Saudi Arabia

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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The Secrets in Saudi Aramco Bond Filing

Brent crude oil sold for an average of $43.55 a barrel in 2016. To refresh your memory, that was the year that OPEC, particularly Saudi Arabia, chose to fight rising ...
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Saudi Arabian, US Oil Reserves Rising

In a statement posted Wednesday by Saudi Arabia's official news agency, Saudi Aramco officials announced that the kingdom's proved oil and gas reserves rose to 266.3 billion barrels and 302.3 ...
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OPEC and Partners Agree to 1.2 Million Barrel per Day Production Cut

Although an official announcement has not yet been made, reports from the Vienna meeting between the Organization of Petroleum Exporting Countries and its Russia-led partners (aka, OPEC+) indicate that OPEC has ...
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OPEC, Canada Make Moves to Raise Crude Prices

At last week's G20 meeting in Buenos Aires, Saudi Arabia and Russia agreed to extend their crude oil production cuts in an effort to raise the price of benchmark Brent ...
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Can Saudi Arabia Stop the Slide in Crude Prices?

The meeting of the G20 developed economies that began in Buenos Aires Friday has plenty on its agenda, not least of which is what two of the world's top three ...
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Crude Oil Price Remains Soft Following 10th Straight Weekly Rise

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning, showing that U.S. commercial crude inventories increased by 3.6 million barrels last week, maintaining a total ...
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Saudi Oil Production at Record High, Raising Likelihood of Cuts

As much as Saudi Arabia wants the world to believe that it calls the tune in world oil markets, the facts indicate otherwise. And now that the Trump administration has ...
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Crude Oil Dives Again Under Weight of Politics

West Texas Intermediate (WTI) crude oil traded near $51 a barrel Friday morning as traders tote up the likelihood that Saudi Arabia and its partners will reduce production quotas at ...
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Crude Oil Price Creeps Higher Despite Another Massive Inventory Build

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Thursday morning showing that U.S. commercial crude inventories increased by 10.3 million barrels last week, maintaining a total ...
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Saudi Arabia to Cut Production, Likely Ending Drop in Oil Prices

The unprecedented drop in oil prices may be over. A bear market dropped the price of crude from $76 to $60 in one month. Much of the cause was an ...
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