The Saudis and OPEC may not be in a cooperative mood in 5 years, thus the price of oil could rocket. Remember that EVs will only solve perhaps 10% of oil usage, so the public has been mislead about the source of oil demand and our supplies. This means we could have a severe crisis...
Today, 1 USD = 3.7507 SAR 1 Barrel Crude Oil = $61.9 USD 1 Barrel Volume = 159 Liters Electricity Price in SAR Electricity Residential 0.2 SAR Electricity Commercial: 0.257 SARBarrel Price of Crude Oil in saudi riyal Total Barrel/sCurrent Price 1 Barrel 232.2 SAR 5 Barrel 1161.1 SAR ...
Saudi ArabiaelasticityThe paper investigates gasoline consumption in case of oil-exporting country applying Time-varying Coefficient Cointegration approach to the data from 1980 to 2017. Empirical estimations show that long-run income and price elasticities are not constant and are responsive to price ...
Nigeria: The price of octane-95 gasoline is 861.25 Nigerian Naira per liter. For comparison, the average price of gasoline in the world for this period is 2008.85 Nigerian Naira. The chart below shows the price of gasoline in the country relative to other countries. Use the drop menu to se...
Reduced Russian crude output tightened global oil supplies and supported prices after Russian oil production fell to 8.062 million bpd in January, which was -16,000 bpd below its OPEC+ quota. Oil prices saw support this week after Saudi Arabia, Iraq, and the United Arab Emirates raised their ...
In any case, if we extrapolate the 2005 to 2008 rate of decline in the ECI for GNE and for Saudi Arabia, the predicted and actual results for 2011 are shown below: Actual 2005 Data: GNE ECI: 3.75 Saudi ECI: 5.60 Predicted and Actual 2011 Data: ...
Trump got a warm welcome in Qatar and RFK Jr. faces tough questioning in Congress. Aneeta Mathur-Ashton May 14, 2025 Trump’s Middle East Tour, Explained Trump’s first extended overseas trip of his second term will see him talking to leaders of Saudi Arabia, Qatar and the Unite...
Today's gasoline also contains, 30% by volume, BTX (benzene, toluene and xylene). Known carcinogens that could be replacedin their entiretyby advanced biofuels. The Clean Air Act has sections that are not being enforced due to the petroleum lobby and as I've posted here several times, we...
Biden joins a rich tradition of presidents who express frustration with high gasoline prices. In 2019, then-President Donald Trump tweeted at OPEC, the Saudi Arabia-led cartel of oil producers. “Oil prices getting too high,” Trump tweeted. “OPEC, please relax and take it easy. World canno...
Meanwhile, a gallon of diesel fuel is usually $1 or so more than gasoline, although per-gallon prices of both plunged this year when a production war between Saudi Arabia and Russia drove down petroleum prices and the coronavirus-caused economic slump cut demand. Years before, the builders ...