With four years of experience in reaching consensus among the members of the OPEC+ group of oil exporters, it is not hard to imagine that group extending or deepening such cuts to mitigate the impact of the coronavirus outbreak impact on the global economy.
February 14, 2020
Oil prices have already spiked to $70 this year because of rising tensions around Iran, a reminder of the volatility that nobody wants to see become the norm in 2020.
January 15, 2020
Brent crude has averaged about $64 per barrel in 2019, a relatively low oil price backdrop for the initial public offering (IPO) of Saudi Aramco. That makes the success of the share sale all the more significant.
December 18, 2019
This year’s budget demonstrated that the Kingdom is starting to reap the rewards of the Saudi Vision 2030 economic and social blueprint, by diversifying
its income sources while reducing dependence on oil.
December 11, 2019
US shale producers are cutting spending for the second year in a row. That raises questions about shale’s medium to long-term resilience as it struggles with sustaining the key WTI breakeven point of $50 per barrel.
November 27, 2019
Abu Dhabi National Oil Company (ADNOC) wants to open a futures market for “Murban” crude oil next year.
ADNOC produces about 1.7 million bpd as its main and most abundant crude grade produced from onshore fields.
November 20, 2019
Saudi Aramco has announced its intention to proceed with an initial public offering (IPO) on the local Saudi stock exchange “Tadawul” after approval by Saudi Arabia’s Capital Market Authority.
November 06, 2019
Latin America has become an increasingly important source of medium and heavy crude oil to feed America’s west coast refineries.
October 22, 2019
Saudi Arabia and Russia account for more than a fifth of global oil production and also together hold the lion’s share of crude oil spare capacity of around 2.8 million barrels per day (bpd).
October 15, 2019