Tag Archives: CNBC

Saudi Arabia and Russia have been the drivers of the production agreement.

Other analysts say the actions by MBS could undercut one of his own top priorities.

Saudi rulers likely also would like to keep oil prices stable ahead of the planned IPO of state oil company Saudi Aramco expected next year.

In fact. the threat to OPEC from U.S. shale oil just got more serious as it became clear that the cartel and its partners are planning to extend their own agreement until the end of 2018.

A more significant development was Russia agreeing to some yuan-based oil trade in 2015. also the result of U.S. sanctions.

Saudi Arabia will need huge financial and technical resources to build NEOM on the scale it envisages.

Oil prices have fluctuated this year. falling below $45 a barrel and going above $59.

In recent years. several nations opposed to the dollar being the world'.s reserve currency have progressively sought to try and abandon it.

Van Beurden said forecasting oil prices in the short term was ".very difficult.". but he still expected gains.

Eneco and Mitsubishi Corporation (MC) are going to construct. under the name EnspireME. the largest battery system in Europe.