Saudi Arabia Growing Nervous Over OPEC Compliance
OPEC officials are hoping to limit the production of both Libya and Nigeria, as fears grow that the two exempted members are undermining cuts from the rest of the cartel. Continue Reading
Kuwait To Curb Oil Exports To US—Will Iraq Step In?
In the latest round of OPEC promises, Kuwait’s state run oil company has pledged to cut “contractual sales volumes of oil for 2017” according to Bloomberg Markets . Kuwait Petroleum Continue Reading
Reduced Saudi oil imports lead U.S. oil inventories lower
The Khurais oil field in Saudi Arabia. Continued low imports to the United States of Saudi crude oil is a factor in the decline in U.S. oil inventories. File Photo Continue Reading
UAE buys first U.S. oil cargo to replace Qatar condensate: sources
The United Arab Emirates will import the country’s first oil cargo from the United States, two sources familiar with the matter said, as the OPEC producer sought substitutes to replace Continue Reading
UAE September crude cut should be model for others: energy minister
DUBAI (Reuters) – The United Arab Emirates’ energy minister said on Wednesday that he hoped a decision by Abu Dhabi National Oil Co (ADNOC) to cut crude allocations by 10 Continue Reading
Iraq production shoots up in June
Iraqi Oil Minister Jabbar al-Luiebi (center) lays a cornerstone at the Halfaya oil field, in Missan province, on July 9, 2017. The ceremony marked the beginning of the third and Continue Reading
China, India oil imports show Saudi Arabia is already carrying the burden of cuts:
Saudi Arabia wants to do more to boost crude oil prices by taking a razor to its exports, but the kingdom is already doing much of the heavy lifting in Continue Reading
No Winners in Gulf Feud as Saudi, Qatari Assets Converge on Oil
Investors aren’t taking sides in the biggest political crisis in the Gulf in decades because their focus has already returned to oil. Seven weeks after Saudi Arabia led a Continue Reading
IMF Sees 2017 Saudi Growth ‘Close to Zero’ on Oil Prices, Cuts
Saudi Arabia’s economy will stall this year with growth “close to zero” due to lower oil revenue, the International Monetary Fund said. The fund lowered its 2017 growth forecast to Continue Reading
Saudi Arabia Turns Off the U.S. Oil Tap
At last, Saudi Arabia seems to be doing what it takes to reduce the world’s most visible oil glut: the one in the U.S. Unfortunately, its renewed vigor comes as Continue Reading