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Saudi Arabia

oil

Oil price heads for $50 after Russia stokes output-deal rumour

16/08/2016(0)
Energy minister Alexander Novak pumps up hopes ahead of production talks next month Oil has enjoyed its best three-session gain for four months and the benchmark that sets prices ... Read More
A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport

Oil prices fall on U.S. crude inventory build, record Saudi output

11/08/2016(0)
Oil prices fell early on Thursday as a build in U.S. crude inventories and record Saudi Arabian production weighed on markets. U.S. West Texas Intermediate (WTI) crude futures CLc1 ... Read More
oil markets

Oil prices: OPEC may finally take action if crude’s slide continues

09/08/2016(0)
Oil’s recent dip back into the $30s per barrel may be enough to get some OPEC members to curb their bickering and consider joint action — especially if oil ... Read More
russia oil

Russia is set to replace Saudi Arabia as leading oil supplier to the Chinese market

08/08/2016(0)
Russia is set to replace Saudi Arabia as leading oil supplier to the Chinese market; over the past year monthly exports to China from Russia’s Far East have regularly ... Read More
A gas station attendant pumps fuel into a customer's car at PetroChina's petrol station in Beijing

Oil rises after month of steady decline but oversupply still weighs

01/08/2016(0)
Oil rose on Monday, driven by new orders as traders staked out positions at the start of the new month, but the market remains dogged by a crude glut, ... Read More
Worker looks at pump jack at oil field Buzovyazovskoye owned by Bashneft company north from Ufa

Oil near two-month low on economic woes; drillers adjust to lower prices

11/07/2016(0)
Oil fell on Monday over signs that U.S. shale drillers have adapted to lower prices and on renewed indications of economic weakness in Asia. Brent crude was trading at ... Read More
Oil tanks seen at the Saudi Aramco headquarters during a media tour at Damam city

So how big are Saudi Arabia’s oil reserves, really?

07/07/2016(0)
“How much oil lies beneath the desert sands of Saudi Arabia and how long will it last before running out?” is a question that has intrigued and confounded oil ... Read More
Worker looks at pump jack at oil field Buzovyazovskoye owned by Bashneft company north from Ufa

US energy secretary sees oil market coming into balance

01/07/2016(0)
The U.S. energy secretary said Friday he sees the global oil market coming into balance over the next year as rising demand catches up with a two-year-old supply glut ... Read More
An oil pump jack can be seen in Cisco, Texas

Oil Pares Biggest Weekly Drop Since April as Dollar Extends Fall

17/06/2016(0)
ConocoPhillips restarts oil-sands wells after Canada wildfires Russia sees no need to cooperate on influencing crude markets Oil pared the biggest weekly decline in more than two months as ... Read More
A natural gas flare on an oil well pad burns as the sun sets outside Watford City, North Dakota

OPEC has turned into battleground between Saudi Arabia and Iran

30/05/2016(0)
The next OPEC meeting on the 2nd of June will act as little more than a forum for continued altercations between Saudi Arabia and Iran, writes Rakesh Upadhyay of Oilprice.com. ... Read More
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