Saudi Arabia to cull billions of dollars of projects
Saudi Arabia is planning to cull billions of dollars of projects as part of its latest cost-cutting measures to narrow a gaping budget deficit and balance the books by 2020. Continue Reading
Saudis Curb Oil to China, Southern Asia as Others Spared
Saudi Arabia was said to cut February crude sales to China and southern Asian nations while largely sparing countries including Japan and South Korea, as it curbs supply as part Continue Reading
Kuwait Says Saudi Arabia to U.A.E. Comply With OPEC Output Cuts
Oil producers from Saudi Arabia to the United Arab Emirates are complying with production cuts promised last year to stabilize the market, Kuwait’s governor to the Organization of Petroleum Exporting Continue Reading
Saudis, Russia to diverge on speed of oil output cuts: Kemp
OPEC and non-OPEC members have pledged to cut their combined oil production by an average of just over 1.7 million barrels per day (bpd) in the first six months of Continue Reading
Saudi Aramco explores Feb oil supply cuts of 3-7 percent to meet OPEC target
Saudi Aramco has started talks with customers globally to discuss possible cuts of 3 percent to 7 percent in February crude loadings to comply with OPEC production cuts, four sources Continue Reading
Aramco Raises Oil Pricing to Asia and U.S. as OPEC Cuts Output
Saudi Arabia raised pricing for February oil sales to Asia and increased premiums for light grades to the U.S. as the world’s largest crude exporter prepares to reduce output to Continue Reading
Saudi Aramco IPO May Not Happen If Oil Prices Rise
Apart from trying (and managing) to talk up oil markets in recent months, Saudi Arabia has been stoking investment banks as well with the plan to sell 5 percent of Continue Reading
Analyst: Istanbul Attack Precursor To ISIS Strike On Saudi Oil
ISIS has claimed responsibility for the shooting in a nightclub in Istanbul on New Year’s Eve, in which a gunman – who is still at large – killed 39 people, Continue Reading
Saudi Arabia to raise February term crude prices to Asia
Top oil exporter Saudi Arabia is expected to raise prices for all grades of crude it sells to Asia in February, tracking strength in the Dubai price benchmark and robust Continue Reading
Saudi cabinet stresses need to implement oil output cut: statement
Saudi Arabia stressed on Monday the importance of co-operation among oil producers to abide by a decision in November to cut production. OPEC agreed in November its first oil output Continue Reading