Tag Archives: Saudi Arabia

Prices will fall until either Moscow or Riyadh call off the endurance contest.

Saudi Arabia plans to increase its crude oil output next month to more than 10 million barrels a day in response to the collapse of its OPEC+ alliance with Russia, Bloomberg News reported on Saturday. Brent slid to its biggest daily loss in more than 11 years on Friday after …

Russia's oil output increase will now hinge on companies' plans.

The oil market now faces double jeopardy.

The most immediate pain is likely to be felt in the US shale industry.

Saudi Aramco has announced that it will be pumping $110 billion over the next couple of years to develop the Jafurah gas field.

Saudi Arabia has so far been thwarted by Russia in its push to shore up oil markets against the coronavirus. But when they meet next week. the humbled kingdom may yet clinch victory.

Saudi Aramco’s planned purchase of the region’s biggest petrochemical company comes as it targets downstream investments in a move away from relying on crude oil sales.

Saudi Arabia supports the further oil production cut. but Russia is yet to announce its final position on the matter.

The Kingdom consumes 688.000 barrels of liquid fuel to generate electricity.