Oil markets aren’t on the verge of a new price supercycle as plentiful supplies mean any concerns of a shortfall are misguided, the International Energy Agency said. Crude rallied to a 14-month high last week after Saudi Arabia and […]
Kingdom seeks to reduce domestic oil consumption Developing new methods for manufacture of hydrocarbon-based materials Plan to have 50% of power generation from renewables by 2030 Saudi Arabia plans to reduce domestic consumption of liquid […]
The U.S. policy of stopping Iran from exporting oil suffered a setback after a United Arab Emirates sheikh laid claim to a cargo that Washington seized and alleged is from the Islamic Republic. A company […]
The Gulf Cooperation Council’s borrowing requirements could drop to $10 billion over the next three years from about $270 billion, if oil prices continue to stay elevated, according to Goldman Sachs Group Inc. If prices for […]
A big unilateral cut by Saudi Arabia enabled Opec-plus to post the highest compliance rate so far with the oil production cuts it began implementing last May. The Saudis lowered their production by 979,000 barrels […]
India’s obvious displeasure with restrictions on output imposed by OPEC and its allies, and its aim to diversify crude oil suppliers, may run into the harsh realities of the global market. The world’s third-biggest oil […]
Saudi Arabia said one of the most protected crude facilities in the world came under missile attack on Sunday, in a clear escalation of hostilities that sent oil prices surging. The drone and missile attacks […]
Saudi Arabia raised pricing for its crude for shipment to Asia and the U.S. next month after OPEC + extended oil supply constraints, pointing to a tightening physical market. The world’s biggest crude exporter is boosting April pricing […]
Energy News Beat Publishers Note: Great Job Saudi Arabia for taking the lead on the OPEC + decisions. Showing again that Saudi Arabia is in the Oil market for the long haul. Saudi stocks rose […]
Sun-scorched expanses and steady Red Sea breezes make the northwest tip of Saudi Arabia prime real estate for what the kingdom hopes will become a global hub for green hydrogen. As governments and industries seek […]
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