Tag Archives: Saudi Arabia

The Saudis are working hard on the cut. But if Russia says no cut. then OPEC won'.t cut.

The fiscal deficit continues to narrow in Saudi Arabia.

Russia has for years been cooperating with OPEC. helping to engineer a rebound after a 2014 oil price slump.

Riyadh has suggested OPEC and its allies reduce output by 1 million barrels per day from January 2019 to stem the price falls.

A decision on the production policy in 2019 can be reached at an OPEC+ ministerial meeting in Vienna on December 6-7.

Saudi Aramco plans to boost its gas production to 23 billion standard cubic feet (scf) a day from 14 billion scf now.

The biggest boost to Saudi exports to China comes from contracts inked with new refineries starting up this year and next.

The output from the troika is the fastest-growing element in global oil supplies.

Aramco said last week it would sign five crude oil supply agreements with Chinese customers.

The spending would be in addition to the oil giant'.s proposed purchase of a majority stake in SABIC.