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: OPEC
Saudi crown prince meets Venezuelan president
Venezuela’s President Nicolas Maduro has arrived in Riyadh on Sunday where he met with Saudi Crown Prince Mohammed bin Nayef bin Abdul Aziz, the kingdom’s deputy prime minister and interior minister. The officials discussed ways of boosting bilateral relations between
Death toll from Ecuador earthquake surpasses 650
The death toll from Ecuador’s devastating 7.8 magnitude earthquake last week has risen to 654 people, the country’s emergency management authority said on Saturday. Last Saturday’s quake, the worst in nearly seven decades, injured around 16,600 people and left 58
Nigeria seeks talks with Gulf producers
The mood inside the Organization of the Petroleum Exporting Countries (OPEC) is shifting from mistrust to a growing consensus that a decision must be reached on how to end the global oil price rout, Nigeria’s oil minister told Reuters. Oil
KSA maintains high oil output
OPEC oil output has risen in November from the previous month, a Reuters survey found on Monday, led by a rebound in Iraqi exports after bad weather had temporarily halted supply growth from the group’s second-largest producer. The increase indicates
OPEC sees more demand for its crude in 2016
OPEC forecast on Monday that demand for its oil in 2016 would be much higher than previously thought as its strategy of letting prices fall hits US shale oil and other rival supplies, reducing a global surplus. In a monthly
Al-Naimi says OPEC’s market share will rise
Petroleum and Mineral Resources Minister Ali Al-Naimi believes economic producers will prevail over higher-cost suppliers and OPEC’s share of the market will rise, India’s Economic Times newspaper reported on its website. In comments suggesting Saudi Arabia, is sticking to its
OPEC oil production rises in September
OPEC oil output has risen in September from the month before, a Reuters survey found, as Iraq’s northern exports recovered from disruption that had halted supply growth from the group’s second-largest producer. Saudi Arabia and other Gulf members of the
Gunmen kill senior Iraqi oil official in Kirkuk
Gunmen shot dead a senior oil official working for Iraq’s state-run North Oil Company (NOC) on Sunday, police and company officials said. NOC’s chief of operations, Saad al-Karbalaie, was killed in the northern oil city of Kirkuk after gunmen forced
Loyalist of Algeria’s Bouteflika named chief of ruling coalition party
Algerian President Abdelaziz Bouteflika’s cabinet director and loyal backer Ahmed Ouyahia was elected as the new leader of one of the two ruling parties on Wednesday, confirming his status of potential presidential successor. Speculation over Bouteflika’s health since he suffered
Algeria arrests importers, bank officials in graft crackdown
Algerian authorities have arrested 17 people including importers and bank officials as the country tightens control on imports and corruption to help counter the effect of low world oil prices, a judicial source and official media said on Sunday. Security
OPEC ‘will no longer shore up price’
ABU DHABI: The UAE said that OPEC will no longer move to shore up crude prices, arguing that rising North American shale oil output needed to be curbed. World prices have been falling since June but the pace of the
Venezuela’s Maduro in Saudi Arabia for talks
Venezuelan President Nicolas Maduro has arrived in OPEC’s leading oil producer Saudi Arabia, state media reported on Sunday, after he visited Iran to discuss the impact of plummeting crude prices. Maduro landed on Saturday in Riyadh where Deputy Crown Prince
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,
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