BUSINESS | Saudi Arabia Makes Four New Oil, Gas Discoveries: Energy Minister

RIYADH - - Saudi Aramco has discovered four new oil and gas fields in Saudi Arabia, the Minister of Energy Prince Abdulaziz bin Salman announced on Sunday, according to Saudi Press Agency (SPA). Non-conventional oil was discovered in the al - Reesh oil field, north - west of the Dhahran. The city, a major administrative … Continue reading BUSINESS | Saudi Arabia Makes Four New Oil, Gas Discoveries: Energy Minister

BUSINESS| Oil Drops As OPEC+ Resume Talks On Output Cut Extension After Impasse

Oil prices fell on Thursday as producers including Saudi Arabia and Russia locked horns over the need to extend record production cuts set in place in the first wave of the COVID -19 pandemic. Brent crude was down 15 cents, or 0,3%, at $48.10 a barrel by 0155 GMT, after gaining 1,8% on Wednesday. U.S … Continue reading BUSINESS| Oil Drops As OPEC+ Resume Talks On Output Cut Extension After Impasse

BUSINESS | OPEC+ Panel To Hold Informal Online Talks On Saturday

A panel of OPEC+, a group of leading oil producing countries, will hold informal online talks on Saturday prior to meetings scheduled for next week, a letter seen by Reuters showed and source with knowledge of the matter said. OPEC+ is debating whether to ease oil output cuts from Jan.1, as it previously agreed, or … Continue reading BUSINESS | OPEC+ Panel To Hold Informal Online Talks On Saturday

BUSINESS | Oil Closes At Highest Level Since March

NEW YORK - - Oil rose about 4% on Tuesday to couch high not seen since March as a third promising coronavirus vaccine raised hope for fuel - demand recovery and U.S. President - elect Joseph Biden began his transition to the White House. Brent crude settled at $47.86 a barrel, gaining $1.80, or 3.9%. … Continue reading BUSINESS | Oil Closes At Highest Level Since March

ECONOMY | Saudi Aramco Plans Debt Market Comeback With Multi – Tranche Bond Deal

Saudi Aramco said on Monday it had hired banks for a multi – tranche U.S. dollar – denominated bond issuance, as the world’s largest oil company seeks cash amid lower oil prices. Gulf issuers have shown no sign of slowing this year’s blitz of issues on international debt markets as they work to plug issues … Continue reading ECONOMY | Saudi Aramco Plans Debt Market Comeback With Multi – Tranche Bond Deal

BUSINESS | Kuwait Says To Support Any OPEC+ Supply Decision

Kuwait said on Thursday it would support any decision made by OPEC and its allies on future oil supply policy. ‘Kuwait fully supports the joint OPEC+ efforts to restore balance to the oil market, and going forward we will also support whatever necessary joint decision will be agreed to under the OPEC+ framework’, Kuwaiti Oil … Continue reading BUSINESS | Kuwait Says To Support Any OPEC+ Supply Decision

BREAKING NEWS | Kremlin Says Russia, Saudi Arabia Are At Important Part Of Oil Talks

MOSCOW – Russia and Saudi Arabia are at an important part of oil talks and recent flurry of phone calls between the leaders of the energy – rich countries are aiming at stabilizing the oil markets, the Kremlin said on Monday. Russian President Vladimir Putin and Saudi Arabia Crown Prince Mohammed bin Salman held two … Continue reading BREAKING NEWS | Kremlin Says Russia, Saudi Arabia Are At Important Part Of Oil Talks

BUSINESS | OPEC+ Fears Second Virus Wave Could Lead To Oil Surplus In 2021

MOSCOW – OPEC and its allies fears a prolonged second wave of the COVID-19 pandemic and a jump in Libyan output could push the oil market into surplus next year, according to a confidential document seen by Reuters, a gloomier outlook than just a month ago. A panel officials from OPEC+ producers, called the Joint … Continue reading BUSINESS | OPEC+ Fears Second Virus Wave Could Lead To Oil Surplus In 2021

BREAKING NEWS | Saudi Crown Prince Discusses OPEC+ Agreements With Vladimir Putin

RIYADH | SAUDI ARABIA  - Saudi Arabia’s Crown Prince Mohammed Bin Salman discussed with Russian President Vladimir Putin energy markets and the implementation of agreements by the oil producers group known as OPEC+ on Saturday. ‘Both sides have reiterated their willingness to continue close coordination in this area in order to maintain stability on the … Continue reading BREAKING NEWS | Saudi Crown Prince Discusses OPEC+ Agreements With Vladimir Putin