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Central Banks Have Slowed Down Gold Buying, Here’s Why
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Coronavirus: FTSE 100 falls nearly 9% as global slump triggers oil price war
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Saudi Arabia’s Oil Price War Cost The Kingdom $12 Billion In One MonthDespite record oil exports in April as Saudi Arabia flooded the market with excess oil, the value of the Kingdom’s crude exports plunged by US$12 billion from April 2019 levels as the lowest oil..
Saudi Arabia’s Oil Giant Cuts Hundreds Of Jobs Amid Price CollapseThe world’s biggest oil-producing company, Saudi oil giant Aramco, has started laying off hundreds of employees—mostly foreign staff—across several divisions in response to the oil price crash,..
Saudi Arabia’s Oil Exports To The U.S. Set To Drop To 35-Year LowSaudi Arabia is significantly cutting its crude oil exports to the United States this month, with shipments likely to hit a 35-year low and reducing the overhang in U.S. oil inventories, Bloomberg..
Asian Oil Markets Tighten After Saudi Aramco Cuts SupplySaudi Arabia’s oil giant Aramco has cut the crude oil shipments loading in July to at least five of its customers in Asia, Reuters reported on Monday, quoting sources familiar with the plans. The..
Saudi Arabia Shocks Oil MarketsCOVID Oil Market Update Saudi Arabia shocked the markets this week when it said it would not keep up the voluntary portion of the cuts--the extra cuts beyond the official OPEC+ agreement--past June...
Saudi Arabia Sees Oil Export Revenues Slide In Q1Saudi Arabia exported crude oil worth some $40 billion during the first quarter of the year, down by 21.9 percent, or $11 billion, on the first quarter of 2019, Reuters reports, adding that Brent crude..
Saudi Arabia Increases Its Oil Prices By Most In Two DecadesSaudi Arabia sharply raised its official selling prices for crude oil, removing almost completely the deep discounts it had in place to preserve its market share during the price war it waged on Russia..
Saudi Aramco Shares Recover To Level Before Oil CrashShares in Saudi oil giant Aramco have recovered to levels not seen since Saudi Arabia launched the oil price war in early March, becoming the first major oil firm to regain its market value since oil..
U.S. Shale Cuts Production Deeper And Faster Than Expected“I think the cuts are automatic if you are a believer in markets,” U.S. President Donald Trump said about potential American oil production cuts in early April while he was pushing Saudi Arabia..
Saudi Arabia Cuts June Oil Exports To AsiaSaudi Arabia’s oil giant Aramco has slashed by up to 30 percent its crude oil allocations to at least three buyers in Asia for June, compared to what customers had nominated, sources at refineries..
Oil Jumps After Saudi Arabia, UAE And Kuwait Pledge Deeper CutsOil prices rose early on Tuesday after OPEC's Middle East heavyweights pledged additional cuts, instilling hopes in the market that further production reductions could help accelerate the drawdown of..
Oil Prices Rally As Saudi Arabia Pledges To Cut Additional 1 Million BpdOil prices turned higher on Monday, erasing earlier losses after the world’s top oil exporter and OPEC leader, Saudi Arabia, said it would cut oil production by an additional 1 million barrels per..
U.S. To Withdraw Patriot Missiles From Saudi Arabia Over Oil DisputeThe United States will pull two Patriot missile batteries from guarding Saudi Arabian oil facilities, an American official told the Associated Press on Thursday, citing a disagreement over oil..
Saudi Arabia Raises Oil Prices As Demand RecoversSaudi Arabia’s oil giant Aramco raised the price for all its crude oil grades to all regions for June in a move that analysts see as the start of demand recovery—and this move sent oil prices..
Saudi Arabia Succeeds In Seizing Oil Market Share From Key RivalsThe Saudi-Russian oil price war may be officially over with the new, historic, OPEC+ deal, but Saudi Arabia has continued to aggressively pursue additional market share in Asia and managed to squeeze..
How Trump Convinced Saudi Arabia To End The Oil Price WarU.S. President Donald Trump was so intent on saving the American oil industry that he told the Saudi crown prince that unless the Kingdom stopped the oil price war and got OPEC+ together for a new..
Trump Could Use ‘Nuclear Option’ To Make Saudi Arabia Pay For Oil WarPresident Donald Trump is considering all options available to him to make the Saudis pay for the oil price war as the crash that followed has done significant damage to the U.S. oil industry With last..
Saudi Arabia Starts Production Cuts Ahead Of OPEC+ DealOPEC’s top producer and the world’s top oil exporter, Saudi Arabia, has already started cutting its oil production ahead of the official start of the new OPEC+ pact on May 1,..
Saudi Arabia’s Oil Stock GambitIt's the basic successful investment rule: buy when everyone is selling and sell when everyone is buying. The rule has been proved right by many a legendary figure in the investment world. Now that..
Saudi Arabia Slashes Asian Oil Exports By 2 Million BpdSaudi Arabia’s oil giant Aramco will be sending 4 million barrels per day (bpd) of its crude to Asia in May, down from the full contractual volumes of 6 million bpd, a Saudi source with knowledge of..
Saudis To Issue Debt As Price Crash And Oil Deal Hit RevenuesOPEC’s top producer and the world’s top oil exporter, Saudi Arabia, may soon tap the international debt market to raise money as the oil price crash and the historic oil production cut deal are..
Is Saudi Arabia Restarting The Oil War?Saudi Arabia’s oil giant Aramco has just announced the pricing for its oil for May, with deeper discounts for customers in Asia for the second month in a row, despite Sunday’s historic global..
Pressure mounts on Saudi Arabia to finalise oil dealBiggest supply pact in history endangered by Mexico’s refusal to make equal cuts
U.S. oil state senators to talk crude markets with Saudi officials Saturday: sourceRepublican U.S. senators who have introduced a bill that would remove U.S. defense systems and troops in Saudi Arabia unless it cuts oil output will hold a call with the kingdom's officials on..
This Emerging Producer Could Be Crucial To The Largest Oil Deal In HistoryBrazil’s energy minister said on Monday that it would attend the G20 meeting of oil ministers that Saudi Arabia is trying to rally together to cut oil production, Reuters reported on Monday. Saudi..
Mexican president calls on Russia, Saudi Arabia to end oil price warMexican President Andres Manuel Lopez Obrador on Saturday called on Russia and Saudi Arabia to reach a deal soon and end their oil price war to avoid deepening the oil price crisis.
OPEC+ meeting delayed as Saudi Arabia and Russia row over price collapseOPEC and Russia have postponed a meeting planned for Monday until later next week, OPEC sources said on Saturday, as a row intensified between Moscow and Saudi Arabia over who is to blame for plunging..
U.S. Shale Ready To Fire Back In The Oil Price WarU.S. shale oil companies have started a lobbying campaign with Washington to take a more aggressive stance against Russia and Saudi Arabia to force them to cut oil production, the Financial Times..
What Happens If The World Runs Out Of Oil Storage?It was only a matter of time, really. With demand decimated by the coronavirus and Saudi Arabia on the oil warpath, the imbalance between oil supply and demand deepened dramatically, raising the..
Oil Prices Slide As Saudi Arabia Confirms Another Export BoostSaudi Arabia is not backing down from the oil price war for market share, pledging another increase in its crude oil exports starting in May, despite a growing global glut amid crashing demand...
Russia’s Self-Inflicted Oil CrisisThe timing could not have been worse for Russia to provoke a spat with Saudi Arabia over oil production quotas in early March. Moscow’s decision to withdraw from the OPEC+ agreement restricting oil..
Oil Climbs As U.S. Pushes For An End To The Price WarOil prices continued to rise for the third day in a row, recovering earlier losses as U.S. lawmakers pressure Saudi Arabia to end the oil war.The ongoing oil war, in which Saudi Arabia and Russia are..
Crude oil futures rise, but support seen weakU.S. crude oil futures climbed nearly 3% on Tuesday in light trading as the Trump administration launched an effort to work with Saudi Arabia to stabilise oil prices.
Trump’s Ultimate Weapon To End The Oil WarU.S. President Donald Trump is facing increasing calls from some U.S. senators and congressmen to pressure Saudi Arabia into ending the oil price war, with one of his own Republican party - Senator..
Saudi Arabia’s Oil Price War Is BackfiringSaudi Arabia and Russia must have anticipated an oil price crash when they broke up their three-year-long bromance to push up oil prices. Two weeks later and nearly 4 million bpd of total..