Tag: Saudi Arabia

Oil demand seen rising by Saudi’s al-Naimi as markets calm

Brent crude futures, a benchmark for more than half of the world’s oil, gained 3.6 percent this year, after plunging 48 percent in 2014.  More »

Saudi oil output rising amid fight for market share

Saudi Arabia, the world’s largest crude exporter, led the Organization of Petroleum Exporting Countries’ decision in November to maintain its output target to preserve market share, rather than cut supply to boost prices.  More »

Iran’s Khamenei threatens to halt oil sales if sanctions persist

Iran’s economy has languished under sanctions imposed over concerns that its nuclear program could lead to the development of atomic weapons.  More »

World’s largest oil exporter said to seek $10 billion

The rapid decline in oil prices since June last year may encourage a wave of consolidation and acquisitions in the energy sector.  More »

Saudi Arabia’s oil exports fell in 2014 in ‘tough year’

Saudi Arabia will maintain output, Oil Minister Ali Al-Naimi said in December, according to the state-run Saudi Press Agency.  More »

Saudi-Dow Chemical moving forward on $20 billion plant

Saudi Arabia, the world’s largest crude exporter, started the petrochemical project in 2011 when oil averaged $111 a barrel.  More »

OPEC producers cut oil prices to Asia in battle for market share

The cuts come after Saudi Arabia, the largest crude exporter, reduced pricing to Asia last week to the lowest in at least 14 years.  More »

Crude prices fall on increasing U.S. supply

After gaining more than $5 since Jan. 28, oil is still about half its June peak amid a global surplus that Iran’s oil minister estimates at 2 million barrels a day.  More »

Citi: Oil could plunge to $20, and this might be ‘the end of OPEC’

Despite global declines in spending that have driven up oil prices in recent weeks, oil production in the U.S. is still rising, wrote Edward Morse, Citigroup’s global head of commodity research.  More »

Oil on track for biggest two-week gain in 17 years

Oil has rebounded as companies including Statoil ASA, BP Plc and Royal Dutch Shell Plc have reduced investments in response to the market’s collapse.  More »

Oil’s next casualty: government budgets

Saudi Arabia, the world’s top producer of crude, will see the budget surplus it has enjoyed in the past turn into a deficit of 4.7 percent of gross domestic product this year.  More »

Crude up slightly from 6-year low

WTI for March delivery gained 8 cents to $44.53 a barrel on the New York Mercantile Exchange.  More »

Oil falls after U.S. crude stockpiles surge to weekly record

Crude supplies rose 8.87 million barrels to 406.7 million, the most in records compiled since August 1982 by the Energy Information Administration.  More »

U.S. crude erases gains following Saudi king’s death

King Salman bin Abdulaziz, who succeeds Abdullah on the throne, said he would maintain his predecessor’s policies.  More »

King Abdullah’s death not expected to change oil policy

No change in oil policy is expected.  More »
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