Global Markets: Saudis Hold Firm on Cuts After Trump Tweet

Global Markets: Saudis Hold Firm on Cuts After Trump Tweet

Saudi Arabia is leaning toward extending OPEC cuts into the second half of 2019, potentially pitting the group against U.S. President Donald Trump’s demand to keep prices down. Advertisements

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Africa Oil & Gas: Saudi Arabia mulls oil refinery construction in South Africa

Africa Oil & Gas: Saudi Arabia mulls oil refinery construction in South Africa

Saudi Arabia plans to build an oil refinery and a petrochemicals plant in South Africa as part of $10 billion of investments in the country, Saudi Energy Minister Khalid Al-Falih said on Friday.

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Global Markets: OPEC+ Recommends Oil Cuts, Defying Trump’s Twitter Plea

Global Markets: OPEC+ Recommends Oil Cuts, Defying Trump’s Twitter Plea

(Bloomberg) — Saudi Arabia, Russia and other members of the OPEC+ group recommended an oil production cut, defying a Twitter plea from President Donald Trump to keep the taps open, but their meeting didn’t agree on how big any reduction should be.

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Global Oil & Gas: Saudi Arabia OPEC Manipulation Behind Qatar’s Sudden Exit

Global Oil & Gas: Saudi Arabia OPEC Manipulation Behind Qatar’s Sudden Exit

Qatar announced its withdrawal from OPEC on Monday, after nearly six decades inside the group. The Qatari government said it was for “technical” reasons; mainly to focus on natural gas production. But a member of the ruling family also criticized OPEC, which seemed to undercut the official reason for the country’s exit. “The withdrawal of Qatar from OPEC is a wise decision, as this organization has become useless and does not bring us anything,” said former prime…

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Global Markets: Saudis Boosted Oil Exports, Pumped At Record Level In Early November

Global Markets: Saudis Boosted Oil Exports, Pumped At Record Level In Early November

Saudi Arabia’s crude oil exports hit their highest in 20 months in September, while the Kingdom’s production in early November appears to have hit the highest on record, on the back of high customer requests made in early October when the market feared a hefty loss of Iranian supply this month.

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Global Oil & Gas: OPEC Very Likely To Agree To Oil Production Cuts

Global Oil & Gas: OPEC Very Likely To Agree To Oil Production Cuts

OPEC will very likely agree to cut oil production at its upcoming meeting in early December, although the size of the cuts is yet to be decided, Ahmed al-Kaabi, Governor for OPEC of the United Arab Emirates (UAE), told the local Al Bayan newspaper on Tuesday.

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Global Market: Saudis See Need for Producers to Cut 1MM Barrels

Global Market: Saudis See Need for Producers to Cut 1MM Barrels

Bloomberg) — Saudi Arabia expressed the need for oil producers to cut 1 million barrels a day from October levels and announced fewer shipments from next month, as OPEC and its allies began laying the groundwork to reduce oil supply in 2019, reversing an almost year-long expansion.

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