OPEC Gets Jump on Planned Production Cuts, Slashes Output in December

Organization of the Petroleum Exporting Countries along with Russia and its allies will curb oil output by a collective 1.2 million barrels a day.
The nations forming the OPEC+ alliance slashed oil production in December, one month before the producer group officially began a fresh round of output cuts agreed to late last year in response to a global supply glut and fears of a worldwide recession, according to CNBC.

Saudi Arabia

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OPEC oil production sinks in December as Saudis slash output

The 14-nation OPEC got a jump on the agreement in December. Oil supplies from OPEC nations plunged by 751,000 barrels per day to nearly 31.6 ...



Saudi Arabia to hire HSBC banker to lead $11bn privatisation plans

Saudi Arabia hired HSBC Holdings Plc banker Rayyan Nagadi to set up a privatisation unit at the ministry of finance as the kingdom forges ahead ...


Italian Super Cup

Cristiano Ronaldo secures Italian Super Cup glory for Juventus

Cristiano Ronaldo's second-half goal secured a record eighth Italian Super Cup victory for Juventus as they beat AC Milan 1-0 in the Saudi Arabian city ...


Italian Super Cup

Women throng Saudi stadium for Italian Super Cup amid controversy

But with reports there were up to 15,000 women among the 62,000 crowd, accompanied by men or male children, Italian football league president Gaetano Micciche ...


Wind Energy

Saudi Arabia’s first wind farm, most powerful in the Middle East

The future wind farm will benefit from a 20-year power purchase agreement with the Saudi Power Procurement Company, a subsidiary of SEC (Saudi Electricity Company), ...


Saudi Workforce

Saudi Government to Pay Private Sector in an Attempt to Expand Saudization

The government will contribute to the wages of Saudis employed in the private sector, one of several incentives to motivate the hiring of nationals and ...


Solar Power

Saudi Arabia reignites plans for integrated solar manufacturing

According to reports, Saudi Arabia’s National Industrial Clusters Development Program (NICDP) and petrochemicals to manufacturing conglomerate SABIC have signed MOU’s with LONGi Group and OCI ...


Riyad-NCB Merger

Saudi’s NCB set to pick JPMorgan to advise on bank merger talks

Saudi Arabia’s biggest lender, National Commercial Bank, is set to pick JPMorgan to advise on its merger talks with smaller rival Riyad Bank, several sources ...



Saudi Arabia to Begin Building Homes in Futuristic City Neom

Saudi Arabia said it will start building the first residential area in a proposed $500 billion futuristic city that’s become a symbol of Crown Prince ...



Work begins on first of five Saudi corvettes for the Saudi Arabian Navy

Spanish state-owned shipbuilder Navantia held a steel-cutting ceremony for the first of five corvettes for the Saudi Arabian Navy at its San Fernando shipyard in ...



Saudi Arabia’s KFUPM ranks 5th in world for patents

King Fahd University of Petroleum and Minerals (KFUPM) ranked fifth among universities worldwide in 2018 in terms of the number of patents registered, according to ...



Saudi SWCC seeks proposals for advisory role on sale of assets: sources

Saline Water Conversion Corp (SWCC), which operates desalinization plants and power stations in Saudi Arabia, has asked banks for proposals for an advisory role on ...



Saudi Arabia Prepares to Launch One of the Largest Falconry Festivals

Saudi Falcons Club is preparing to organize one of the biggest falconry events, the first edition of King AbdulAziz Falconry Festival, from January 25th to ...


Saudi +

Regional and related topics


U.S. troops among casualties in ISIS-claimed attack in Manbij

The attack occurred in the northern city of Manbij, where American forces have conducted patrols after militants were flushed from the area. In coming months, ...


Anti-ISIS Campaign

Army Chief Confirms US Will Hand off ISIS Fight in Syria

Milley did not say when U.S. troops would leave Syria, but his characterization suggests a change of one mission goal for the Americans, who until Trump’s tweet last ...



Perspective: Trump’s Syria morass

The suicide attack that killed four Americans, including two US soldiers, on Wednesday in Manbij, Syria, is a vivid reminder of the confused and confusing ...


Global Oil Markets

Analysis: US Will Likely Grant Fewer Waivers in May  

“The waivers granted by the U.S. Trump administration to buyers of Iranian oil, they are going to be up for renewal and likely, in May, ...


War in Yemen

Yemen government, rebels meet to hammer out major prisoner swap

The office of U.N. envoy Martin Griffiths has described the two-day meeting between the Houthi rebels and the internationally recognized government as a "technical one." ...


AFC Asian Cup

Saudi Vs. Qatar Moves to the Soccer Field

Saudi Arabia will play Qatar in the Asian Football Confederation Cup on Thursday, adding a sporting dimension to another conflict. It follows the clash between former warring ...


GCC Economy

GCC’s creditworthiness outlook for 2019 stable

The outlook for sovereign creditworthiness in the Gulf Cooperation Council (GCC) in 2019 is stable overall, reflecting Moody’s Investors Service expectations for the fundamental credit ...



The world’s first hyperloop system could cost $40m per kilometre

“Basically, the Abu Dhabi hyperloop system is right now past the feasibility study. We have already completed the study after we partnered with Aldar Properties ...



Qatar’s BeIN Sports steps up piracy fight against Saudi Arabian rival

Qatari-based sports broadcaster beIN Media Group published what it called a “dossier of evidence,” which it says “publicly exposes the industrial scale theft of world ...



Why there’s no bringing coal back

Coal production and use in the United States has fluctuated over the past 100 years, with declines following peaks in 1920 and 1945 subsequently being ...


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