President Trump has directed the Energy Department to secure 77 million barrels of American oil to fill the nation’s Strategic Petroleum Reserve, amid the ongoing global coronavirus crisis and an oil war between Russia and Saudi Arabia. The department will begin filling the reserves by soliciting up to 30 million barrels of oil and will […]
The New Saudi Plan to Send Oil Prices Lower…
Saudi Arabia continues to signal to the market that it is not backing down from the oil price war despite the crumbling oil prices amid coronavirus-hit demand and promises of huge extra supply next month. Oil giant Saudi Aramco will proceed with the reduction of its refinery rates in Saudi Arabia in April and May […]
Saudi’s Ramp Up Oil Production to Record Levels…
Saudi Arabia will once more be the world’s biggest producer of crude oil under plans announced Wednesday to further increase the Kingdom’s output to a new record level. Prince Abdul Aziz bin Salman, the Saudi energy minister, told Saudi Aramco to prepare to increase its maximum sustainable capacity — the limit to the crude it […]
The Reason Why Russia Refused to Cut Oil Production…
OPEC asked Russia to cut an additional 300,000 bpd in oil production at last week’s meeting in Vienna, but according to Russia’s Deputy Energy Minister, this would’ve been ‘technically challenging.’ OPEC asked Russia to add another 300,000 bpd to its production cut quota art the Vienna meeting last week, but it would have been technically […]
Saudi Aramco to Increase Oil Output 12.3M Barrels Per Day Starting April…
Saudi Aramco said Tuesday that the company would increase its crude output to 12.3 million barrels per day in April. The new production level will be ”an increase of 300,000 barrels per day over the company’s maximum sustained capacity of 12 MMBD,” Aramco said in a statement to the Saudi stock exchange. The Company has […]
Can Saudi Arabia Survive the Oil Price War It Started?…
As the world watches an oil price war unfold between Russia, OPEC, and US shale, another major crisis is looming in the Middle East. Saudi Arabia is facing multiple existential threats as a renewed oil price slump threatens to not only hit the country’s revenues and economic diversification programs but also the already fragile position […]
Saudi Arabia’s Powerful Crown Prince Orders Arrests of Senior Royal Family Members…
Saudi Arabia’s powerful Crown Prince Mohammed bin Salman (MBS) has detained three senior members of the kingdom’s royal family, clearing away once-formidable rivals to the throne, people familiar with the matter have said. The Wall Street Journal and the New York Times reported that Prince Ahmed bin Abdulaziz, King Salman’s younger brother, and Prince Mohammed […]
Yemen Separatists, Government Troops Pull Back from Key City…
Yemeni separatists and forces loyal to the country’s U.N.-recognized government whose deadly infighting erupted last summer in the war-torn Arab country are pulling back from a key southern city, military officials said Thursday. The pullout, envisaged under a Saudi-brokered peace deal, began this week, the Yemeni officials told The Associated Press. They spoke on condition […]
Saudi’s Strike Deal Between Government and Separatists in Yemen…
A Saudi-led military committee tasked with enforcing the arrangements of the Riyadh Agreement made a significant breakthrough on Monday, convincing Yemeni military commanders to reposition their forces in the south of Yemen, officials said on Tuesday. The committee visited military bases in Aden, Lahi and Abyan, meeting with commanders from both the government and the […]
UNM Student from Saudi Arabia Charged with Illegally Possessing Handgun…
Hassan Alqahtani had plans to walk across the stage and collect his diploma from the University of New Mexico on Saturday, and then he and his parents were going to Disneyland to celebrate the accomplishment.Instead, the 27-year-old Saudi Arabian mechanical engineering student will be spending the weekend behind bars, charged in federal court with being […]
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