Search Results for: Saudi Arabia
No Agreement on OPEC Meeting After Venezuela Meets With Saudi Arabia
February 9th, 2016
The prospects for an emergency OPEC meeting to initiate coordinated production cuts took a hit this weekend. Venezuela’s oil minister Eulogio del Pino flew to Riyadh to meet with Saudi officials, which followed a recent trip to Moscow to ...
Russia is now China’s biggest oil partner — and it’s a huge problem for Saudi Arabia
February 4th, 2016
Saudi Arabia has long trumped Russia in the Chinese oil market. The Saudi share of Chinese crude imports at the beginning of the decade was about 20%, while Russia’s was below 7%, according to data cited by RBC Capital ...
Saudi Arabia: Could This Spark a Stock Market Crash in 2016?
January 4th, 2016
Saudi Arabia’s Budget Woes Could Trigger Economic Collapse in 2016 The collapse of oil prices to below $37.00 per barrel, compared to $56.00 last January, has sunk Saudi Arabia’s accounts and hurt its budget expectations. According to the 2015 ...
Oil surges on Saudi Arabia, Iran tensions
January 4th, 2016
Oil prices surged during the start of 2016 trading as relations between top crude producers Saudi Arabia and Iran deteriorated, raising concerns about potential supply disruptions, though weak Asian manufacturing data kept a lid on bullish expectations. Saudi Arabia, ...
Saudi Arabia’s government is looking at smart, alternate revenue sources
December 21st, 2015
Saudi Arabia’s foreign reserves are a confidence booster but undoubtedly the government is looking at smart, alternate revenue sources that will not erode the country’s competitive advantage, say economists. Saudi Arabia has the financial depth to continue spending on ...
Saudi Arabia, Allies Willing to Cut Oil Production If Others Follow
December 3rd, 2015
Divisions emerge ahead of a contentious OPEC meeting on Friday Saudi Arabia and its Persian Gulf allies are willing to pull back oil output as crude prices skidded further Wednesday but won’t cut unless other producers like Iran, Iraq ...
Egypt can’t rely on cash-strapped Saudi Arabia
November 5th, 2015
Egypt is running low on cash. And this time, oil-rich friends like Saudi Arabia may not be able to come to its rescue. Egypt‘s lack of cash is threatening its ability to mount an economic comeback from the turmoil ...
IMF: Four Things You Need to Know about Saudi Arabia’s Economy (Video)
September 10th, 2015
Saudi Arabia’s oil policy has an important impact on the global oil market. This year, Saudi Arabia has increased its crude oil production to a record level, re-establishing it as the largest crude oil producer. Source: IMF
Oil’s Drop Puts Spotlight on Saudi Arabia
August 25th, 2015
Some OPEC members call for renewed discussions within cartel about restraining production The plunge in global oil prices has eroded an important pillar of Saudi Arabia’s strategy of pumping freely to grab global market share: Demand growth that once ...
Saudi Arabian stocks tumbled entering a so-called death cross
August 18th, 2015
Saudi Stocks Sink Into Death Cross as IMF Sees Growth Slowing Saudi Arabian stocks tumbled, entering a so-called death cross, after the International Monetary Fund said the drop in oil prices may force spending cuts and curtail the kingdom’s ...
