Extensions come despite oil rally, fresh blow to Biden Riyadh extends 1 mln bpd cuts to end-2023 Moscow extends 300,000 bpd cuts to year-end Both to review cuts monthly, may deepen or boost DUBAI, Sept […]
Aug 31 (Reuters) – Analysts have raised their 2023 oil price forecasts for the first time in four months with OPEC+ output cuts expected to keep supply tight, offsetting risks to demand from a stalling […]
The Austrian government is looking to lower the threshold for a windfall tax it imposed on oil and gas companies last year. That’s according to a new Bloomberg report, which noted that until now the threshold […]
Vision 2030 is Saudi Arabia’s grand plan to transform its economy and reduce its reliance on oil. The plan is also aimed at improving its citizens’ lives and keeping its place on the world stage. […]
New composition of BRICS will control 80% of world oil production With the addition of Saudi Arabia, the United Arab Emirates and Iran to the BRICS, the Union will be able to control the lion’s […]
The five-nation BRICS group announced expansion of members on Thursday, having invited six countries to join the bloc. South African President Cyril Ramaphosa, who is hosting the group’s summit in Johannesburg, said that Argentina, Egypt, […]
China’s top diplomat has said that a Chinese-mediated detente between Iran and Saudi Arabia was driving a “wave of reconciliation” in the Middle East and pledged to firmly support Tehran on “issues concerning core interests”. […]
Western nations warned the shipping industry at the weekend of increased risks to vessels transiting the Strait of Hormuz in the Middle East. “As of now, the timeline remains at 72 hours” from Saturday, maritime […]
Wall Street giant BlackRock just added the CEO of Saudi Arabia ’s national oil company, Saudi Aramco, to its board of directors. The New York Times headline announcing the move read, “ BlackRock Forges New Ties With Big Oil ,” giving the impression […]
By Tsvetana Paraskova of OilPrice.com, China is set to import 40% more crude from Saudi Arabia under term contracts in September despite the unilateral production cut of 1 million barrels per day (bpd) of the […]
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