About: Saudi Arabia
OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic
OPEC and allies led by Russia agreed on Sunday (12 April) to a record cut in output to prop up oil prices amid the coronavirus pandemic in an unprecedented deal with fellow oil nations, including the United States, that could curb global oil supply by 20%.
G20 leaders to inject $5 trillion into global economy in fight against coronavirus
Leaders of the Group of 20 major economies pledged on Thursday (26 March) to inject over $5 trillion into the global economy to limit job and income losses from the coronavirus and "do whatever it takes to overcome the pandemic."
US shale will be first casualty of oil price war
Although the oil price war was triggered by the Russia-Saudi fall-out, US shale will be the first casualty, writes Robin Mills. In the process, the US will learn that producing a lot of oil at high prices is not the “energy dominance” it has made a centrepiece of foreign policy, he argues.
Saudi Arabia floods globe to squeeze Russia’s share of oil market
Saudi Arabia has stepped up efforts to squeeze Russia’s Urals oil grade out of its main markets by offering its own cheap barrels instead after their long-standing deal to support global oil prices fell apart, seven oil sources said.
US shale under pressure to make ‘at least’ 25% price cuts
US shale producers are seeking sharp service costs cuts to deal with plummeting prices and shrinking demand, according to executives and a letter sent to top providers, driving home the oil industry’s desperate efforts to cope with a market dive.
Russia to OPEC – deeper oil cuts won’t work
This week’s oil price rout had become inevitable and cutting output has ceased to make sense because it is unclear how deep the impact of the coronavirus on demand will be, Russia’s deputy energy minister said in an interview with Reuters on Wednesday (11 March).
Russian ministry, oil firms to meet after OPEC talks collapse and prices plunge
Russia’s Energy Ministry will meet with the country’s oil companies on Wednesday (11 March) to discuss future cooperation with the Organization of the Petroleum Exporting Countries, among other issues, two sources familiar with the plan told Reuters.
G20 finance heads wrap up Riyadh meeting overshadowed by virus outbreak
Finance leaders of the world's top 20 economies wrapped up their two-day meeting on Sunday (23 February) in Riyadh that was dominated by growing concern over the widening fallout from the coronavirus outbreak.
Commission: Yemen is the world’s biggest humanitarian crisis
Obstruction by the rebel Huthi authorities in northern Yemen has put the world's biggest humanitarian lifeline at risk, threatening millions with starvation.
UN experts demand probe into alleged Saudi hack of Amazon boss Bezos
U.N. experts have demanded an immediate investigation by U.S. and other authorities into allegations that Saudi Arabia’s crown prince was involved in a plot to hack the phone of Amazon boss and Washington Post owner Jeff Bezos.
US kills top Iranian commander Soleimani in air strike
The United States killed Iranian Major-General Qassem Soleimani, head of the elite Quds Force and architect of Iran’s spreading military influence in the Middle East, in an air strike on Friday (3 December) at Baghdad airport, the Pentagon and Iran...
COP25: Major developing countries still reluctant to amend Paris Agreement to ‘foot climate bill’
Countries such as Brazil, China and Saudi Arabia, are criticising Article 6 of the Paris Climate Agreement and its carbon offsetting mechanism even though they are currently not footing the "climate bill". A stance which climate advocates fear will weaken the entire treaty. EURACTIV France reports.
China’s growing interest in Saudi Aramco is part of a long game
The Aramco public offering gives China an opportunity to gain a foothold at the center of the global oil industry. According to Joseph Dana, the move is part of a longer-term attempt by Beijing to challenge the dollar’s dominance as the world’s universal currency.
After Saudi attacks, Russia makes its regional presence felt
In the two weeks since attacks blamed on missiles or drones shut down half of Saudi Arabia’s oil output, the country that has arguably moved most deftly to position itself for any upside is Russia.
Iran’s Rouhani says wider talks with US possible if 2015 deal implemented
Iran can discuss other issues with the United States providing its 2015 nuclear deal with six powers is fully implemented, Iranian President Hassan Rouhani said on Thursday (26 September), adding that Tehran's missile capabilities were not negotiable.
Pentagon to send radar, Patriot missiles to bolster Saudi defences
The Pentagon said on Thursday (26 September) it plans to send four radar systems, a battery of Patriot missiles and about 200 support personnel to bolster Saudi Arabia's defenses after the largest-ever attack on the kingdom's oil facilities this month.
Washington sees ‘many options short of war’ with Iran after attacks on Saudis
US President Donald Trump said on Wednesday (18 September) there were many options short of war with Iran after US ally Saudi Arabia displayed remnants of drones and missiles it said were used in a crippling attack on its oil sites that was "unquestionably sponsored" by Tehran.
Saudi attack will jolt oil markets out of ‘complacency’ over Gulf tensions – analysts
The price of oil has seemed relatively immune to heightened tensions in the Gulf, but this weekend’s attack on Saudi oil facilities means markets will now be more skittish.
The attack on Saudi Arabia’s Abqaiq refinery and the realpolitik of oil
After a Saudi oil processing facility came under attack, attention turned on the immediate effect this could have on oil prices. But the worry should be more over the medium term than the short term, writes Robin Mills.
Trump says US ‘locked and loaded’ for potential response to Saudi oil attack
US President Donald Trump said on Sunday (15 September) that the United States was "locked and loaded" for a potential response to the attack on Saudi Arabia's oil facilities, after a senior official in his administration said Iran was to blame.
US, France, Britain may be complicit in Yemen war crimes, UN report says
The United States, Britain and France may be complicit in war crimes in Yemen by arming and providing intelligence and logistics support to a Saudi-led coalition that starves civilians as a war tactic, the United Nations said on Tuesday (3 September).
As the sun sets on oil, the sun will rise on solar power
When shares in Saudi Aramco eventually go public, there will doubtless be a feeding frenzy on what promises to be the largest initial public offering ever seen. More significantly, the move would also signal Saudi Arabia’s recognition that sunset for fossil fuel is just over the horizon, writes Jonathan Gornall.
Mogherini cautions against ‘dangerous adventures’ in the Middle East
The European Union fully backs Iraq's efforts to de-escalate growing tensions between the United States and Iran because conflict will have dire consequences for all sides, EU foreign policy chief Federica Mogherini said on Saturday (13 July).