Saudi Oil Minister Prince Abdulaziz bin Salman likes the idea of OPEC+ acting as the central bank of oil. And he expresses admiration for Alan Greenspan, former chairman of the US Federal Reserve. The challenge now confronting the oil producers’ club is one that’s all too familiar to the Fed: …
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China State Shipbuilding Corporation (CSSC) has just signed a major deal worth an estimated 20 billion yuan or around $2.8 billion with a Middle Eastern oil producer. The world’s largest shipbuilding conglomerate announced on Wednesday that it has inked the agreement with Qatar’s national oil company. The major deal is …
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Immense damage to its revenue streams by the raging COVID-19 pandemic and an ill-timed oil price war has forced Saudi Arabia to unleash a massive emergency stimulus package worth $32 billion to succor its slowing economy. Saudi Arabia has 344 confirmed COVID-19 cases as of Saturday but no deaths. The …
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Russia refuses to open negotiations with Saudi Arabia, which is flooding world markets with cheap oil in a brazen attempt to punish Russia for rejecting substantial oil production cuts that would have steadied sinking oil prices. Saudi Arabia has made huge cuts to its official selling prices for oil. Arab …
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