Reading
Forces of the Saudi-led coalition against the Houthi rebels in Yemen and the rebel group are fighting in the southwestern Yemeni region of Bab el-Mandeb, a vital passage for around Continue Reading
Saudis Seek Up to $50 Billion for Renewables Plan Saudi Arabia will start soliciting bids in the next few weeks for the first phase of a “massive” renewable-energy program costing Continue Reading
Venezuela ’s government began to issue new bank notes on Monday to replace the 100-bolívar bill, made virtually worthless by hyperinflation. President Nicolás Maduro announced early last month that new Continue Reading
Venezuelans are standing in long ATM lines to take out new, larger-denominated bills that President Nicolas Maduro hopes will help stabilize the crisis-wracked economy. Maduro last month said he was Continue Reading
There is little doubt China’s crude oil imports enjoyed a robust 2016, hitting a record high. The question is how long the party can continue? Customs data released on Jan. Continue Reading
China’s crude oil output is expected to drop by 7 percent by 2020 compared with the previous five-year plan as output from some of the nation’s largest, but oldest, wells Continue Reading
OPEC’s campaign to prop up oil prices is getting unlikely support from its biggest customer. China’s production is forecast to fall by as much as 7 percent this year, extending Continue Reading
