Saudi King and Crown Prince Condole Kuwait
In a heartfelt gesture of solidarity, Saudi Arabia’s King Salman and Crown Prince Mohammed bin Salman expressed their deepest condolences to the Emir of Kuwait on Monday following the passing of Sheikh More »
Putin and Abbas Discuss Gaza Crisis
Russian President Vladimir Putin is set to meet with Palestinian President Mahmoud Abbas on Tuesday during Abbas’ visit to Russia. Arriving on Monday, Abbas aims to discuss the ongoing Gaza conflict with More »
Saudi Arabia Voices Strong Support for Gaza Peace Initiatives
Saudi Arabia has firmly aligned itself with the recent joint statement made by President Joe Biden of the United States, President Abdel Fattah El-Sisi of Egypt, and Sheikh Tamim bin Hamad Al-Thani, More »
Saudi Crown Prince, US Secretary of Defense discuss troop deployment
:: Saudi Arabia’s Crown Prince Mohammed bin Salman received a phone call on Wednesday from the US Secretary of Defense during which they discussed ongoing arrangements to send US troops of a More »
Saudi Energy Minister confirms restoration of Kingdom’s gas production capacity
:: Saudi Arabia’s Minister of Energy confirmed on Wednesday the restoration of production capacity, affirming the Kingdom’s position as a reliable energy supplier in the global market. The energy minister, Prince Abdulaziz More »
Tag Archives: OIL PRICES
UAE non-oil growth to accelerate in 2018
:: The non-oil sector of the United Arab Emirates economy is expected to grow 3.1 percent this year, accelerating to 3.5 percent next year, central bank governor Mubarak Rashid al-Mansouri said on Sunday. Speaking to a meeting of Arab central
Why OPEC needs to think outside the box
By : Wael Mahdi :: The outlook for the oil market over the coming few years is scary — not because there will be no demand for oil, but because it is becoming extremely hard to predict developments. Andy Hall,
Oil falls as banks cut price forecasts
:: Oil prices fell on Tuesday as global oversupply encouraged several banks to cut their forecasts for crude for this year and 2018. Brent crude was down 50 cents at $46.38 a barrel in mid-morning trade on Tuesday. US crude
Saudi’s SABIC ‘very positive’ on 2017 despite oil market uncertainty
:: Saudi Basic Industries Corporation (SABIC) is “very positive” about 2017 despite global challenges, its chief executive said on Tuesday. Yousef Abdullah al-Benyan told reporters in Riyadh the firm was monitoring the global situation, but it was difficult to predict
Oil prices likely to climb by end of 2016: Aramco
Saudi Arabia’s oil giant expects oil prices to climb toward the end of the year, saying the current price of around $30 a barrel is not sustainable. Saudi Aramco’s CEO Amin Nasser, speaking Tuesday at the 9th Global Competitiveness Forum,
As King Salman enters second year, Riyadh looks to China
By : Abdullah Hamidaddin The Chinese president’s visit to Saudi Arabia and the region can be seen as a response to rising tensions between Riyadh and Tehran. Beijing has important relations with both countries, and cannot afford to lose either.
Is lifting of Iran sanctions a double-edged sword for Russia?
By : Maria Dubovikova A sanctions-free Iran marks a new beginning for the country as well as the international community. Europe and the United States lifted sanctions against the country on Saturday following the International Atomic Energy Agency (IAEA) announcement
Oil prices drop as US crude inventories rise
Oil prices fell on Wednesday after a rise in weekly US crude inventories fed into bearish sentiment about the deepening global supply glut that has brought oil prices close to 12-year lows. Brent crude, the global benchmark, was down 37
Oil prices jump over 2% on colder weather
Oil prices jumped about $1 a barrel on Tuesday, as prospects of colder weather in coming weeks inspired buying a day after prices slid 3 percent, but slowing global demand and abundant supplies from OPEC members kept energy markets bearish.
Oil prices tumble to 7-year low
Crude oil futures tumbled to their lowest in nearly seven years on Monday after OPEC failed to address a growing supply glut, while a stronger dollar made it more expensive to hold crude positions. Brent and US crude futures fell
Oil prices turn higher as diplomats seek to ease Middle East tensions
Oil prices have turned higher in Asia on Wednesday as diplomats tried to ease geopolitical tensions sparked by Turkey’s shooting down of a Russian fighter jet on the Syrian border. But the global crude supply glut capped gains ahead of
Kuwait Emir urges reforms as income drops 60 percent
Kuwait’s ruler called on Tuesday for officials in the oil-rich state to seek alternative revenue sources and reduce public expenditure after state income dropped 60 percent due to a sharp slide in crude prices. Addressing parliament at the beginning of
UAE oil minister expects oil price to rise in 2016
The United Arab Emirates’ oil minister said on Monday that he expected an upward correction of oil prices next year. “We are expecting an upward correction – 2016 will be a year of correction, to what level we will see,”
Iranian president blames oil price fall on political conspiracy
Iranian President Hassan Rowhani has blamed unnamed countries of plotting to bring down crude prices and said the recent slump in oil prices was not based solely on economic factors. With oil prices down more than 40 percent since June,
Saudi Arabia to ‘uphold balanced’ oil policy
Saudi Crown Prince Salman bin Abdulaziz said Saturday that the kingdom would maintain its “balanced” oil policy and urged world leaders to work toward resolving the growing crises in the Middle East. “The kingdom is continuing with its balanced policy
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