The head of Saudi Arabia’s state oil company praised China’s exports of green technology, echoing Beijing’s talking points in what appeared to be a deliberate rebuke of Western policymakers. “China ...... continue reading
Saudi Arabia's oil production is expected to reach 11 million barrels per day (bpd) by 2029, according to Amine Mati, the International Monetary Fund’s (IMF) Mission Chief for Saudi Arabia. In an interview with Asharq TV,...... continue reading
Riyadh will require an average oil price of $96.20 a barrel to balance its budget, assuming it holds crude output steady near 9.3 million barrels a day this year, the...... continue reading
Saudi Arabia’s crude oil production reached in February 2024 a seven-month high of 9.01 million barrels per day (bpd), according to data from the Joint Organizations Data Initiative (JODI)....... continue reading
Although Iraq is the second-largest oil producer in OPEC after Saudi Arabia, it is a net natural gas importer because lack of infrastructure investment has meant that until 2023 it...... continue reading
Bloomberg reports that outgoing Russian oil shipments hit nearly 4 million barrels a day this week. That...... continue reading
Oil’s surge over the past month has already built in the geopolitical risk premium from the Middle East. A move higher will most likely depend on whether...... continue reading
Energy-related trade between China and the Middle East is likely to increase significantly and reshape the sector...... continue reading
The motivation there for the OPEC+ ministers would be to avoid the inevitable demand destruction that $100/barrel oil prices have caused in the past. It is a motivation that makes...... continue reading
Oil prices rose in early trade on Friday on heightened tensions in the Middle East, where Iran has promised to retaliate for a suspected Israeli air strike on its embassy...... continue reading
