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Man Who Moved Oil With His Words Won't Talk About It Anymore

EghtesadOnline: For more than two decades, the oil market hung to Ali al-Naimi’s every word -- whether he was taking a characteristic stroll at dawn on Vienna’s Ringstrasse, hurrying through a hotel lobby after a conference, or dodging throngs of reporters at an OPEC meeting.
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Publish Date:02/March/2017 | 11:14

Saudi Oil Shipments Soared Ahead of OPEC Production Cut

EghtesadOnline: Saudi Arabia’s crude exports surged to a 13 1/2-year high in November, just before it led global producers in restricting supplies to curb the worst glut in decades.
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Publish Date:20/January/2017 | 11:55

Aramco Chief Says Oil Tax Will Be Cut to Lure Investors to IPO

EghtesadOnline: Saudi Arabia has promised it will reduce the overall tax rate paid by its national oil company to make its 2018 initial public offering -- potentially one of the largest in history -- more appealing to investors.
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Publish Date:18/January/2017 | 04:49

Saudi Oil Output Drops Under OPEC Quota Close to Two-Year Low

EghtesadOnline: Saudi Arabia has reduced oil production to less than 10 million barrels a day, below its targeted level, and will consider renewing its pledge to cut crude output in six months, Energy Minister Khalid Al-Falih said.
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Publish Date:14/January/2017 | 14:33

Saudis Said to Duel Rivals by Curbing Heavy Oil Over Light Crude

EghtesadOnline: Saudi Arabia is staying in the battle for market share by continuing to pump the type of oil that’s similar to rival U.S. and African supply, while fulfilling its promise to cut output by focusing curbs on other varieties.
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Publish Date:09/January/2017 | 11:12

Saudi Oil Minister Sees Commitment to Cuts Ending Glut in Months

EghtesadOnline: OPEC and other major oil producers are committed to a “high level of compliance” with their agreements to cut output, and the shared strategy will balance the market in 2017, Saudi Oil Minister Khalid Al-Falih said.
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Publish Date:15/December/2016 | 07:01

Aramco Keeps Building Oil Rigs Even as Saudis Agree to Pump Less

EghtesadOnline: Saudi Arabian Oil Co. signed contracts with U.S. companies to build dozens of oil rigs over 10 years as the kingdom builds for the long-term future of its most prized industry even while coordinating with other producers to cut output for six months to stabilize crude.
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Publish Date:15/December/2016 | 06:59

One Europe Oil Refiner Said to Get 20% Less Saudi Arabia Crude

EghtesadOnline: Saudi Arabia, spearheading OPEC’s quest to eliminate a crude glut, will cut the amount of oil it allocates to one European refining company by about 20 percent, a person with direct knowledge of the matter said.
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Publish Date:14/December/2016 | 08:59

Saudi Said to Tie Crude-Supply Cuts to January Volume Requests

EghtesadOnline: Saudi Arabia, the driver behind the OPEC/non-OPEC agreement to reduce oil production to eliminate a global glut, plans to reduce supplies to customers in January based on requests for shipments, according to a person familiar with the matter.
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Publish Date:14/December/2016 | 08:47

Oil Seen Headed to $60 as Saudis Signal Deeper Output Cuts

EghtesadOnline: Oil may climb to $60 a barrel for the first time in almost a year and a half after Russia and other unaffiliated nations joined an OPEC pledge to reduce production and Saudi Arabia surprised the market by saying it will cut more than previously agreed.
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Publish Date:12/December/2016 | 13:55

Saudi Minister Jolts Oil Market in Whatever It Takes Moment

EghtesadOnline: Saudi Oil Minister Khalid Al-Falih emerged from the OPEC meeting room on Saturday evening having endured months of secret petro-diplomacy, late-night phone calls and, a few times, disagreements that almost saw talks collapse. But he was still smiling.
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Publish Date:12/December/2016 | 13:50

Oil Surges as Saudis Eye Deeper Cuts While Non-OPEC Joins Deal

EghtesadOnline: Oil jumped to the highest since July 2015 after Saudi Arabia signaled it’s ready to cut output more than earlier agreed and non-OPEC countries including Russia pledged to pump less next year.
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Publish Date:12/December/2016 | 13:48

Saudi hits new oil output record in November amid OPEC cut talk

EghtesadOnline: Saudi Arabia pumped record-high amounts of oil in November, amid talks over a global deal to cut production, defying market expectations of lower output on slower domestic demand and refinery maintenance.
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Publish Date:11/December/2016 | 20:24