Saudi sovereign wealth fund finalises terms on $10 billion loan
Saudi Arabia’s sovereign wealth fund finalised the terms of a $10 billion loan it’s seeking to raise from a group of banks, according to people familiar with the matter.
Saudi Arabia
Updated: Oil rises after drone attack on Saudi Arabia disrupts Gulf calm
Oil rose for a second day after a drone attack on a Saudi Arabian oil field brought geopolitical risks back into focus, and as the prospect of more U.S.-China trade meetings spurred some investor optimism.
Saudi Arabia’s oil price promise just doesn’t add up
Saudi Arabia isn’t as willing to do whatever it takes to support oil prices as it would have us believe. That’s the only conclusion one can draw from what we’ve learnt since a government official said the kingdom wouldn’t tolerate a continued price slide.
Aramco remains world’s most profitable company even as oil falls
Saudi Aramco showed Monday it’s still the world’s most profitable company -- and paid out almost all its net income in dividends -- despite the dwindling price of oil.
Saudi prince’s rise to power turns him into a billionaire boss
It was an unprecedented move against once-inviolable power figures in the kingdom, framed as a crackdown on corruption.
Oil set for weekly loss as US-China trade war looms
Oil is poised for a second weekly loss as investors weigh the deteriorating U.S.-China trade dispute against the latest steps from Saudi Arabia to stabilize the market.
Oil giant Saudi Arabia to start first wind-power plant
Saudi Arabia, the world’s biggest oil exporter, is poised to start generating wind power within three years as part of an effort to harness renewable energy to cut local demand for fossil fuels.
Bankers question whether Saudi Aramco IPO will be worth the effort
When Saudi Arabia announced plans to sell shares in its crown jewel Aramco, international bankers scrambled to get a piece of the action. Three years on, they’re questioning whether what could be the world’s biggest IPO is worth their time and effort.
OPEC set to extend oil output cuts into 2020 as demand falters
The OPEC+ alliance is poised to extend production cuts into 2020 as the world’s leading oil exporters fret about a weakening outlook for global demand growth and the relentless rise in output from America’s shale fields.
OPEC+ proposes mid-July meeting to settle dispute over dates
OPEC proposed mid-July meetings with its allies in Vienna to discuss extending production cuts, after talks between Russia and Iran made some progress toward resolving a standoff over the date.
Saudi Arabia hopes to extend Opec production cuts by early July
Saudi Arabia hopes OPEC and its allies will agree to extend oil production cuts into the second half of the year at a meeting that will probably take place in the first week of July, according to the country’s energy minister.
Updated: Crews evacuated as oil tankers targeted near Strait of Hormuz
Two oil tankers near the strategic Strait of Hormuz have reportedly been attacked, leaving one ablaze and adrift as sailors were evacuated from both vessels and the US navy rushed to assist amid heightened tensions between Washington and Tehran.
Oil optimism slumps to 12-week low as price dips to bear market
Hedge funds kept running away from oil as prices tumbled into a bear market.
Ineos to splash £1.6bn on Saudi plants
Chemicals and plastics giant Ineos is set to spend two billion US dollars (£1.6 billion) on building three manufacturing plants in the Middle East for the first time.
Oil jumps as OPEC signals continued cuts and U.S. threatens Iran
Oil started the week strongly after Saudi Arabia and other OPEC+ members signaled intentions to keep supplies constrained for the rest of the year, while U.S. tensions with Iran ratcheted up as President Donald Trump threatened the country in a tweet.
Oil price could shoot ‘violently upwards’ after Middle East tanker attacks, Rystad says
The global oil price could shoot “violently upwards” following supply disruptions in the Middle East, including attacks on a pair of oil tankers.
Saudi Arabia says two oil tankers sabotaged
Saudi Arabia has said two of its oil tankers were sabotaged off the coast of the United Arab Emirates in attacks that caused "significant damage" to the vessels, one of them as it was en route to pick up Saudi oil to take to the US.
Saudis urge OPEC+ to stick with oil cuts as job not yet done
OPEC and its allies have much work ahead to balance global oil markets and are prepared to do what’s necessary in the second half, Saudi Energy Minister Khalid Al-Falih said.
Saudi Arabia outlines investment plans worth $20 billion in Pakistan
Saudi Arabia’s Crown Prince Mohammed bin Salman said his country signed so-called memorandums of understanding worth $20 billion of investment in Pakistan.
Saudi Arabia expects to pump ‘well below’ usual oil output
Saudi Arabia expects to reduce oil output once again in February and pump for six months at levels “well below” the production limit it accepted under OPEC’s oil-cuts accord, Energy Minister Khalid Al-Falih said.
Saudi Arabia: We’ll pump the world’s very last barrel of oil
Saudi Arabia isn't buying the peak oil demand narrative.
Oil demand to strengthen despite economic slowdown, IEA says
Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the International Energy Agency.
Russia to speed up output cuts as Saudis lament pace
Russia is aiming to accelerate the pace of oil production cuts after its reductions drew criticism from Saudi Arabia.
A year in review – Oil benchmarks trail at the end of 2018
Brent crude oil averaged $72 per barrel (b) in 2018, and West Texas Intermediate (WTI) averaged $65/b in 2018.
Oil rallies as Saudi exports cut, US equities make up ground
Oil prices rallied on the first trading day of 2019 as U.S. equities recovered from early losses and amid signs that Middle Eastern producers were fulfilling a pledge to cut exports.