Saudi Arabia is significantly cutting its crude oil exports to the United States this month, with shipments likely to hit a 35-year low and reducing the overhang in U.S. oil Continue Reading
Following the demand and oil price crashes, Saudi Arabia has idled offshore rigs and postponed the start of a US$18-billion expansion project, Bloomberg News reported on Wednesday, citing sources familiar Continue Reading
After flooding the U.S. with crude earlier this year, Saudi Arabia has all but cut off the taps to the American oil market. The kingdom has exported just one cargo to Continue Reading
Saudi state oil giant Aramco has finalized the purchase of a majority stake in petrochemicals major Sabic on the Saudi stock market, Reuters reported , buying over 2 billion shares Continue Reading
Saudi Arabia’s oil giant Aramco has cut the crude oil shipments loading in July to at least five of its customers in Asia, Reuters reported on Monday, quoting sources familiar Continue Reading
Saudi Arabia shocked the markets this week when it said it would not keep up the voluntary portion of the cuts–the extra cuts beyond the official OPEC+ agreement–past June. The Continue Reading
Saudi Arabia is considering cancelling the hajj pilgrimage season for the first time since the kingdom was founded in 1932, after cases of coronavirus in the country topped 100,000. “The issue Continue Reading
Saudi Arabia exported crude oil worth some $40 billion during the first quarter of the year, down by 21.9 percent, or $11 billion, on the first quarter of 2019, Reuters Continue Reading
Saudi Arabia sees signs of “thriving” demand in the oil market after the collapse triggered by the pandemic, the kingdom’s oil minister said on Monday. Prince Abdulaziz bin Salman said Saudi Continue Reading
Saudi Arabia has instigated two oil price wars in the last decade and has lost both. Given its apparent inability to learn from its mistakes it may well instigate another Continue Reading
