Showing results for "Prince Muqrin"

‘Steady as she goes’ OPEC+ policy rewarded by oil markets

  • When OPEC+ takes decisions, markets move. Many analysts were surprised that OPEC+ stayed the course at last Thursday’s ministerial meetings and continued increasing output by 400,000 bpd according to its schedule. Markets liked what they saw: After initially losing ground, oil prices rose ste...
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Some conclusions from reactions to UN IPCC’s report

  • When the UN’s Intergovernmental Panel on Climate Change (IPCC) released its latest report last Monday, it made for grim reading. The 3,949-page document will form the basis for government officials from 195 countries as they descend on Glasgow for the COP 26 climate summit in about three months...
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OPEC+ should not give in to request to increase supply immediately

  • Requests to OPEC from the White House are nothing new when oil supplies are tight or the oil market is broken. Presidents George H.W. Bush, Bill Clinton and George W. Bush all asked OPEC to increase production when markets were tight. Former President Donald Trump famously pushed OPEC+ to drast...
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Why the G7 still matters to the global economy

  • When the leaders of the G7 countries first met in 1973, their combined economies represented around 65 percent of global gross domestic product (GDP). With the rise of China and other emerging nations, they now account for around 40 percent of global GDP and around 10 percent of the world’s pop...
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OPEC+ optimistic on oil outlook while remaining attentive to market developments

  • June 1 was the most optimistic meeting of OPEC+ ministers since the outbreak of the pandemic. Both Saudi energy minister Prince Abdulaziz bin Salman and Russian deputy prime minister Alexander Novak highlighted signs of improvement and economic recovery. It was also one of the shortest meetings...
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Vision 2030 & energy: Why it has been successful and will have a bright future

  • Famous French poet and novelist Victor Hugo once wrote that “nothing is as powerful as an idea whose time has come.” If ever there was an example of these words, it is Vision 2030.  Crown Prince Mohammed bin Salman’s recent interview was a manifestation of it, touching on all aspects of ...
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Conference shows leadership in developing ESG standards

  • The first environmental, social and governance (ESG) conference of the Future Investment Initiative (FII) Institute was a real masterclass in taking into consideration all aspects of ESG standards. The title of the conference “The Neo-Renaissance: Mobilizing ESG for a Sustainable Future” coul...
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Tapering of cuts by OPEC+ seems to have judged market sentiment correctly

  • It came as a surprise when OPEC+ decided to put more than 1 million barrels per day (bpd) of incremental oil supplies onto the market over the three-month period from May through July. The measure went hand in hand with Saudi Arabia’s unwinding of its 1 million bpd of voluntary production cuts ...
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OPEC+ to ease oil curbs starting next month

  • The ministers of OPEC+, an alliance of the OPEC countries, and 10 friendly nations under the leadership of Russia met virtually on Thursday. The ministers decided to release an incremental supply of around 2 million barrels per day (bpd) on the market between May and July. The alliance intend...
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$131 trillion needed to finance global energy transition, says IRENA

  • The International Renewable Energy Agency (IRENA) released a preview of its World Energy Transitions Outlook, just in time for the 7th Berlin Energy Transition Dialogue. Its focus is on keeping the global temperature rise to 1.5 ℃ until the end of the century and bringing CO2 emissions to net...
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