Authorities expect oil production to go from the current 10 million barrels a day to 11.03 million barrels in 2023
Largest oil producer
Crown Prince Mohammed bin Salman
Saudi budget deficit narrows after oil income recovers
The world’s largest oil exporter has embarked on an ambitious reform programme to curb expenditure
Crude price
Can OPEC drive the gulf economic reform plans?
GCC governments have a chance to push ahead with economic diversification if OPEC can keep oil prices under control. But that process will not be easy
Amin Nasser
Aramco sees oil market balanced as UAE dismisses shale threat
Shale oil represents only a fraction of global production and ‘is not an enemy to OPEC,’ said UAE energy minister
crude oil
Gas substitution to support Middle East oil exports in 2018, research shows
Gas projects will allow oil exports to increase exports and maintain production levels while adhering to an extension of OPEC cuts
Crude exporter
Oil holds gain above $56 after surge on Saudi cut extension plea
Saudi Arabia has had extensive consultations with Russia over extending supply cuts
Aramco
Saudi retreat from US oil market cuts exports to 30-year low
US imports just 525,000 barrels a day of Saudi crude in October, the lowest since May 1987
Largest oil producer
Oil’s Mideast-driven rally dented by global markets selloff
Crude has surged about 35 percent since reaching its 2017
Crown Prince Mohammed bin Salman
Oil trades near 2-year high as Saudi upheaval spurs risk premium
Oil has gained more than 20 percent since the beginning of September on signs global supplies are tightening
Global oil demand
Oil advances as Saudi purge bolsters pro-OPEC cut Crown Prince
Mohammed bin Salman has already been outspoken in his support for an extension to the current OPEC cuts
Budget
Saudi Arabia needs oil at $70 to break even, says IMF
The price per barrel is down from a break-even of $96.60 in 2016
Crown Prince Mohammed bin Salman
Video: Saudi Aramco a blow for Mohammed bin Salman
Saudi Aramco could postpone international listing plans and favour a private share sale to sovereign wealth funds and institutional investors. Obstacles to the listing and why it’s so important for the crown prince.
Amin Nasser
Saudis to make deepest cut to crude supply despite strong demand
Saudi Aramco will cut 560,000 barrels a day in its allocations to customers next month
Amin Nasser
Saudi Aramco plans ‘mega investment’ in India
The plant is slated to be among the world’s largest, in a country that imports about 80% of its crude