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Joint Kuwait-Saudi Oil Fields to Stick to OPEC Caps If Restarted

EghtesadOnline: Kuwait and Saudi Arabia agreed that any resumption of crude production from shared oil fields along their border won’t raise their output beyond limits set at an OPEC meeting last week, according to two officials familiar with the talks.
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Publish Date:08/December/2016 | 18:25

Saudi Arabia Switches OPEC Tack With Eye on World’s Top IPO

EghtesadOnline: To understand why Saudi Arabia changed course and decided OPEC should go back to managing supply, look at two of the kingdom’s biggest policy challenges: the urgent need to plug holes in its budget and the plan to sell a stake in the state-owned oil monopoly.
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Publish Date:06/December/2016 | 16:24

OPEC Deal Can Work, But ‘We Tend to Cheat,’ Al-Naimi Says

EghtesadOnline: OPEC’s agreement to cut production for the first time in eight years has the potential to balance the oil market, as long as everyone sticks to it, former Saudi Arabia Oil Minister Ali al-Naimi said.
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Publish Date:04/December/2016 | 12:54

For Saudis, Even a Small Oil Cutback Is a Big Deal

EghtesadOnline: This week’s OPEC meeting about a global production cut is in crisis before it has even begun. Pre-summit discussions with non-member oil producers such as Russia were canceled. The Saudi Arabian government now warns that members may leave Wednesday’s talks in Vienna empty-handed -- an outcome that would be sure to trouble markets.
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Publish Date:30/November/2016 | 21:25

OPEC Tries to Salvage Deal as Saudis Say Cut May Not Be Needed

EghtesadOnline: OPEC ministers flew to Moscow and officials in Vienna launched another round of talks in an effort to salvage an agreement on production cuts, just as Saudi Arabia raised the possibility of leaving without a deal.
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Publish Date:28/November/2016 | 09:56

Saudis Temper Call for Cuts and Russia Digs In

EghtesadOnline: OPEC surprised the market in September with a preliminary agreement to reduce supply to 32.5 million to 33 million barrels a day, breaking a two-year policy to pump at full throttle. The news pushed prices above $50 a barrel in New York for the first time since June, but optimism faded as subsequent meetings failed to decide cuts for individual members.
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Publish Date:28/November/2016 | 09:53

Saudi Arabia: Give Us Your Money and Don't Ask About Oil

EghtesadOnline: For Saudi Arabia, some things are better left unsaid. As they swapped their traditional white robes for business suits and ties to meet with prospective investors ahead of the kingdom’s first-ever international bond sale, Saudi government officials talked at length about their vision for transforming the economy.
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Publish Date:18/October/2016 | 06:06

Saudi Oil Minister Signals He’s Open to Iran Compromise at OPEC

EghtesadOnline: Saudi Arabia gave the strongest indication yet it’s ready to compromise with regional rival Iran, potentially paving the way for the first limit on oil production in two years, although a deal is unlikely until OPEC’s next meeting in November.
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Publish Date:28/September/2016 | 07:19

Oil Edges Higher as Saudi Offer Opens Door to Future OPEC Deal

EghtesadOnline: Oil pared its biggest drop in more than two months as Saudi Arabia’s offer to cut output opens the door to a future OPEC deal, even as it doesn’t expect an agreement this week when members of the group meet.
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Publish Date:26/September/2016 | 08:34

Japan’s Biggest Banks Plan to Sign Agreement With Saudi Aramco

EghtesadOnline: Mitsubishi UFJ Financial Group Inc.’s banking unit and its two biggest Japanese peers plan to sign a non-binding agreement with Saudi Arabian Oil Co. in Tokyo this week to expand lending to the state-run firm as it considers an initial public offering, people with knowledge of the matter said.
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Publish Date:01/September/2016 | 09:15

Saudi Arabia Signals Ambition for $80 Oil Price

EghtesadOnline: Saudi Arabia wants to get oil prices near $80 a barrel to pay for the government’s crowded policy agenda and support the valuation of state energy giant Aramco before an initial public offering.
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Publish Date:11/April/2018 | 06:52

Saudi Economy Shrinks, Showing Task Facing New Crown Prince

EghtesadOnline: Saudi Arabia’s economy shrank by 0.5 percent in the first quarter, illustrating the scale of the challenge facing the country’s new heir as he overhauls an economy still reliant on a struggling oil industry.
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Publish Date:02/July/2017 | 07:22

NPC Sees Saudi Petrochem Expansion as a Growing Challenge

EghtesadOnline: The rapid expansions of regional rival Saudi Arabia in the petrochemical sector is a real challenge that is emerging as a "hazard" to Iran's market share, says Marzieh Shahdaei, head of the National Petrochemical Company.
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Publish Date:29/May/2017 | 07:47

Cheer Up, OPEC: Oil Price Slump May Yet Prove to Be ‘Knee Jerk’

EghtesadOnline: Saudi Arabia’s Energy Minister Khalid Al-Falih said he had no interest in the “knee jerk” reactions of the oil market when crude prices collapsed on Thursday as he sought to explain OPEC’s deal to prolong supply curbs. According to Bloomberg, here’s some evidence that he could be right in believing the slump won’t last.
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Publish Date:27/May/2017 | 03:49