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Peak DemandThe world’s biggest oil exporter has quietly seized a market milestone from the U.S.
The result is that Saudi Arabia’s winter-to-summer “swing” in oil consumption has eclipsed that of the United States, where gasoline consumption jumps by as much as 10 per cent every summer as millions of families take advantage of school holidays and warm weather to embark on the classic American road trip.
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U.S. - Saudi: Tight OilPerspective: The fracking of US-Saudi relations
The kingdom’s state-run oil company Saudi Aramco recently announced plans to invest $7bn on top of $3bn earmarked last year to start its own fracking revolution. Speaking at a conference in Riyadh in January, Aramco chief executive Khalid Al Falih declared Saudi Arabia was the “next frontier” in shale gas exploration — the kingdom is estimated to have the fifth largest shale gas reserves in the world, and shale production is considered crucial in helping the country maintain its powerful position within the global oil market.
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War in Yemen: Border ConflictSaudi citizen killed in rocket attack launched from Yemen – SPA
The Saudi-Yemen border has in some places become a front line between the kingdom and Iran-allied Houthi rebel group that a Saudi-led Arab alliance has been bombing for eight weeks.
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Saudi Oil Exports: ChinaSaudi Oil Supply Outpaces Rivals in Grab for Record China Demand
China’s imports from the Middle East producer jumped 37 percent from a year earlier to the highest level since July 2013, according to customs data. The world’s biggest crude exporter was the No. 1 supplier to the Asian nation, accounting for 17.4 percent of its overseas purchases, up from 15.1 percent in March. The next three largest sellers -- Russia, Iran and Angola -- lost market share.
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U.S. Middle East PolicyPerspective: What President Obama Thinks on Iraq, Iran and Israel
Obama responded by downplaying these media reports, and then said, “There has been has been no indication from the Saudis or any other [Gulf Cooperation Council] countries that they have an intention to pursue their own nuclear program. Part of the reason why they would not pursue their own nuclear program—assuming that we have been successful in preventing Iran from continuing down the path of obtaining a nuclear weapon—is that the protection that we provide as their partner is a far greater deterrent than they could ever hope to achieve by developing their own nuclear stockpile or trying to achieve breakout capacity when it comes to nuclear weapons.”
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U.S. - TunisiaEditorial: Helping Tunisia realize its democratic promise
Our meeting at the White House Thursday — the first between a U.S. president and a democratically elected Tunisian president — will be an opportunity to mark Tunisia’s progress and deepen the partnership between our nations to help Tunisia’s new democracy deliver the greater prosperity and security that its citizens deserve.
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GazaGaza economy ‘on verge of collapse’, with world’s highest unemployment
The economy of Gaza – assailed by war, poor governance and a joint Israeli-Egyptian blockade – has reached the “verge of collapse” with the coastal strip suffering the highest rate of unemployment in the world.
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Extremist AttackSaudi Arabia: multiple casualties after suicide bomber attacks Shia mosque
A suicide bomber blew himself up at a Shia mosque in eastern Saudi Arabia during Friday prayers, killing and wounding several people, residents said.
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Anti-ISIS Campaign: IraqIraq enlisted 100,000 militiamen to fight ISIL and now it can barely control them
AAH is one of some 35 Shi’ite militias that coalesced to fight ISIL as it swept across large stretches of northern and western Iraq last summer. The Iraqi government narrative suggested they would disperse when the Sunni jihadists were finally defeated. But the militias’ role in the fighting has emboldened them. And few are now betting against the militias’ longevity—especially after the key city of Ramadi fell back into ISIL hands a few days ago.
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Saudi - TurkeyA New Turkish-Saudi Thaw is Helping Rebels in Syria and Worrying Washington
A mutual frustration among regional leaders with perceived American indecision and inattention to Syria has drawn Turkey and Saudi Arabia closer. It’s a development that is exactly what the Obama administration wanted to see – regional actors banding together to fight their own wars – but one that could backfire if it causes further animosity toward the U.S. for refusing to do more to help stop the conflict.
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