Saudi Arabia

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: , , |

IEA warns of ever-growing reliance on Middle Eastern oil supplies

Agency says rise in demand amid price slump has given region biggest market share since 1970s

Source:  FT, 2016/07/07

By |July 12th, 2016|Categories: News|Tags: , , , , , |

US holds more oil reserves than Saudi Arabia, Venezuela, new study shows

The US holds the world's biggest recoverable reserves of oil putting it ahead of OPEC giants Saudi Arabia and Venezuela as well as Russia, according to an independent study by Norwegian research group Rystad Energy.

Source:  Platts, 2016/07/04

Young Saudis on the spot as prince plans to expand private sector

Millions face rude awakening from cutbacks to civil service

Source:  FT, 2016/07/03

By |July 5th, 2016|Categories: News|Tags: , , |

Saudi Arabia Oil Minister Says Oversupply Has ‘Disappeared,’ Signals Kingdom’s Return To Oil Balancing Role

Saudi Arabia — the world’s largest oil exporter and the de facto leader of OPEC — may return to its traditional role of balancing supply and demand, the kingdom’s energy minister said Wednesday. Khalid al-Falih’s comments, reported by the state-run oil giant Saudi Aramco, suggest that the global oil glut that has led to a [...]

By |June 28th, 2016|Categories: News|Tags: , , , , , |

Saudi Arabia to Cut Public-Sector Wage Bill in Post-Oil Plan

Saudi Arabia plans to reduce the public-sector wage bill as well as subsidies by 2020, scaling back the state largesse that helped ensure political loyalty in the largest Arab economy. The reductions are a pillar of the National Transformation Program the Saudi cabinet approved on Monday. A major component of the Vision 2030 plan unveiled [...]

By |June 7th, 2016|Categories: News|Tags: , , , |

A little bit of the Donald…

We never saw it coming, but in the end, it seems that nothing is impossible in America. Donald Trump is thus going to be the next Republican official candidate for the next presidential election in the United States. So it is now necessary, even though really inconsistent, to have a closer look to Mr. Trump [...]

By |May 26th, 2016|Categories: Analyst's Insight|Tags: , , , , |