Saudi Supertankers Stranded As Oil Price War Backfires
Saudi Arabia has made good on its early-March promise to flood the world with oil, but with demand collapsing and storage filling fast, the world’s top oil exporter must now Continue Reading
Saudi Arabia to tap cash reserves, increase debt to stem impact of price slump, pandemic: minister
Saudi Arabia plans to draw down Riyals 120 billion ($32 billion) from its cash reserves, and increase borrowing this year by Riyals 120 billion, in attempt to stem the damage Continue Reading
Saudi Arabia may re-route tankers if U.S. imposes crude import ban, sources say
Saudi Arabia is exploring re-routing millions of barrels of oil on board tankers sailing to the United States if President Donald Trump decides to block imports of crude from the Continue Reading
Iraq seen struggling to invest $10 bil to wean itself off Iranian gas and electricity imports
With just three days remaining to the expiry of a 30-day US waiver to import Iranian gas and electricity, Iraq will struggle to drum up some $10 billion in investments Continue Reading
Incoming 50 Million Barrel ‘Saudi Oil Bomb’ Could Send Prices Even Lower
By now even the 165,727 “professional investors ” who are long the USO ETF on the free, glitch-prone platform Robin Hood, are aware that the problem facing global oil production Continue Reading
Ban On Saudi Crude Won’t Rescue U.S. Oil Industry
Even if the U.S. government will install an outright ban on Saudi oil, it won’t make much of a difference considering the huge demand destruction and filling storage tanks Desperate Continue Reading
Iran’s Guards say launched first military satellite into orbit
Iran’s Revolutionary Guards Corps said on Wednesday it had successfully launched the country’s first military satellite into orbit, at a time of heightened tensions with the United States over Tehran’s Continue Reading
Saudi Arabia Hints At Further OPEC+ Action
As the oil market meltdown intensified a week after the new OPEC+ production cut deal, Saudi Arabia has hinted for a second time in two weeks that it is ready Continue Reading
Iraq does not rule out more OPEC+ measures to halt oil price slide: oil minister
Iraq, OPEC’s second-largest oil producer, does not rule out OPEC+ members taking extra measures to halt the further slide of oil prices, but any steps will need to take into Continue Reading
Trump Eyes Saudi Oil Import Ban, SPR Fill as Prices Go Negative
U.S. President Donald Trump said he’ll look into a proposal to prevent Saudi Arabian oil from unloading in the U.S. and that he wants to fill the Strategic Petroleum Reserve Continue Reading