Tag Archives: Khalid A Al Falih

GCC countries are thinking about the need to replace lost Iranian barrels.

South Korea’s Iranian crude oil imports fell in May to their lowest since January.

Russia and Saudi Arabia planned to sign a mutual agreement which will draw their cooperation in the energy arena to a new level.

Russia and Saudi Arabia intend to support investment in the oil and gas sector.

Iraq on Monday joined Iran and Venezuela in opposing any plans to start boosting crude output.

Saudi Arabia and some other Persian Gulf producers recently favored the idea of increasing overall output by 300.000 to 400.000 barrels a day.

Now Russia and Saudi Arabia are discussing opening the taps by an extra million barrels per day.

Move follows pressure from US as prices breach $80 a barrel.

India has asked Saudi Arabia for assurances that oil prices will remain stable and moderate.

Concerns raised by the United States that oil prices were too high also made the exporting group start internal discussions.