Saudi Arabia

Oil Prices Could Reach Unimaginable Heights If Saudi Arabia, Iran Go to War

In an interview Sunday on CBS's 60 Minutes, Saudi Arabia's Crown Prince Mohammed bin Sultan said that a war between his country and Iran would send crude oil prices soaring: ...
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US Oil Stockpile Posts First Build in 5 Weeks

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning showing that U.S. commercial crude inventories increased by 1.1 million barrels last week, maintaining a total ...
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US Keeps 645 Million Barrels of Oil Buried Under Ground for Emergencies

America’s Strategic Petroleum Reserve is the largest supply of emergency oil in the world. After drawing down several million barrels in two of the past four months, the amount has ...
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High Oil Prices Could Tip Global Economy Into Recession

Many European nations have gross domestic product (GDP) growth rates that are the worst since the Great Recession. The region's largest economy, Germany, already may have tipped into negative growth. ...
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10 Unbelievable Oil and Gas Movers After Saudi Drone Attack

Crude oil prices spiked by around 20% over the weekend following the drone attack on Saudi Arabia's Abqaiq crude processing plant. It could have been worse. High global crude oil ...
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Very Mixed Reactions to Saudi-Attack Oil Price Spike in Transportation Stocks

The weekend attacks on Saudi Arabia's oil production and infrastructure have created major moves in the markets. After all, Saudi Arabia has close to 10% of global production, and roughly ...
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Odds of $100 Oil Surge

Is it unimaginable that oil prices could reach $100 a barrel? No. Crude prices reached that point just over a decade ago. Drone attacks on Saudi oil fields pushed the ...
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The Weaponization and Attacks Using Drones Have Only Just Begun

The weekend of September 14, 2019, was a monumental one in the world where the old economy can be crippled by new technologies. Saudi Arabia's Abqaiq oil processing facility under ...
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US Tops Saudi Arabia as World’s Largest Oil Exporter

The demand for crude oil has risen recently, according to an organization that tracks supply and demand. The surge in U.S. production and the politics of OPEC finances allowed America ...
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Why Saudi Arabia Is Changing Its Top Oil Industry Executives

The initial public offering (IPO) of a rumored 5% stake in Saudi Arabia's national oil company, Saudi Aramco, heated up last month, and more fuel was added over the weekend ...
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Who Cares About OPEC’s Monthly Oil Market Report Anymore?

There was a time when any pronouncement on the oil market from Vienna, home of the Organization of the Petroleum Exporting Countries (OPEC), was parsed with nearly the same care ...
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Why China Imports Much More Saudi Oil Than the US

Saudi Arabia has responded to the reimposition of U.S. sanctions on Iranian oil sales by directing more oil to China and less to the United States. According to U.S. Energy ...
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Saudi Aramco Unveils First Financial Results

The Saudi Arabian Oil Company, better known as Saudi Aramco, released first-half 2019 results Monday morning ahead of the state-owned company's first-ever conference call to discuss those results. There should ...
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Saudi Airline First to Cancel Boeing 737 MAX Order

Saudi Arabian Airlines' (Saudia's) budget carrier, Flyadeal, has canceled a commitment to order placed last December for 30 Boeing Co. (NYSE: BA) 737 MAX jets, along with options for 20 ...
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Why Does OPEC Even Hold Meetings?

The Organization of the Petroleum Exporting Countries (OPEC) has officially agreed to extend its production cuts for an additional nine months. And the sun rose in the east. The agreement ...
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