Oil prices are set to rise to $86 per barrel at year-end, from $80 now, as record-high oil demand and lowered supply will lead to a large market deficit. “We expect pretty sizable deficits in […]
In a statement sent to Rigzone recently, Rystad Energy revealed that, according to its research, total global recoverable oil reserves now stand at 1.624 trillion barrels. Rystad highlighted in the statement that, since the company’s […]
Net long positions in WTI and Brent jumped by most in three months in the period from July 3 to July 11. Even if the recent Saudi moves didn’t result in major price rallies in […]
Saudi Arabia is dominating the market for new gas-fired power plants in the Middle East, with Mitsubishi Power providing the kingdom with advanced technology, according to Javier Cavada, president and CEO of Europe, the Middle […]
The International Monetary Fund (IMF) has approved a much-awaited $3bn bailout for Pakistan, a move that is likely to help prevent the South Asian country from defaulting on its debt repayments. In a statement on […]
Aramco’s CEO Amin Nasser believes that the oil market fundamentals remain generally “sound” for the rest of the year. “Although China is facing some economic headwinds, the transport and petrochemical sectors are still showing signs […]
The U.S. is predicted to break a new record in oil production this year, with current production at 12.4 million barrels per day, primarily due to increased output in tight oil and shale gas regions. […]
China and the Gulf Cooperation Council, an economic group of Middle East states that are one of the world’s fastest-growing regions, wrapped up a high-profile, two-day Arab-China Business Conference in Riyadh last Monday that made […]
Saudi Arabia’s decision to cut production on its own may not have been in its best interests. Russia’s strategy has been to persuade Saudi Arabia to increase the group’s oil prices as much as possible […]
Saudi Arabia’s Ministry of Investment has signed a $5.6 billion deal with Chinese electric vehicle (EV) maker Human Horizons to collaborate on the development, manufacture and sale of vehicles, the Saudi state news agency said […]
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