Saudi oil
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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…
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Saudis Leads Persian Gulf Nations in Cutting Break-Even Oil Price
EghtesadOnline: Saudi Arabia, OPEC’s biggest oil producer, is also a leader when it comes to slashing the crude price the country needs to balance its budget.
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Iran, Iraq Battle for Crude Market Share
EghtesadOnline: Iraq and Iran boosted crude exports in September, taking advantage of a slower pace of shipments from the rival Saudi Arabia to win buyers in key markets like China and the US.
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Saudi Arabia's Budget Deficit Narrows as Crude Revenue Rises
EghtesadOnline: Saudi Arabia’s second-quarter budget gap narrowed to 46.5 billion riyals ($12.4 billion) after income from oil advanced.
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Saudi, Iraq Oil Ministers Agree to Stronger Oil-Cuts Commitment
EghtesadOnline: OPEC’s two biggest producers agreed to strengthen their commitment to production cuts and maintain balance in world crude markets, Saudi Energy Minister Khalid Al-Falih said after…
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Saudi Economic Pain Will Test Resolve of Prince's Reform Push
EghtesadOnline: Saudi Arabia’s drive to reduce the economy’s reliance on oil has hit a snag: its reliance on oil.
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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…
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Iraq Is New Oil King, Beats Saudis in Fastest Growing Market
EghtesadOnline: Iraq is gaining the edge over Saudi Arabia in the world’s fastest-growing oil consumer amid an intensifying race among producers to retain their most-prized markets.
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Oil Rises After Third Weekly Loss as Saudi Arabia Sees Recovery
EghtesadOnline: Oil steadied after a third weekly loss as predictions by Saudi Arabia and Russia that crude markets will rebalance vied with signs that U.S. companies are drilling even more wells.
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Saudi's Falih Sees No Need to Alter Oil-Cuts Deal, Interfax Says
EghtesadOnline: Saudi Arabia doesn’t see any need for changes to the oil-cuts deal agreed on by OPEC and its allies last month in Vienna, Oil Minister Khalid Al-Falih said, according to Interfax.
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Aramco Raises Crude Pricing to U.S. and Asia on Increased Demand
EghtesadOnline: Saudi Arabia, the world’s largest oil exporter, raised pricing for July sales of all crude grades to Asia, the U.S. and Northwest Europe as it seeks to take advantage of increased…
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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,…
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In Aramco IPO pitch, Canada plays up its natural resources expertise
EghtesadOnline: The Toronto Stock Exchange's efforts to win a slice of the massive Saudi Aramco public listing plays up the country's deep experience in natural resources as part of a broader…
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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…
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Oil dips on rising U.S. crude inventories, defies expected supply cut extension
EghtesadOnline: Oil prices fell on Wednesday after data showed an increase in U.S. crude inventories, stoking concerns that markets remain oversupplied despite efforts by top producers Saudi…
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Aramco Plans at Least 10 Energy Deals During Trump Visit
EghtesadOnline: Saudi Aramco plans to sign agreements with at least 10 companies including General Electric Co. and oil field-service businesses Schlumberger Ltd. and Halliburton Co. when President…
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Saudis, Russia Favor Extending Oil Output Curbs by 9 Months
EghtesadOnline: Saudi Arabia and Russia said they favor extending oil-output cuts by global producers through the end of the first quarter of 2018 to shrink a market glut. Crude prices jumped.
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Saudi Arabia and Russia Signal Oil-Cuts Extension Into 2018
EghtesadOnline: Saudi Arabia and Russia signaled they could extend production cuts into 2018, doubling down on an effort to eliminate a supply surplus just as its impact on prices wanes.
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Oil prices rise on expectation of output cut extension
EghtesadOnline: Oil prices rose on Monday as Saudi Arabia's energy minister said an OPEC-led production cut scheduled to end in June would likely be extended to cover all of 2017, although a…
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Saudi Oil Minister Says Output Cuts May Extend Beyond Second Half of 2017
EghtesadOnline: Saudi Arabia’s oil minister said he is confident that an agreement by oil producers to curb output and shrink a market glut will be extended into the second half of the year and…
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Saudis to Invest at Least 50% of Aramco IPO Proceeds at Home
EghtesadOnline: Saudi Arabia will spend at least half the money it raises by selling shares in the state oil company on domestic investments, Deputy Crown Prince Mohammed bin Salman said in a…
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Total Eyes Stake in Aramco
EghtesadOnline: Taking part in the much-anticipated IPO of Saudi Arabian Oil Company, known as Saudi Aramco, is not off the table for oil major Total SA because it could be a "good investment",…
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Saudi Arabia Seen Losing Market Share to Iran, Iraq on Oil Cuts
EghtesadOnline: Saudi Arabia, the world’s biggest crude exporter, is losing market share to Iraq and Iran as a result of OPEC’s agreement to curb supplies to bolster prices, according to the…
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OPEC Ministers to Meet Russia Amid Push to Extend Cuts
EghtesadOnline: The energy ministers of OPEC members Saudi Arabia and Venezuela plan to meet their Russian counterpart to discuss extending oil-output cuts amid a developing consensus that they…
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Oil Veteran Says OPEC Needs Year to Pull Off Elusive Mission
EghtesadOnline: OPEC needs a year more to accomplish what’s at the moment proving to be mission impossible, according to a veteran oil analyst.
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Aramco CEO Sees Oil Market Closer to Balance Despite U.S. Boom
EghtesadOnline: The global oil market is moving closer to balance even as increases in U.S. oil production push prices down in the short-term, Saudi Arabian Oil Co. Chief Executive Officer Amin…
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Saudi Arabia Likely to Back Extending Oil Output Cuts
EghtesadOnline: Saudi Arabia is likely to support extending OPEC output cuts into the second half of 2017 in an effort to boost oil prices, according to a person familiar with the kingdom’s internal…
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Oil Extends Longest Gain of 2017 as Saudis Seen Extending Curbs
EghtesadOnline: Oil advanced for a seventh day in New York, the longest gain since December, on confidence Saudi Arabia will support an extension to OPEC-led output cuts just as U.S. stockpiles…
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Saudi Aramco to Raise $3 Billion in Debut Sukuk Sale
EghtesadOnline: Saudi Aramco is planning to raise 11.25 billion riyals ($3 billion) from its debut Islamic bond, according to a person with knowledge of the offering, boosting the size of the…
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Saudi Arabia to Switch Crude Oil Pricing for European Refiners
EghtesadOnline: Saudi Arabia is to tweak the benchmark it uses to sell its crude in Europe, in a concession to refiners in the region that have long complained about their ability to hedge using…