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Latest Articles in saudi arabia

OPEC Could Deepen Oil Supply Cuts With Or Without Russia

Saudi Arabia needs oil prices of about $80 a barrel to balance its state budget while Russia can cope with prices as low as $42.

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OPEC Leaning Towards Larger Oil Cuts As Virus Hits Prices, Demand

OPEC+ panel that recommended the 600,000 bpd cut, called the Joint Technical Committee, is scheduled to convene again on March 3.

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Saudi Arabia May Slash April Oil Prices To Asia By Most Since 2012

Saudi crude OSPs are usually released around the fifth of each month, and set the trend for Iranian, Kuwaiti and Iraqi prices, affecting more than 12 million barrels per day (bpd) of crude bound for Asia.

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OPEC+ Will Take Responsible Approach To Virus - Saudi Energy Minister

Oil climbed on Tuesday as investors sought bargains after crude benchmarks slumped almost 4% in the previous session, although concerns about the global spread of the virus capped gains.

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IMF Chief, Argentina Flag Path To New Debt Deal After G20 Meet In Riyadh

The IMF gave Argentina a $57 billion standby financing agreement in 2018, but that programme was agreed by the previous government and has been essentially on ice since the election.

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Saudi Arabia Wary Of Costly Slow Response As Virus Knocks Oil

Oil prices have fallen by more than $11 a barrel this year to $54, alarming producers, as the coronavirus, which has killed more than 1,000 in China, spreads.

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L&T Construction Bags Large Contracts In Philippines, Saudi Arabia

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over 21 billion dollars in revenue.

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OPEC+ Panel Recommends Deeper Oil Cut, Awaits Nod From Russia

The economic slowdown resulting from the virus outbreak is expected to reduce 2020 global demand growth by 300,000-500,000 bpd, or roughly 0.5%, BP Chief Financial Officer Brian Gilvary.

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Saudi Arabia May Cut March Prices For Most Crude Grades To Asia

Asia's biggest refiner Sinopec has said it will cut throughput at its plants by 600,000 barrels per day (bpd) in February, although it is unclear how long the production cuts will last.

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Oil, Gold Prices Climb Higher As Middle East Tensions Flare

Brent crude oil soared past 70 dollars a barrel, rising by more than 2 per cent on Monday, while West Texas Intermediate crude rose by 1.8 per cent to 64.21 dollars.

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Saudi Aramco Kick-Starts What Could Be World's Biggest IPO

Bankers have told the Saudi government that investors will likely value the company at around USD 1.5 trillion.

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Modi Says Saudi Arabia To Invest In India's Downstream Oil, Gas Projects

Modi, who is on a two-day visit to Riyadh to participate in an investor summit, will meet King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman later on Tuesday.

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Oil Prices Climb As Positive China Factory Data Eases Demand Concerns

Brent crude futures rose 9 cents to $62 a barrel by 0300 GMT while US West Texas Intermediate (WTI) crude futures rose 13 cents to $56.04 a barrel.

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Oil Slips As Focus Shifts From Saudi Supply To Global Demand Concerns

Brent crude futures fell 35 cents to $64.42 a barrel by 0408 GMT, while U.S. West Texas Intermediate (WTI) futures were at $58.36, down 28 cents.

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Saudi's Falih Calls On Buyers To Secure Oil Shipments In Hormuz

"We, of course, call on the international community and have discussions with my counterpart Minister Pradhan today that India also needs to do its part of securing free navigation of sea links transporting energy to the rest of the world," al-Falih told Reuters after meeting with India's Petroleum Minister Dharmendra Pradhan.

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