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Latest Articles in saudi arabia
G20 Summit To Unite Global Response To Coronavirus Pandemic: Saudi King Salman
The summit will be held today via video conference with an aim to advance a coordinated global response to the COVID-19 pandemic and its human and economic implications, the Kingdom had said yesterday in a statement.
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OPEC Supply Curbs, US Measures Could Support Oil Prices Near Term
U.S. crude oil prices rose more than $1 on Friday, extending steep gains from the previous session, after U.S. President Donald Trump said he would "get involved" in the price war at an "appropriate time".
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Brent Crude Sinks Below $30 A Barrel As Recession Fears Weigh
Brent crude futures fell $1.32 to settle at $28.73, the first time that benchmark has settled below $30 per barrel since 2016.
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Saudi Arabia, UAE Close Cinemas Amid Ongoing Coronavirus Outbreak
In Saudi Arabia, which registered 118 cases of coronavirus, authorities have shut down malls except for food stores and pharmacies and prohibited restaurants and cafes from serving meals.
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Surging Demand To Move Flood Of Crude Oil Sends Smaller Tanker Rates Soaring
VLCC rates from the Middle East to China rose to about $265,000 per day on Monday, up from about $30,000 a day last week, broker data showed.
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Saudi Arabia Floods Markets With $25 Oil As Russia Fight Escalates
Oil prices have halved since the start of the year because demand has been hit by the coronavirus outbreak and after Russia and OPEC failed to reach a new deal on supply cuts.
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Saudi Arabia Has Asked Aramco To Boost Oil Capacity - CEO
Saudi Arabia has been pumping around 9.7 million bpd in the past few months, but has extra production capacity it can turn on. It also has hundreds of millions of barrels of crude in store.
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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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