Showing results for "2 march"

How will the Ukraine crisis impact OPEC+ strategy?

  • OPEC producers have gone through meetings during the first and the second Gulf wars smoothly and have managed to overcome political conflicts. Also, they have managed to overcome economic sanctions on Venezuela and Iran. Hence, OPEC has been successful in excluding politics and sanctions from t...
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Vision 2030: A push in the right direction

  • The last few years have been tough on the global economy, mainly due to the coronavirus disease (COVID-19) pandemic. But despite all the difficulties, Saudi Arabia has weathered the storm and managed to keep the national economy afloat. The achievement has further strengthened faith in the Ki...
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Asking OPEC+ to pump more is not always right approach

  • For a US president to ask OPEC, and now OPEC+, to pump more crude at a time of high gasoline prices at the pump is not something new. Donald Trump, for example, approached OPEC for first time in April 2018, after 16 months in office, when the price of West Texas Intermediate (WTI) crude was a...
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The pandemic has proved peak oil demand wrong

  • While the world is not yet back to pre-pandemic travel levels and there is still ongoing disruption to ground transportation and air traffic, the world now consumes more than 95 million barrels of oil per day (bpd) and is forecast to reach an average of 97.7 million bpd during 2021, according t...
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Saudi Aramco still most profitable oil firm, despite lower production

  • Despite OPEC+ output reductions and the extra 1 million barrels per day (bpd) voluntarily cut by Saudi Arabia that lowered the Kingdom’s crude oil output to around 8 million bpd in February and March (the lowest level since 2008), Saudi Aramco remained the most profitable oil company in the wor...
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Young, ambitious and daring: KSA launches 11 initiatives and projects in 90 days

  • The young, ambitious, proactive and daring Saudi Arabia launched 11 initiatives and projects in 90 days during the months of January, February and March, in accordance with the Kingdom’s Vision 2030 goals and strategies. Saudi Arabia is ahead of the curve, as each of these projects and initia...
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US shale producers bullish ahead of OPEC+ meeting

  • In the run up to the OPEC+ March meeting, one of America’s largest shale oil producers has claimed that shale oil is no longer a threat to OPEC. It was a bullish and uncanny statement given that the coronavirus disease (COVID-19) pandemic has ruined any market competitiveness amid an uncertain ...
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Saudi Arabia leads by example in its role as guardian of the oil industry

  • Saudi Energy Minister Prince Abdul Aziz bin Salman speaks via video link during an OPEC+ meeting, Riyadh, Saudi Arabia, April 9, 2020. (Reuters) The recent upward momentum in oil prices did not tempt OPEC+ to increase production this week, even as the price of WTI rises...
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Brent approaching $50: Will it change OPEC+ output strategy?

  • OPEC+ producers have shown great flexibility in adapting their output cuts scenario as the market dictates. Such flexibility may again come into play as the group considers whether to agree a three-month extension to the current 7.7 million barrels per day (bpd) of output cuts as they prepare t...
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Saudi leadership generating dynamic future for Kingdom’s electricity sector

  • Saudi Arabia’s wheel of reforms continues to turn despite the coronavirus disease (COVID-19) pandemic and its severe impact on the global economy. The Kingdom has never stopped moving ahead toward achieving its ambitious Vision 2030 goals. Saudi Energy Minister Prince Abdul Aziz bin Salman ...
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