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Oil moved between gains and losses on Tuesday ahead of OPEC’s bi-annual meeting, which kicks off Thursday in Vienna.
Vast wealth and the promise of dramatic change make for cautious optimism concerning Saudi Arabia, the chief executive…
54 Views | the publication reaches you by | Saudi Arabia TodayU.S. West Texas Intermediate (WTI) crude futures rose 14 cents to settle at $56.10 a barrel, while Brent futures slid 5 cents to $60.87 a barrel.
“I have no deadline, no,” Trump told reporters in London, where he was due to attend a meeting of NATO leaders. “In some ways, I like the idea of waiting until after the election for the China deal.”
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, are discussing a plan to increase an existing supply cut of 1.2 million barrels per day (bpd) by a further 400,000 bpd and extend the pact until June, two sources familiar with the matter said.
Saudi Arabia is pushing the plan to deliver a positive surprise to the market before the initial public offering of state-owned Saudi Aramco, the sources said.
At the same time, a senior official at the International Energy Agency (IEA) said on Tuesday that OPEC producers are unlikely to agree to change their current deal on curbing output until the market outlook becomes clearer.
Russian Energy Minister Alexander Novak on Tuesday said he expected this week’s meeting to be constructive but added that Moscow had yet to finalize its position.
The project for the design, engineering and procurement of the new 400,000m3/day Jubail II seawater reverse osmosis (SWRO)…
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The Arab states of the Persian Gulf are the seven Arab states which border the Persian Gulf, namely Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).This excludes the non-Arab state of Iran. All of these nations except Iraq are part of the Gulf Cooperation Council (GCC).
