OPEC’s No.4 Vows To Boost Spare Oil Capacity
OPEC and allies snubbed calls from U.S. President Donald Trump to lower oil prices, saying on Sunday that they are satisfied with the “overall healthy balance between supply and demand.” Continue Reading
Saudi Arabia’s untested claims of spare capacity may be put to the test
Highlights Kingdom claims 1.5 mil b/d spare capacity Using it limits response to further outages May draw from inventories instead London — Saudi Arabia has tried to dispel any fears Continue Reading
Iran says oil to rise as Saudi, Russia do ‘little and late’
Saudi Arabia and Russia won’t add significantly more oil to the market because of a lack of capacity, a top Iranian official said on Monday, predicting prices will probably rise Continue Reading
Rouhani warns U.S. on sanctions, does not rule out talks
Iranian President Hassan Rouhani on Monday warned the United States against pursuing hostile policies toward Tehran, saying preventing Iran from exporting oil would be “very dangerous”, though he did not Continue Reading
Europe Hopes Oil Demand From China, India and Turkey Will Keep Iran in Nuclear Deal
But Western officials say that the impact of any European measures is likely to be modest and that Tehran’s decision to stay in the pact after U.S. sanctions fully kick Continue Reading
Saudi Royals Turn to Flag Waving and Fireworks to Marshal Support
The push aims to enlist support for 33-year-old Crown Prince Mohammed bin Salman and his vision, which includes a break with the religious zeal of the past. An image of Continue Reading
Saudis To Pump More Crude Oil In The Next Three Months
Saudi Arabia will boost its crude oil production in the coming months as it expects stronger demand, Oil Minister Khalid al-Falih said this weekend, as quoted by S&P Global Platts, Continue Reading
Iran warns U.S., Israel of revenge after parade attack
The deputy head of Iran’s Revolutionary Guards warned U.S. and Israeli leaders on Monday to expect a “devastating” response from Tehran, accusing them of involvement in an attack on a Continue Reading
Iran Seethes at Saudi Arabia, West After Deadly Terror Attack
Iranian officials blame Saudi Arabia for training and funding the separatist group. Saudi officials haven’t commented on the attack and didn’t respond to questions seeking comment. Late Saturday, Iran’s foreign Continue Reading
Saudi Arabia Worries Oil Crunch Could Push Up Prices
The scarcity could push prices above $80 a barrel, potentially putting a strain on U.S. consumers as they decide whether President Trump’s Republican Party will remain in control of both Continue Reading