Saudi Arabia is taking unprecedented measures to cushion the blow of rock-bottom oil prices and the new coronavirus pandemic, as the monarchy seeks to extricate the kingdom from its worst Continue Reading
A peddler arranges clothes at the Sarj Khaneh market in Mosul as the country eases restrictions put in place for the coronavirus pandemic. (Zaid Al-Obeidi/AFP/Getty Images) According to government officials, Continue Reading
India is working with some Arab Gulf states in an effort to repatriate hundreds of thousands of migrant laborers stranded by the coronavirus pandemic, in what could become one of Continue Reading
The two men, who remain at large, were charged with violating U.S. money-laundering and sanctions laws. The U.S. Treasury on Friday separately blacklisted Mr. Dianat, a dual Iranian and Iraqi Continue Reading
Attentive Oilprice readers must have read at least a dozen articles describing how hard Iraq has been hit by the drop in oil prices. Iraq’s political travails are by no Continue Reading
Saudi Arabia’s finance minister has warned the kingdom needs to make “extreme” spending cuts to manage the economy during the COVID-19 crisis and oil price crash. “It is very important Continue Reading
Iraq’s semi-autonomous Kurdish region pump an average of about 468,400 b/d in 2019, with 93% of its oils sales exported at an average price of $52.676/b, according to a Deloitte Continue Reading
Saudi Basic Industries Corp. is suspending new capital expenditure after an oil-price slump and coronavirus-related lockdowns pushed the company into a 950 million-riyals loss ($253 million) in the first quarter. Sabic, as Continue Reading
Iraq’s April oil revenues collapsed to their lowest level in more than a decade, dragging the country deeper into a financial crisis that has paralyzed both the federal government and Continue Reading
Saudi Arabia’s outlook was cut to negative from stable by Moody’s Investors Service as the crash in oil prices and the pandemic sent the kingdom’s reserves plunging to their lowest Continue Reading
