U.S. Senators Urge Saudi Arabia To End Oil War
A dozen U.S. Republican Senators are urging the world’s top oil exporter Saudi Arabia to review plans to significantly boost oil supply to the market and lower oil prices while Continue Reading
Is Saudi Arabia To Blame For The Looming Economic Recession?
Saudi Arabia has repeated the blunder it made in November 2014 by increasing oil production during an oil-price collapse. In 2014, it led to a depression in the oil industry. Continue Reading
Supertanker Rates Soar 678% As Saudi Arabia Floods The Oil Market
As Saudi Arabia and Russia began an all-out oil price war for market share, the shipping industry is going through a supertanker run and charter rates for very large crude Continue Reading
Saudi Aramco says can maintain 12 million b/d crude output for a year without new capex
Saudi Aramco can pump crude at its maximum 12 million b/d capacity for a year without any new investment, its CEO said Monday, as the world’s largest oil producer girds Continue Reading
Saudi Aramco Is ‘’Very Comfortable’’ With $30 Oil
Saudi Arabia will continue to pump oil at increased levels through May, Saudi Aramco Chief Executive Amin Nasser said on Monday during an earnings call, according to Reuters. Nasser added Continue Reading
Saudi Aramco reports 21% drop in 2019 profit on lower prices
Saudi Aramco, the world’s largest crude oil exporter, said Sunday its 2019 profit fell 21% to $88.2 billion due to lower oil prices and reduced output. It reduced 2020 estimated Continue Reading
Saudi Arabia’s Oil War Could Bankrupt The Kingdom
Those with a functioning memory may have thought that last week’s decision by Saudi Arabia to maximise oil production to crash oil prices and bankrupt U.S. shale producers was an Continue Reading
Saudi Arabia Strikes Back At Russia In Key Oil Market
The world’s top oil exporter Saudi Arabia is going after Russia’s oil market share in Europe with deeply discounted Arab Light crude at up to three times the usual volumes, Continue Reading
Saudi Arabia’s Crown Prince Tanked Oil Markets. Here’s the Back Story.
In just 24 hours, Saudi Arabia’s crown prince launched an oil-price war with Russia and sidelined a domestic rival to cement his power at home. But his surprise actions on Continue Reading
Saudis Plan for Record Oil Production Capacity in Price War With Russia
Saudi Arabia on Wednesday unveiled plans to boost its oil-production capacity to help fight a price war with Russia, as other producers launched attempts to mediate a truce. The capacity Continue Reading