Saudi Arabia’s oil export revenue falls 21.9%
Saudi Arabia’s export revenue was Riyal 197.84 billion ($52.69 billion) in Q1 2020, down 20.7% from the same quarter in 2019, mainly due to a 21.9% decline in oil export Continue Reading
Saudi Arabia Crude Oil Pricing: OPEC+ Latest News for Regions
Saudi Arabia increased prices for some crude exports by the most in at least two decades, doubling down on a strategy to bolster the oil market after OPEC+ producers extended Continue Reading
Saudi Arabia and Russia Unite to Tackle OPEC’s Pinocchio Problem
A deal to extend record OPEC+ output cuts was going smoothly — until Saudi Arabia and Russia discovered just how much some of their allies had been cheating. In private conversations, Saudi Continue Reading
Saudis Make Biggest Oil Price Hike in 20 Years After OPEC+ Cuts
Saudi Arabia made some of the biggest price increases for crude exports in at least two decades, doubling down on its strategy to bolster the oil market after OPEC+ producers Continue Reading
Saudi coronavirus cases exceed 100,000
The number of coronavirus cases in Saudi Arabia exceeded 100,000 on Sunday following a rise in new infections over the past ten days. The Saudi Ministry of Health reported 3,045 Continue Reading
Saudi Arabia poised to reverse extra production cuts as Opec+ meets
Saudi Arabia is set to unwind the extra production cuts it pledged last month, increasingly confident that the grand bargain agreed by oil producers in April to reduce supply has Continue Reading
Saudi Arabia And Russia Agree To Extend Production Cuts
Saudi Arabia and Russia have reached a preliminary agreement to extend the current level of the OPEC+ production cuts by one month, provided that the laggards in compliance ensure over-compliance Continue Reading
Why Saudi Arabia Is Desperate To Extend OPEC+ Cuts
OPEC+ hopes to reduce global storage volumes with their production cuts, and hopes to extend them through at least, the summer. OPEC’s regular meeting in Vienna is coming up and Continue Reading
Saudi foreign reserves fall as sovereign wealth fund spends overseas
Saudi Arabia’s net foreign reserves fell by about $21bn in April after Riyadh transferred billions of dollars to its sovereign wealth fund to finance its overseas spending spree. Figures released by Continue Reading
Saudi Arabia takes steps to revive economic growth stalled by pandemic, oil price crash
Saudi Arabia, the world’s largest crude exporter, has taken steps to revive economic growth hurt by the COVID-19 pandemic and oil price crash, including making an unprecedented transfer of government Continue Reading