Saudi Arabia

Waiting for the next oil price rise

The coming OPEC meeting that will take place on the 30th November continues to draw much attention from analysts. At the end of September, the OPEC had agreed to cut oil output to a range between 32.5 and 33.0 million barrels per day. Crude prices had immediately increased by 6%. However, the actual outcome of [...]

By |November 17th, 2016|Categories: Analyst's Insight|Tags: , , , , , , , |

Saudi can face economic challenges, insists minister – The Middle East Monitor – 01/11/2016

The Saudi Minister of State has insisted that the kingdom is able to face the economic challenges at local and global levels despite the fall in oil prices, Anadolu reported on Monday. Essam Bin Saad, who is also a Member of the Cabinet and Acting Minister of Culture and Information, also said that the government [...]

By |November 3rd, 2016|Categories: News|Tags: , , |

GCC economies are responding well to the fiscal reforms: IIF – Gulf News – 20/10/2016

Ratio of Government spending to non-oil GDP to decline from 60 per cent in 2014 to 40 per cent by 2020.

Source:  Gulf News, 2016/10/20

By |October 27th, 2016|Categories: News|Tags: , , , , , , , , |

Saudi Arabia’s Energy Minister Warns of Oil Shortage – WSJ – 19/10/2016

Khalid al-Falih lends his voice to theory low oil prices caused energy companies and countries to pull back so sharply from spending that their output will soon fall.

Source:  WSJ, 2016/10/19

By |October 27th, 2016|Categories: News|Tags: , , , , |

Saudi Arabia: are the financial markets fuelling their own distress?

Last Wednesday (Oct. 19th 2016), Saudi Arabia placed its historical first bond issue. And when it comes to the biggest oil producer in the world, things are necessarily out of proportions… The country thus borrowed USD 17.5 billion on the biggest syndicated loan ever placed by a sovereign. This issue was segmented in three tranches: [...]

By |October 21st, 2016|Categories: Analyst's Insight|Tags: , , , , |

Oil production cut announcement in Algiers: OPEC plays it like the FED

It did not take long for media to trumpet that OPEC reached an historical agreement in Algiers on September 28th and for markets to react accordingly. It seems the vast majority of observers and investors are buying the story of a concerted action among OPEC producers, possibly extending beyond OPEC, which will promptly eliminate current [...]

By |October 6th, 2016|Categories: Analyst's Insight|Tags: , , , , , , |

Opec agrees on oil output cut at Algiers meeting – FT – 29/09/2016

Crude prices climb more than 6% as cartel ministers reach consensus on production curbs.

Source:  FT, 2016/09/29

By |September 29th, 2016|Categories: News|Tags: , , , , , , |

Saudi Arabia-Russia: never-ending status quo

The following interview was given by Olivier Rech (Beyond Ratings' Head of Energy-Climate research) to El Watan on the 6th September 2016.

Crude oil prices recovered today in London, gaining about 5% along the first half of the trading session. Do you think that there are signs of hope stemming from the comments of some OPEC members, on the [...]

By |September 15th, 2016|Categories: Analyst's Insight|Tags: , , , |

Russian-Saudi deal lifts oil prices by 5%

Russia and Saudi Arabia signed a memorandum on joint actions to support the stability of the oil market and guarantee a sustainable level of investments. The signatures were made on Sept. 5 by the countries' energy ministers Alexander Novak and Khalid al-Falih. Details of the agreement are still unknown, but immediately after it was announced [...]

By |September 15th, 2016|Categories: News|Tags: , , , , , |

Saudi Arabia’s non-oil sector slips into recession

Saudi Arabia’s non-oil economy has slipped into a technical recession for the first time since the 1980s, compounding the woes of a country already grappling with an oil sector pummelled by low prices. The country’s non-oil sector contracted 0.7 per cent year on year in the first three months of 2016, according to official data.

Source: [...]

By |July 20th, 2016|Categories: News|Tags: , , |