Tuesday, April 1, 2025
Analysis-Saudi Arabia's 'icing on the cake' oil cut could feed US producers- oil and gas 360

Analysis-Saudi Arabia’s ‘icing on the cake’ oil cut could feed US producers

Yahoo LONDON – Saudi Arabia has crafted a complex OPEC+ deal with a view to punishing investors that have bet on falling oil prices but could inadvertently lend long-term support to the rival U.S. energy industry, OPEC+ insiders and market watchers said. On Sunday, Saudi Arabia pledged to cut its oil output by 1 million barrels per day (bpd), or

Saudi Arabia's energy minister tells short sellers to 'watch out'- oag360

Saudi Arabia’s energy minister tells short sellers to ‘watch out’

Oil Price Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman has warned traders, again, against shorting oil futures, less than two weeks before the OPEC+ panel on production policy meets on June 4. Prince Abdulaziz bin Salman promised oil speculators back in 2020, “I’m going to make sure whoever gambles on this market will be ouching like hell.” The OPEC+

Saudi Arabia, Russia may cut production, but don’t expect exports to plunge-oil and gas 360

Saudi Arabia, Russia may cut production, but don’t expect exports to plunge

Oil Price After releasing its impressive oil consumption data for March 2023, the latest production figures from the Joint Organisations Data Initiative (JODI) show that Saudi oil exports rose slightly from 7.45 million bpd to 7.52 million bpd in February. The data also shows a slight increase in Saudi production to 10.46 million bpd ahead of the surprise production cut, which was

Saudi Arabia’s oil revenues hit $326 billion in 2022- oil and gas 360

Saudi Arabia’s oil revenues hit $326 billion in 2022

Oil Price Saudi Arabia received as much as $326 billion in oil revenues for 2022, its biggest oil sales haul in the era of Crown Prince Mohammed bin Salman, although monthly revenues have been lower in recent months after oil prices slid to around $80 per barrel at the end of last year. Saudi Arabia recorded its highest-ever oil revenues back in

Saudi Arabia: 2022 oil production cuts show OPEC’s flexibility- oil and gas 360

Saudi Arabia: 2022 oil production cuts show OPEC’s flexibility

World Oil (Bloomberg) — Saudi Arabia’s energy minister said oil production cuts announced last year by OPEC+ show the group’s readiness to be flexible.   The kingdom and other members of the OPEC+ coalition have already signaled the group will stick to its current oil production targets for the rest of the year. Prince Abdulaziz bin Salman said that past

Saudi Arabia: 2022 OPEC oil agreement “here to stay”- oil and gas 360

Saudi Arabia: 2022 OPEC oil agreement “here to stay”

World Oil Bloomberg) — The OPEC+ alliance plans to stick with an oil deal agreed in late 2022 for the rest of the year, Saudi Arabia’s energy minister said, reinforcing earlier signals from the group.     In October, OPEC and its partners took the unusual step of assigning fixed production targets for a full year ahead. Key officials have

Saudi Arabia surprises markets by increasing oil prices to Asia- oil and gas 360

Saudi Arabia surprises markets by increasing oil prices to Asia

World Oil On Monday, Saudi Arabia raised the official selling price of its flagship crude going to Asia in March. The hike, which was the first in six months, was due to expectations of a rebound in Chinese demand.   Saudi oil giant Aramco lifted the price of its flagship Arab Light grade to Asia for March loadings by $0.20

Saudi Arabia looks to invest in mining assets to secure critical minerals- oil and gas 360

Saudi Arabia looks to invest in mining assets to secure critical minerals

Oil Price Saudi Arabian Mining Company (Ma’aden) has signed an agreement with the Saudi sovereign wealth fund, the Public Investment Fund, to set up a joint company that will invest in mining assets abroad to secure strategic minerals. Under the joint venture agreement, Ma’aden will own 51% of the new company, while the Public Investment Fund (PIF) will own the

Saudi Arabia makes more unconventional gas discoveries- oil and gas 360

Saudi Arabia makes more unconventional gas discoveries

Oil Price Saudi Arabia’s oil giant Aramco has discovered two unconventional natural gas fields in the eastern part of the country, Energy Minister Prince Abdulaziz bin Salman said on Wednesday.   The Awtad unconventional gas field has been discovered southwest of the giant Ghawar field, and the AlDahna unconventional gas field has been discovered 230 kilometers (143 miles) southwest of Dhahran, the

Saudi Arabia eyes OPEC+ production increase - WSJ- oil and gas 360

Saudi Arabia eyes OPEC+ production increase – WSJ

Investing Saudi Arabia and other OPEC oil producers are discussing an output increase, the Wall Street Journal reported on Monday, citing unidentified delegates within the group.   An increase of up to 500,000 barrels per day is now under discussion for OPEC+’s Dec. 4 meeting, the report said. Oil prices, which were already down on the day, fell more than

Washington’s oil supply spat with Saudi Arabia could backfire- oil and gas 360

Washington’s oil supply spat with Saudi Arabia could backfire

World Oil Three weeks ago, President Joe Biden threatened Saudi Arabia with “consequences” after the kingdom that is the de facto leader of OPEC supported a decision to reduce oil production by about 1 million barrels daily.     The U.S. president was so agitated because U.S. midterms were approaching, and his and his government’s rating was falling and gasoline prices were

Oil prices fall on recession worries, but supply cuts support- oil and gas 360

Oil prices fall on recession worries, but supply cuts support

Nasdaq RIYADH – Neither side is backing down in a battle of wills over oil between Saudi Arabia’s Crown Prince and U.S. President Joe Biden, putting severe strain on their countries’ energy-for-security alliance, although a full rupture looks unlikely, Gulf sources and experts said.   As de facto leader of the OPEC+ oil group, Saudi Arabia risked U.S. wrath when