Showing results for "2 march"

The vision of Saudi Arabia’s founder

  • With the launch of Saudi Vision 2030 in April 2016, the Kingdom is at a crossroads. While crude oil has been the nation’s past, its future depends on us improvising with talents and techniques to make much more of the resources we have been given.  Decades ago, the vision of Saudi Arabia...
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Rising oil prices creating rumors and fake news

  • As anticipated, oil prices continued rising amid stronger demand. Prices reached levels not seen in four years. Brent crude rose to $84.16 per barrel. WTI rose to $74.34 per barrel. The Brent/WTI spread widened further to $9.82 per barrel. Bullish forecasts continue, with some analysts preparin...
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Analyzing Bloomberg’s interview with the crown prince

  • Over the past year, Crown Prince Mohammed bin Salman has given a number of interviews with international media to explain the changes happening in the Kingdom. One of the most viewed was an interview last March with the CBS news program, “60 Minutes.” This was his first interview with an Americ...
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Exemptions to have little bearing on oil cuts impact

  • The cooperation between OPEC’s 15 members and a group of non-OPEC nations led by Russia, known as OPEC+, is set to enter its third year after an agreement was reached in Vienna last week.  Global oil markets were refreshed after OPEC+ reached the agreement for an output cut of 1.2 millio...
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Gas production no longer a dilemma for Saudi Arabia

  • Saudi Aramco’s Wasit Gas Plant. (Reuters) In 2014, the World Energy Council reported that Saudi Arabia was the world’s fifth largest consumer of natural gas, making up over 40 percent of its energy sources. The number has only gone up. Currently, it is around 50 percent, and is...
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How the IEA overplays the US shale revolution

  • Mohammed Barkindo, the Secretary General of OPEC, speaks at the CERAWeek by IHS Markit conference discussing cooperation with the shale industry, in Houston, Texas, US, March 11, 2019. (Reuters) Oil prices last week rose to 2019 highs as a result of the tightening oil market that reflec...
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Trump tweets miss their mark

  •   The second OPEC-related tweet from the US president this year doesn’t seem to have had the desired effect of cooling prices. The US WTI oil benchmark passed the significant $60 per barrel barrier for the first time this year, while Brent crude also hit a new high of $68.39 pe...
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Tight market may give OPEC pause for thought

  • Oil continued its rally, driven by involuntary supply losses from Venezuela, Iran and Libya. The market has steadily tightened for the second month in a row and it seems that Brent has settled around the $70 per barrel mark. Brent closed the week at $71.55 per barrel and WTI increased to $63....
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‘Safety valve’ Saudi Arabia can make up for lost Iranian oil

  • An oil tanker is loaded at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia. (Reuters) Saudi Arabia is more than capable of compensating for lost Iranian oil exports, following the move by the US administration to end waivers to sanctions on Tehran. I...
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A challenging 2019 second half awaits OPEC+

  • Even if OPEC+ has a highly probable rollover of 1.2 million barrels per day (bpd) output cuts for the second half of 2019, as agreed at the G20 Summit by Saudi Arabia and Russia, the next six months will still be challenging.  The resumption of the trade talks between the US and China ma...
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