Tag: Saudi Arabia
Oil Plummets to 17-Year Low as Broken Market Drowns in Crude
(Bloomberg) -- Oil slumped to a 17-year low as coronavirus lockdowns cascaded through the world’s largest economies, leaving the market overwhelmed by cratering demand and...
U.S. Calling on Saudis to Halt Plan to Unleash Record Oil Supply
(Bloomberg) -- The Trump administration is pressing Saudi Arabia to dial back its plan to flood the oil market after a price war with Russia...
Mideast Stocks Drop Despite $47 Billion of Central Bank Aid
(Bloomberg) -- Most equity markets in the Middle East fell on Sunday, despite efforts by central banks across the region to protect economies from shocks...
Aramco Slashes Spending as Virus Erases Oil Demand Growth
(Bloomberg) -- Saudi Aramco is slashing planned spending this year in the first sign that plunging demand and the oil-price war the kingdom unleashed are...
Abu Dhabi Plans Big Oil Output Boost to Join the Price War
(Bloomberg) -- Abu Dhabi National Oil Co. will boost crude supply to more than 4 million barrels a day next month as the United Arab...
Oil Rally Falters With Supply Fear Weighed Against Stimulus Hope
(Bloomberg) -- Oil’s rebound from its biggest crash in a generation ran out of steam on skepticism the U.S. would be able to deliver sufficient...
US$10mn From Saudi Arabia’s Coffers To Help WHO Fight Coronavirus
Saudi ruler, King Salman bin Abdulaziz Al Saud has issued a directive to provide financial aid to the World Health Organization (WHO) to help...
Coronavirus Update: 14 New Cases in UAE; ATM Postponed, Saudi Flights Suspended
The UAE's Ministry of Health and Prevention has announced 14 new cases of the Covid-19 coronavirus had been confirmed in the country. Four of them...
Oil Drops 31% in Worst Loss Since Gulf War as Price Fight Erupts
(Bloomberg) -- Oil markets crashed more than 30% after the disintegration of the OPEC+ alliance triggered an all-out price war between Saudi Arabia and Russia...
OPEC Deal Is High Risk for Both Saudi Arabia and Russia
(Bloomberg) -- With OPEC pre-announcing a big production cut for it and its allies without the support of Russia, Saudi Arabia appears to be trying...
