Oil May Hit $100 but Volatility Will Grow, Say Energy CEOs
Benchmark oil prices could hit $100 a barrel and price volatility could also grow due to lower investments and the energy transition, the heads of top energy companies said on Tuesday."There is quite a chance t
OPEC+ to Weigh Modest Output Boost, Sources Say
OPEC+ oil producers will discuss a modest easing of oil supply curbs from April given a recovery in prices, OPEC+ sources said, although some suggest holding steady for…
Saudi Aramco's Profit Plunges, Sees Signs of Recovery
State oil giant Saudi Aramco's profit plunged 73% in the second quarter of the year, as a slump in energy demand and prices due to the coronavirus crisis hit sales at the…
OPEC, Russia Extend Record Oil Cuts
OPEC, Russia, and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past…
Saudi Arabia, Russia Reach Deal on Oil Output Cut Extension
OPEC leader Saudi Arabia and non-OPEC Russia have agreed a preliminary deal to extend existing record oil production cuts by one month while raising pressure on countries…
Saudi Arabia to Reduce Oil Production Further
Saudi Arabia will voluntarily deepen oil output cuts from June as low oil prices are causing huge pain to the kingdom's budget and global demand remains weak due to lockdowns…
OPEC+ Oil Pact Hinges on Mexico Joining
Saudi Arabia's energy minister said on Friday that a final OPEC+ oil supply pact to reduce 10 million barrels per day (bpd), which was agreed on Thursday, hinges on Mexico joining in the cuts.OPEC…
OPEC+ Debates Biggest Ever Oil Output Cut as Virus Destroys Demand
OPEC and allies are working on a deal for an unprecedented production cut equivalent to around 10% of global supply, an OPEC source said after U.S. President Donald Trump…
Saudi Arabia's Tanker Power Play Could Backfire
Top exporter Saudi Arabia has chartered an armada of ships to flood the market with additional oil, but in the process has driven freight costs so high refiners are reluctant…
Iran Oil Minister says China's Virus Impacted Oil Demand
Iranian Oil Minister Bijan Zanganeh said on Monday that the spread of China's new coronavirus had hit oil demand and called for an effort to stabilise oil prices, Iran's…
Saudi Aramco Sets Record $25.6 Bln IPO
State-owned oil giant Saudi Aramco's initial public offering (IPO) will be the biggest in history, but will fall short of the towering $2 trillion valuation long sought…
Aramco: IPO Will Come Soon
The initial public offering (IPO) for state-owned oil company Saudi Aramco will come soon, and will be a decision taken by Saudi Crown Prince Mohammed bin Salman, the kingdom's…
Saudi Arabia to Trim Oil Exports Further in February
Top oil exporter Saudi Arabia plans to lower its shipments further in February as it follows through on a global deal to cut output to prevent a build-up in supplies.Saudi…
Rising US Oil Clout on Show in Houston
A glance at the attendee list at one of the world's largest energy industry events in Houston this week left little question about the growing influence of the United States…
Banks Re-pitching for Aramco IPO Roles
Investment banks are scrambling to re-pitch to advise Saudi Aramco on a possible initial public offering, sources familiar with the matter said, with Saudi Arabia's energy…
OPEC+ Extends Output Cuts
OPEC and its allies led by Russia agreed to extend oil output cuts until March 2020 on Tuesday, seeking to prop up the price of crude as the global economy weakens and U.S.
U.S. and Gulf Allies Face Task Protecting Oil Shipping Lanes
The United States and its allies may need to to start escorting commercial vessels to prevent further attacks in Gulf oil shipping lanes, Gulf sources and experts said.Even then…
OPEC to Release Country Quotas for Oil Output Cut
Oil producer group OPEC plans to release a table detailing output cut quotas for its members and allies such as Russia in an effort to shore up the price of crude, OPEC's…
Saudi Aramco Targets Zero Flaring
Saudi Aramco said on Wednesday it was joining the World Bank's initiative to reduce gas flaring to zero by 2030 and said its flaring was already less than 1% of its total raw gas production in the first half of
Saudi Energy Minister Sees Strong Global Oil Demand
Saudi Arabia's Energy Minister Khalid al-Falih said that oil demand remains strong and that he sees no impact from U.S.-China trade tensions."The global economy is strong enough, I'm not too concerned.
