Panmure Gordon: There's robust demand growth for oil Saudi Arabia and Russia are ironing out the details on an unprecedented pact to extend controls over major exporters for decades to come. Riyadh and Moscow have been engaged in supply cuts over the past year in order to try to clear ...
“It’s really killing an industry, hurting Russia badly, hurting Saudi Arabia badly,” Trump said Thursday. Trump’s comments came the day before he’s scheduled to meet with U.S. oil industry leaders to discuss the price crash and what can be done to help the industry. CLICK HERE TO...
Oil market players will be closely watching the meeting in St. Petersburg on Jul. 24 of the Opec/non-Opec joint ministerial committee (JMMC) at a time when cracks are appearing in the groups' production cut deal. However sources in Russia and Saudi Arabia insist that the agreement will ...
Oil prices fell through the floor in early trading Monday, tanking as much as 30% after Saudi Arabia slashed its crude prices for buyers. The kingdom is reportedly preparing to open the taps in an apparent retaliation for Russia's unwillingness to cut its own output. "This has turned into ...
OPEC leader Saudi Arabia and non-OPEC Russia have agreed a preliminary deal to extend existing record oil output cuts by one month while raising pressure on countries with poor compliance to deepen their cuts, OPEC+ sources told Reuters.
MOSCOW—A global deal on oil production led by Russia and Saudi Arabia could be extended to the end of 2019, Saudi Energy Minister Khalid al-Falih told RIA news agency on April 30, without specifying whether or how much output levels could change. ...
Saudi Arabia has told the White House it would be willing to boost oil production early next year if crude prices are high, a move aimed at winning goodwill in Congress for a deal in which the kingdom would recognize Israel and in return get a defense pa
Russia and Saudi Arabia agreed to closely coordinate on the OPEC+ output cuts deal, two weeks ahead of a crucial meeting of the group.
Saudi Arabia plans to boost crude output above 10 million barrels per day (bpd) in April after the current supply deal between OPEC and Russia expires at the end of March, two sources told Reuters on Sunday. “Saudi Arabia and Russia are entering into an oil price war that is likely to...
Saudi Arabia is the world's second-largest oil producer, after the United States. Russia is the third-largest. The state-run Saudi Press Agency quoted the Foreign Ministry as saying that "the international community must assume its responsibility to maintain energy supplies" in order to "stand ...