Tag Archives: Saudi Arabia

Last week. news emerged about preliminary plans to build a $20 billion complex to convert crude oil to chemicals.

Russia is the producer everyone is watching ahead of the OPEC meeting.

Saudis want production cuts extended through 2018. while Moscow wants flexibility.

Both OPEC and non-OPEC members are expected to continue the cuts into 2018 to help keep prices rallying.

Oil markets are on track to come into balance next year.

The two companies had agreed in June 2016 to conduct a feasibility study for the project.

Many experts and officials are expecting the output cut agreement to be extended.

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

The Saudi OPEC governor and Saudi national representative at OPEC are in communication with many countries to invite them to the meeting.

Saudi Aramco participated as a strategic partner in the event.