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  • Large Jump in May Oil Shipments to China Moves Russia Past Saudi Arabia
     

    Russia has leaped ahead of Saudi Arabia as the top oil supplier to China, according to Bloomberg, as the race to supply the world’s second-largest oil consumer heats up.  Bloomberg: “China imported a record 3.92 million metric tons from its northern neighbor in May, according to data emailed by the Beijing-based General Administration of Customs on Tuesday. […]

     
  • Saudi Arabia Reduces Crude Exports, Refining More at Home
     

    Saudi Arabia reduced crude oil exports in April but used record supplies domestically for a burgeoning refining industry, Bloomberg’s Wael Mahdi reports.  Shipments in April fell by an average of 160,000 barrels a day, down to 7.6m BPD from 9m BPD in March. The March shipments were the highest in almost a decade, according to […]

     
  • A Saudi-Russia Thaw?
     

    Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman visited Russia today amid growing evidence of a thaw in Saudi-Russian relations. With the headline of “Saudi Arabia and Russia to cement ties,” the English language daily Arab News reports that Deputy Crown Prince Mohammed bin Salman “will seek to cement economic, cultural, political and trade relations […]

     
  • Is it Crunch Time for Saudi Arabia’s Yemen Operation?
     

    In an in-depth analysis in Reuters, Angus McDowall writes that following Saudi Arabia and the GCC’s lack of success in significantly tipping the scales in Yemen with airstrikes, the limited options for Saudi Arabia’s leadership in the war-torn country come with high risks. With the possibility of a ground operation apparently ruled out, “Riyadh may soon […]

     
  • Remittances from Gulf States Double in 5 Years to $100b
     

    Foreigners working in Arab Gulf states sent more than $100 billion in remittances to their home countries last year, according to the AFP/Saudi Gazette, a figure twice as high as 2010. The remittances are estimated at 6.2 percent of the combined GDP of the six GCC states of $1.6 trillion, the AFP reports, citing IMF […]

     
  • Cash Reward Offered for Wanted Men Connected to Mosque Bombings
     

    Saudi Arabia’s government offered a $1.3m cash reward for men connected to bombings at mosques in the past two weeks, saying that “[a]nyone dealing with the wanted men will be held accountable,” according to Reuters and information posted by the Ministry of Interior and the Saudi Press Agency. The self-described Islamic State, or Daesh, claimed […]

     
  • Video: Daesh Claims Second Mosque Attack in Saudi Arabia that Kills 4
     

    A suicide bomber affiliated with the self-styled Islamic State, or Daesh, attacked a mosque in Saudi Arabia for the second time in a week on Friday, killing 4. The attack comes a week after another terrorist attack in Saudi Arabia’s Eastern Province that killed 21 worshippers and injured over 100 others. عاجل فيديو: لحظة تفجير مسجد […]

     
  • Saudis Keep Up Production at High Levels to Drive Out U.S. Shale ‘with OPEC Backing’, Bloomberg Says
     

    Bloomberg’s Grant Smith and Maher Chmaytelli write that Saudi Arabia will continue to push for high output levels in order to beat back U.S. shale at an OPEC semiannual meeting on June 5th, and will have OPEC backing to do it, extending a strategy that Saudi Arabia and OPEC see as working. The decision by […]

     
  • President Obama Hosts GCC Leaders to Camp David, Offers ‘Ironclad’ Security Commitment
     

    President Barack Obama hosted a summit of GCC member states in Camp David this week to shore up U.S. security support for external threats to Gulf Nations and discuss the Administration’s nuclear deal with Iran. Saudi Arabia’s Foreign Minister Adel Al-Jubeir called the U.S.-Gulf Cooperation Council (GCC) summit at Camp David “unprecedented” and said the day had brought U.S.-Gulf […]

     
  • Oil’s Price Reaches 2015 High Ahead of Speculation on Saudi Output Cuts
     

    Oil reached a 2015 high on Monday as Brent hit $67.10 a barrel, a sign of an oil price rebound fueled by regional chaos, global demand increases, and speculation of looming cuts in Saudi output.  “No one can set the price of oil – it’s up to Allah,” Saudi Arabia’s Minister of Petroleum and Natural Resources Ali Al […]

     

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