Tag Archives: Saudi Arabia

OPEC decided on December 5 to kick the can down the road yet again, postponing the timeframe for putting additional barrels back into the market until April 2025 and slowing the pace of the notional tapering so that the cuts will not unwind until the end of 2026. This avoids …

The OPEC+ group faced a “reality check” in discussions about its production policy and had the double task of attending to fundamentals and at the same time putting together something to assuage the negative market sentiment, Saudi Energy Minister, Prince Abdulaziz bin Salman, told CNBC in an exclusive interview on …

Top oil exporter Saudi Arabia is expected to slash crude prices for Asian buyers in January to the lowest in years, largely tracking a slump in Middle East benchmark prices last month, traders said on Monday. The January official selling price (OSP) for flagship Arab Light may fall by 70 …

Saudi Arabia’s Neom is perhaps the world’s most controversial architectural project at present, covering 10,200 square miles – almost the size of Belgium – and incorporating renewable energy projects and advanced smart technologies in the middle of the desert. Following several construction delays, rising costs, and criticism over structural aspects …

The US Energy Information Administration (EIA) announced on Sunday that Iraq was the second-largest oil exporter to the United States during the past week, surpassing Saudi Arabia and Mexico. The EIA mentioned that the average US imports of crude oil during the past week from eight major countries reached approximately …

Saudi Arabia’s crude oil exports increased by 80,000 barrels per day (bpd) to 5.75 million bpd in September—the highest in three months, the latest data from the Joint Organizations Data Initiative (JODI) showed on Monday. The September crude exports were the highest since June, likely due to the lower direct …

Weak demand in China will lead to lower supply from the world’s top crude exporter, Saudi Arabia, to the world’s largest crude importer in December, trading sources told Reuters on Monday. The drop in Saudi supply would come despite the fact that the Kingdom has reduced its official selling prices …

Top oil exporter Saudi Arabia may cut prices for most of the crude grades it sells to Asia in December, tracking weakness in Middle East benchmark Dubai, trade sources said. Price cuts for Saudi oil would signal weak demand and provide more evidence for the Organization of the Petroleum Exporting …

As Saudi Arabia prepares to tender 44 gigawatts (GW) of renewable energy projects, it will continue to maintain its oil-producing potential to ensure global energy security, officials from the Kingdom said at the annual investment forum in Riyadh on Tuesday. Saudi Arabia, the world’s biggest crude oil exporter, will keep …

Saudi Arabia, the Middle East’s leading energy producer, continues to pour significant resources into development of low- and zero-carbon hydrogen, apparently determined to capture a major share of the emerging global industry. According to news reports this week, the Kingdom’s Public Investment Fund (PIF) has created Energy Solutions Company to …