Macron: Saudi Arabia and UAE are nearing the limits of their production capacity. Saudi Arabia’s production quota was raised 114,000 bpd in June and will be raised another 170,000 bpd in July. News about shrinking […]
Saudi Arabia and the UAE have starring roles to play in the oil market this summer, as the only producers in the world holding any significant spare output capacity. But much of it is from […]
G7 agrees to explore cap on Russian oil price Macron tells Biden that UAE, Saudi can barely raise oil output Political unrest in Ecuador, Libya could further tighten supply Delayed U.S. weekly oil data to […]
Saudi Arabia and Italy underscored on Monday their strategic relations and determination to further expand their economic partnership. Addressing the Saudi-Italian Investment Forum being in Riyadh, Saudi Finance Minister Mohammad al-Jadaan discussed the national economy […]
(Bloomberg) — French President Emmanuel Macron said that the United Arab Emirates’ ruler confided to him that OPEC’s two leading oil exporters are already pumping almost as much oil as they can. The UAE is […]
(Bloomberg) — The OPEC+ alliance of oil producers is running out of capacity to pump more crude, including its biggest member Saudi Arabia, according to Nigeria’s petroleum minister. “Some people believe the prices to be […]
Beijing’s caution in challenging U.S. supremacy around the globe might be dissipating. Practical ramifications for the global oil sector from China’s geopolitical shift would be enormous. President Xi has signed a new directive that gives […]
The decision by OPEC+ to boost its production quotas did not have the desired effect on oil markets, with prices having increased since then. One of the main reasons for this upward pressure is that […]
Ever since the oil price crash of 2020, OPEC has been coordinating to adjust how much oil they produce in order to balance out supply with changes in demand. Most recently OPEC decided to increase […]
(Bloomberg) — OPEC+ agreed to increase the size of its oil-supply hikes by about 50%, in a deal that kept Russia at the heart of the cartel while also heeding pressure from major consumers including […]
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