Saudi Energy and Industry Minister Khalid Al-Falih: Oil Market Wrapping Up ‘Considerable Downturn’

Saudi energy minister Khalid al-Falih said on Wednesday that oil markets were at the end of a “considerable downturn" and that fundamentals were improving.
  • War in Yemen

    Troops along Saudi Arabia's border with Yemen in Jazan, Saudi Arabia.

    Yemen Ceasefire Tested by Missiles, Airstrikes

    The 72-hour U.N.-backed truce in Yemen came under duress on Thursday when missiles fired from inside the war-torn country killed two civilians in Saudi Arabia, while a Saudi-led coalition launched air strikes that Iran-allied Houthi fighters said killed three people, according to reports.
  • Saudi Economy


    Government Payments to Top Companies Resume, Al-Assaf Says on Saudi TV

    Saudi Arabia has resumed payments of its debts to contractors after long delays that imperiled company finances and hurt investor sentiment, according to Bloomberg, which cited comments made by Saudi Finance Minister Ibrahim Al-Assaf on Saudi television.
  • War in Yemen

    Deputy Crown Prince Mohammed bin Salman meets with UN special envoy Ismail Ould Cheikh Ahmed.

    72-Hour Ceasefire in Yemen Set for Wednesday Night

    The United Nations Special Envoy to Yemen announced a 72-hour cease-fire to begin Wednesday night, after he received commitments from all of the country’s warring factions, but Saudi Foreign Minister Ade Al-Jubeir reportedly expressed skepticism given past attempts at halting violence there.
  • OPEC


    Are oil markets better off with OPEC cuts?

    Jadwa Investment's latest Quarterly Oil Market Update anticipates that OPEC’s decision to announce, but not to implement, a cut in production will likely lead to a small cut in oil production "more akin to a production ’freeze’ rather than an outright cut".

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