Tag: Saudi Arabia

February 15, 2019

Analysts say oil prices are approaching breakout levels, and the final day of trading this week will offer clues about whether crude futures can keep rallying. Brent crude on Friday topped $65 a barrel for the first time this year, […]

February 14, 2019

Officially, Venezuela has the world’s largest crude oil reserves with 303 billion barrels of proved reserves. In reality, a lot of this oil is extra-heavy crude oil, and may not be economical to produce at prevailing prices. Thus, some portion […]

February 12, 2019

OPEC fell just short of its production goal in January, as a fresh round of output cuts from the 14-nation producer group got under way. The slight miss comes as the group once again cut its outlook for global oil […]

February 5, 2019

During just six months crude oil prices ripped higher by about 20 percent, plunged more than 40 percent and snapped back 25 percent, an intense volatility that analysts warn could be the new normal in the oil market. December was […]

January 17, 2019

OPEC slashed production in December, delivering a bullish signal to the market one month before the producer group officially began a fresh round of output cuts. Last month, OPEC struck a deal with Russia and nine other nations to keep […]

December 27, 2018

The annual UN climate change talks ended just as the festive season was upon us with the conclusion focusing on two key points. An agreement was reached to develop a set of common rules but countries, again, failed to adopt […]

December 14, 2018

In a couple of recent columns, I have highlighted President Trump’s apparent blind spot when it comes to oil prices. His position would have been understandable a dozen years ago, when net imports of oil into the U.S. had reached […]

December 5, 2018

Ministers from the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC partners like Russia descend on Vienna this week with the idea of taming an oil market whipsawed by extreme volatility. But any notion that the cartel can successfully “manage” […]

November 30, 2018

The energy alliance between OPEC kingpin Saudi Arabia and non-OPEC heavyweight Russia faces its “toughest test yet” next week, analysts have told CNBC, ahead of a much-anticipated meeting between the influential oil cartel and its allies. OPEC and non-OPEC members […]

November 21, 2018

Oil bounced above $63 a barrel on Wednesday to claw back some of the previous day’s 6 percent plunge, lifted by a report of an unexpected decline in U.S. crude inventories. The American Petroleum Institute (API) said on Tuesday that […]

November 19, 2018

For those who think – or hope — we’re nearing the end of the age of oil, look no further than today’s media preoccupation with whether or not Saudi Arabia might cut production to manipulate price upwards. The enduring issue, […]

November 16, 2018

Saudi Arabia is slashing shipments of crude to the United States, a move that appears calibrated to boost oil prices after a swift and punishing sell-off. The move could put the kingdom at loggerheads with President Donald Trump, who wants […]

October 24, 2018

According to the 2018 BP Statistical Review of World Energy, in 2017 Saudi Arabia produced 12 million barrels of oil per day. That accounted for 12.9% of the world’s oil production, which is in the range of the world’s two […]

September 28, 2018

OPEC producers and President Donald Trump are both embracing a “show me” attitude to energy market uncertainty, analysts told CNBC on Friday, as traders speculate about the possibility of $100 a barrel before year-end. “The market and certainly the U.S. […]

September 21, 2018

Analysts don’t expect Saudi Arabia and its allies to make a major policy decision at this weekend’s meeting of oil- producing nations, but the Saudis face another challenge: appeasing President Donald Trump while keeping the kingdom’s vision for a grand […]

September 20, 2018

President Donald Trump tweeted on Thursday the Organization of the Petroleum Exporting Countries needs to keep crude prices lower because of the military protection the U.S. provides for the region. “The OPEC monopoly must get prices down now,” Trump said […]

August 7, 2018

President Donald Trump better be as good of a negotiator as he claims. U.S. oil and natural gas producers – and American consumers – have a lot riding on President Trump’s unorthodox approach to foreign affairs and trade. The president […]

July 16, 2018

With OPEC’s supply cut agreement effectively dead, and Saudi Arabia and Russia racing to hike production, the oil market has clarity on a critical component of global supply. Under pressure from President Donald Trump, Saudi Arabia is preparing to max […]

July 2, 2018

It seems like only yesterday that “it came from the internet” was a snarky comment about the reliability of a fact, and so it seems surprising that so many try to parse the meaning and/or truth of President Trump’s tweets. […]

June 22, 2018

OPEC ministers announced a deal on Friday that will increase oil supplies from the producer group, which has been capping output in order to balance the market and boost prices for the last 18 months. The agreement came after a […]