Tag: Saudi Arabia

June 21, 2018

De-facto OPEC leader Saudi Arabia is pushing for the 14-member oil cartel and its allied partners to increase crude production by 1 million barrels per day (bpd) this week. Saudi Arabia’s Energy Minister Khalid al-Falih said Thursday that the world […]

June 14, 2018

This week the 2018 BP Statistical Review of World Energy was released, which covers energy data through 2017. It is the definitive source for global energy production and consumption figures, and a primary source of data for numerous companies, government […]

June 12, 2018

Saudi Arabia opened the taps in May, increasing its oil output ahead of a critical meeting of crude-producing nations that will determine whether it’s time to unwind a deal to limit production. The Saudis reported the supply spike following reports […]

May 11, 2018

Most power generation consumes water, whether to cool steam in thermoelectric plants or power turbines for hydropower. And the global demand for both water and electricity will continue to increase substantially in the coming decades. Although growth is generally a […]

April 27, 2018

Opec’s goal of defending high oil prices may suit some members in the short run, but its long-term impacts could be damaging Since its historic agreement in November 2016, Opec’s efforts to manage the oil market have shown signs of […]

April 26, 2018

It’s necessary to scrutinize the talk that some OPEC members, and particularly Saudi Arabia, want to see oil prices at $80 or $100 a barrel, reversing a longstanding tradition of emphasizing market share over short-term revenues. Without question, the Saudi […]

April 19, 2018

A sudden upswing in crude futures could be enough to fast-track the energy market’s next crisis, one economist told CNBC on Thursday. Oil prices soared to levels not seen since late 2014 on Thursday, following reports OPEC kingpin Saudi Arabia […]

March 6, 2018

The world’s growing appetite for oil will leave plenty of room for both Saudi Arabia and the United States to ratchet up production, Saudi Aramco CEO Amin Nasser said in a CNBC interview. The two countries are seen jockeying for […]

June 9, 2017

An oil market that loses 4% on a day when Islamic State (IS) attacks Iran’s parliament, Tehran blames Riyadh, and Donald Trump tweets his support as Saudi Arabia tries to humiliate another Gulf state is entering unusual territory. Bears still […]

January 20, 2017

With the OPEC production deal holding, at least for the moment, questions have now arisen over how prospects look for the cartel’s biggest producer. It’s been a strange few years for the Kingdom of Saudi Arabia, as its endured budget […]

October 11, 2016

“We have a case of oil addiction in the Kingdom of Saudi Arabia which is dangerous.” So says Muhammad ibn Salman Al-Saud, deputy crown prince and minister of defense in his highly publicized April 25, 2015 interview with Al-Arabiyya. He […]

July 1, 2016

Saudi Arabia will supply more Arab Extra Light crude to at least two buyers in Asia in July, four sources familiar with the matter said on Thursday, as the top oil exporter ramps up shipments in a bid to claim […]

February 4, 2016

Saudi Arabia, Russia and other countries that heavily rely on oil revenues are getting more desperate as crude prices languish, said Daniel Yergin, a leading expert international politics, energy and economics. “This day of reckoning is here,” he warned on […]