Shale Oil Isn’t Saudi Arabia’s Only Nemesis
Even if Saudi Arabia wins its struggle with U.S. shale producers over market share, it will face a new billion-barrel adversary. It won’t be regional nemesis Iran, a resurgent Iraq Continue Reading
PointState Said to Bet Against Saudi Riyal After Oil Short
As slumping oil prices squeeze Saudi Arabia’s finances, a few big hedge funds are wagering that the kingdom will be forced to abandon a three-decade-old currency peg that has been Continue Reading
Saudi Foreign Assets Approach Four-Year Low After January Drop
Net foreign assets held by Saudi Arabia’s central bank fell below $600 billion in January for the first time since July 2012 as the government of the world’s largest oil Continue Reading
Turkey: Saudi Jets Join Coalition Forces In Incirlik
Four Royal Saudi Air Force (RSAF) Boeing F-15S fighter aircraft arrived Feb. 26 at Turkey’s Incirlik Air Base to support the U.S.-led coalition fighting the Islamic State in Syria, soon Continue Reading
Saudi Aramco Releases Tenders For Ras Tanura Refinery Project
Saudi Arabian Oil Company, known as Saudi Aramco, has released the full commercial and technical tenders for its planned $2 billion clean fuels project at its Ras Tanura refinery, according Continue Reading
Saudi Arabia is reeling from falling oil prices. And it could get much worse.
Stung by falling oil prices, Saudi Arabia has cut spending and subsidies as part of harsh austerity measures that threaten the lavish welfare programs underpinning its stability. The oil-exporting giant’s Continue Reading
Saudi Oil Minister Surprises OPEC with Tough Line on Prices
Saudi Arabian Oil Minister Ali al-Naimi surprised fellow members of the Organization of the Petroleum Exporting Countries on Tuesday when he said the kingdom was prepared to let oil prices Continue Reading
Saudi Oil Minister: Production Won’t Be Cut to Reduce Global Supply Glut
Saudi Arabia delivered its starkest message yet to a reeling global oil industry, ruling out co-ordinated production cuts that could rescue the industry from low prices. Ali al-Naimi, Saudi Arabia’s Continue Reading
What a Saudi Oil-Production Freeze Would Really Mean for Markets
Saudi Arabia shot down rumors it might cut oil production, but reaffirmed its commitment to an output freeze that could restrict crude flows to market this summer. With the world’s Continue Reading
Saudi Arabia declares oil output cut ‘is not going to happen’
Saudi Arabia has ruled out a deal by major producers to cut oil output and warned high-cost operators such as US shale drillers to trim costs or go bust in Continue Reading