The Organization for Petroleum Exporting Countries (OPEC) is unshakable in its decision not to cut oil production to prop up prices. The cartel still insists
Tag: Saudi Arabia
Chinese Companies Decided Not to Increase Imports from Iraq
China’s energy companies have decided to keep the amount of oil that they buy from Iraq unchanged for the first time in almost ten years.
Oil-Exporting Countries to Tap into Sovereign Funds to Balance Budgets
Energy-exporting countries, which have put away billions of dollars in sovereign investment funds, may now be forced to draw on their “savings” as oil revenue
American Oil Exports to Asia Halt amidst Mideast Competition
United States’ exports to Asia begin to stall as Mideast Gulf oil producers hurry to protect their market share amidst the lowest prices in five
OPEC Starts Talking Oversupply
On Friday (21 November) OPEC’s Economic Commission Board concluded a two-day meeting in Vienna before the group of oil ministers meets on Thursday (27 November)
Saudi Arabia Supplies Less Crude to World Markets
Saudi Arabia, the world’s biggest oil producer, supplied less oil in September than in August despite higher output. The global oil markets are impatiently waiting
Tumbling Oil Prices : A Blessing in Cursed Times?
An average consumer is not, frankly speaking, used to the fact that oil prices can also fall. In fact, economic history reveals that the harshest
Kuwait to Challenge Saudi Arabia in a Battle for Asia’s Oil Market
Kuwait seeks to challenge its traditional Gulf ally and bigger neighbour, Saudi Arabia, in a contest over market share in Asian oil markets. The battle
First Crude Oil from Western Canada to Reach Europe
Suncor Energy Inc, Canada’s largest oil and gas producer, has sent its first ever tanker of heavy crude oil from Canada’s East Coast to Europe.
OPEC Expected to Lower Production Target
The secretary general of the Organization of Petroleum-Exporting Countries (OPEC), Abdullah al-Badri, said that his organization was planning to lower its production objectives during its