Saudi Energy Minister Khalid Al-Falih urged the OPEC+ coalition to “stay the course” on output limits after a meeting in Jeddah
oil producer
global oil market
Gulf countries strengthen oil coordination amid tensions: Kuwait
Jarallah’s comments come days after sabotage attacks against tankers in highly sensitive Gulf waters and the bombing of a Saudi pipeline
crude production
Oil jumps as OPEC signals continued cuts and US threatens Iran
Oil has rallied about 40% this year as supply cuts have outweighed concerns about slowing demand growth caused by trade tensions between the US and China
global oil market
Saudi, UAE see sufficient oil supplies, rising stocks
Producer nations discussed how to stabilise a volatile oil market amid rising US-Iran tensions in the Gulf
Dr Mohammed bin Hamad Al Rumhi
OPEC+ job isn’t done as oil inventory rising, says UAE’s Al Mazrouei
Oman’s oil minister, Mohammed Al Rumhi, said the producers will stick to their policy of limiting production
largest oil exporter
Middle East looking toward shale oil in the future, says UAE Energy Minister
UAE Energy Minister Suhail Al Mazrouei says that oil-producing countries in the region should work with shale producers as partners
BAPCO
Bahrain’s Bapco to trade in more petroleum products by 2023 as it expands refinery
The non-OPEC oil producer last year announced its largest ever oil discovery estimated to have at least 80 billion barrels of oil
Crude price
Oman’s oil minister says crude will average over $60 a barrel this year
Oman Oil Minister Mohammed Al-Rumhi the agreement between the OPEC and partners can keep prices between $60 and $70 a barrel
Abu Dhabi
Qatar OPEC withdrawal not a cause for concern, says UAE Energy Minister
UAE Energy Minister and former OPEC President Suhail Al Mazroui said that Qatar does not have enough capacity to risk the oil market
Fitch Solutions
Qatar withdrawal impact on OPEC to be minimal, experts say
Analysts have said the move from Qatar is largely symbolic, as the country has limited prospects for production increases
Abu Dhabi
OPEC+ weighs output cut as threat of new surplus sinks prices
A technical committee representing the OPEC+ coalition projected that a global oil surplus will resurface in 2019 if they continue pumping at current rates
Alexander Novak
OPEC sees need to keep oil supply deal as demand faces headwinds
Khalid Al-Falih, the Saudi energy minister, and his Russian counterpart Alexander Novak met Saturday and “re-emphasised their joint commitment to ensuring the adequacy of oil supplies
chemical producer
With Aramco IPO shelved, Saudi Arabia’s PIF looks to tech, mega city
Much of the ambitious economic and social plan to diversify the Saudi economy relies on the PIF as an orchestrator of economic growth
Crude price
Rising oil price sees Gulf Arab borrowing at lowest since 2014
Oil and gas producers in Saudi Arabia, Kuwait and the UAE plan to spend more than $600 billion on energy projects over the next five to 10 years
Crude price
OPEC aims for modest output hike to overcome Iran’s dissent
OPEC officials are also working on putting the cooperation between the cartel, Russia and other oil producers on a permanent footing
Crude price
Oil slumps near $64 as OPEC clash looms and trade war escalates
Crude has dropped more than 10 percent from its high in May amid signs Saudi Arabia and Russia are seeking to lift output curbs that have eliminated a global surplus and boosted prices
ADNOC
ADNOC’s $45bn downstream, facilities investment to create 15,000 jobs
ADNOC’s investment programme will see the creation of new Ruwais conversion and derivatives parks