Saudi Energy Minister Khalid al-Falih said he was "very optimistic" about the outlook for the oil market after producers cut output to support flagging prices.
News ID: 3333 Publish Date : 2019/01/20
OPEC and its allies have formalized their production quotas under their new supply deal, with Saudi Arabia, the world's largest crude exporter, committing to a 322,000 bpd cut from its October level.
News ID: 3058 Publish Date : 2018/12/24
After flooding the US market in recent months, Saudi Arabia plans to slash exports to the world’s largest oil market in the coming weeks in an effort to dampen visible build-ups in crude inventories.
News ID: 2948 Publish Date : 2018/12/17
Ageneral cooperation agreement between OPEC and non-OPEC countries will be signed in three months in Saudi Arabia, the UAE energy minister said Tuesday.
News ID: 2894 Publish Date : 2018/12/12
Russia and Saudi Arabia agreed to extend into 2019 their agreement to manage the oil market, known as OPEC+, although the two sides have yet to agree on any fresh output cuts.
News ID: 2795 Publish Date : 2018/12/03
- King Salman inaugurated the project, in Turaif, which is set to boost GDP and create employment opportunities for locals
- The completion of the project’s next phase would turn the Kingdom into the world’s second largest producer of phosphate fertilizers
News ID: 2689 Publish Date : 2018/11/23
Saudi Arabia's King Salman on Thursday inaugurated the Waad Al-Shamaal mining project, which is expected to boost the kingdom's gross domestic product by 24 billion riyals ($6.4 billion) and its non-oil GDP by around 3 percent.
News ID: 2687 Publish Date : 2018/11/23
Saudi Arabia is slashing shipments of crude to the United States, a move that appears calibrated to boost oil prices after a swift and punishing sell-off.
News ID: 2643 Publish Date : 2018/11/18
Oil prices rose on Friday amid expectations of supply cuts from OPEC.US West Texas Intermediate crude oil futures were at $56.84 per barrel, up 38 cents, or 0.7%, from their last settlement. Brent crude oil futures were up 48 cents, or 0.7%, at $67.10 per barrel.
News ID: 2635 Publish Date : 2018/11/17
Saudi Arabia and Russia, both of whom have boosted their crude output in recent months, were responsible for a $15/b drop in the price of oil and "should cut at least 1 million b/d instantly", an OPEC delegate told S&P Global Platts.
News ID: 2528 Publish Date : 2018/11/07
Iranian First Vice-President Es’haq Jahangiri highlighted the reasons behind the recent surge in oil prices and said US President Donald Trump wrongly thought that the Saudis were able to replace the reduced share of the Islamic Republic in global oil markets.
News ID: 2441 Publish Date : 2018/10/14
Russian and Saudi energy ministers see rising geopolitical risk as driving the recent oil price increase at a time when there is sufficient supply in the market -- a view that resonated with many delegates at Russian Energy Week, as the industry prepares for Iran sanctions to come into force on November 4.
News ID: 2351 Publish Date : 2018/10/04
OPEC’s oil production in September rose by 90,000 bpd from August to 32.85 million bpd—the highest level so far this year, but a plunge in Iranian production partly offset higher production in Saudi Arabia, Angola, and Libya, according to the monthly Reuters survey of OPEC supply.
News ID: 2341 Publish Date : 2018/10/03
Iran's OPEC Governor Hossein Kazempour Ardebili said not much is left of OPEC's international credibility as an organization thanks to the measures taken by such members as Saudi Arabia and the UAE against other founding members like Iran.
News ID: 2218 Publish Date : 2018/09/21
Saudi Arabia is starting to panic, and is growing concerned that the growing number of supply disruptions around the world could cause oil prices to spike.
News ID: 2156 Publish Date : 2018/06/30
Saudi Arabia is likely to support extending OPEC output cuts into the second half of 2017 in an effort to boost oil prices, according to a person familiar with the kingdom’s internal discussions.
News ID: 1089 Publish Date : 2017/04/13
OPEC oil production fell in December but remains well above levels envisaged under a recent deal that took effect in January, the organization's monthly report showed on Wednesday.
News ID: 880 Publish Date : 2017/01/20
OPEC's oil output in December fell from a record high ahead of a deal to cut production, a Reuters survey found on Thursday, helped by attacks on Nigeria's oil industry and top exporter Saudi Arabia trimming exports.
News ID: 842 Publish Date : 2017/01/08
OPEC members are committed to the deal signed last month to cut output as it is in the interest of their flagging economies, Oil Minister Bijan Namdar Zanganeh said.
News ID: 816 Publish Date : 2016/12/30
The Riyadh-based newspaper al-Eqtisadiah retracted a story saying Saudi Arabia is planning to sell almost half of Saudi Arabian Oil Co., the world’s largest oil company known as Aramco.
News ID: 768 Publish Date : 2016/12/27
