Global oil prices are continuing their upward trajectory amid concerns that more Iranian barrels will be removed from the market once U.S. sanctions hit the country’s energy sector Nov. 4. Continue Reading
Crystal ball predictions of US$ 100 per barrel of crude oil have returned for the first time in four years as the U.S. sanctions Iran’s exports. U.S. President Donald J. Continue Reading
Opec and its allies have been responding to requests from the US for increased oil production and doing what they can to prevent prices rising, Saudi Arabia’s Crown Prince Mohammed Continue Reading
Saudi Crown Prince Mohammed bin Salman said the kingdom has met its promise to Washington to make up for Iranian crude oil supplies lost through U.S. sanctions. “The request that Continue Reading
Saudi Arabia’s crown prince insisted the stalled plan to sell shares in oil giant Aramco will go ahead, promising an initial public offering by 2021 and sticking to his ambitious Continue Reading
Saudi Arabia’s crude exports to the United States fell sharply in September as U.S. oil refiners began seasonal maintenance that has allowed crude inventories to rise, data from Refinitiv Eikon Continue Reading
Saudi Arabia will spend US$20 billion on boosting its oil production capacity in the coming years, Energy Minister Khalid al-Falih said, as quoted by Reuters. Earlier this week, the Kingdom’s Continue Reading
Russia and Saudi Arabia struck a private deal in September to raise oil output to cool rising prices and informed the United States before a meeting in Algiers with other Continue Reading
Iran accused Saudi Arabia and Russia on Wednesday of breaking OPEC’s agreement on output cuts by producing more crude, adding that the two countries would not be able to produce Continue Reading
Saudi Arabia will pump 10.7 million bpd of oil in October and will slightly raise this level in November, Saudi Energy Minister Khalid al-Falih said at an energy forum in Continue Reading
