This is the story of how black gold transformed a nation and shaped the future of energy
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Latest in oil producer
oil market
Saudi Arabia slashes oil exports as it implements OPEC+ supply deal
Saudi shipments were down by about 430,000 barrels a day, or roughly 6%, by mid-November
crude oil output
Saudi Arabia rejects criticism that OPEC+ decision to cut crude production was politically motivated
A Saudi foreign ministry statement said the OPEC+’s meeting outcomes were based purely on economic considerations, taking into account maintaining balance of supply and demand in the oil markets, as well as o limit volatility that does not serve the interests of consumers and producers
Non-oil GDP
Saudi Arabia’s oil production rose by 20 percent in eight months
Daily barrels reached around 10.5 million barrels in the Kingdom, higher by 1.8 million daily barrels compared to the same period last year
clean energy
The real metric of economic diversification shows how far the UAE has come
The decrease in the breakeven external oil price paints a very strong economic picture for the UAE
crude oil output
UAE close to maximum oil production based on OPEC+ baseline
The country is near to its maximum production capacity according to the Minister of Energy and Infrastructure
Crude exporter
Aramco moves into Russia’s backyard with polish oil deal
The Saudi-government-owned oil giant will be ramping up oil sales in Russia’s energy backyard
Brent Crude
Video: How the US oil price fell below zero
Worries about the level of demand and lack of available storage capacity pushed the price of benchmark US crude oil prices below zero.
Brent Crude
Video: OPEC agrees to 10 million barrels cuts
Russia and Saudi Arabia have called off their brutal price war and are now pushing dozens of major crude producers toward a deal that would slash production.
coronavirus
Video: Global oil market in crisis amid virus lockdowns
Crude oil prices have fallen sharply as virus lockdowns cut demand.
Brent Crude
Video: Why Saudi Arabia launched an oil price war
Oil prices had one of their biggest ever falls after the effective collapse of an agreement between Saudi Arabia-led OPEC and Russia. The agreement was designed to support the market against the impact of coronavirus.
Basrah Light crude
Video: ‘I cannot see us not agreeing’ on an OPEC+ production cut, says UAE energy minister
Ahead of meetings with non-OPEC allies in Vienna Friday, The UAE’s Energy Minister Suhail al-Mazrouei discussed the possibility that Russia would agree to proposed production cuts.
Aramco IPO
Saudi Aramco approaches Asian state oil producers on IPO
Saudi Aramco also reached out to state-owned entities from the United Arab Emirates and Kuwait
Crude price
Oil producers should get used to $60 per barrel, says Oman minister
Mohammed bin Hamad Al Rumhi said oil growing to $80 per barrel is ‘highly unlikely’
Abu Dhabi
Oil nations to do ‘whatever necessary’ to balance market, says UAE minister
UAE energy minister Suheil al-Mazrouei warned that with the US-China trade row hanging over the world economy, additional output cuts may not be the best way to boost sagging prices
crude production
Oil rebounds from seven-month low as Saudis seek to stem slide
Planned gatherings in Abu Dhabi early next month will be critical for leaders of the OPEC+ group, especially the Saudi and Russian energy ministers, to signal their intentions on production
crude production
Saudi Aramco’s gas deal signals commitment to oil cuts, Brookfield says
Saudi Aramco announced that it’s taking a 25% stake in Sempra Energy’s Port Arthur liquefied natural gas terminal in Texas