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Saudi Aramco to increase oil production to meet global demand
Saudi Aramco to increase oil production to meet global demand Saudi Arabia’s state oil company said it would increase spending on oil production to meet rising global demand, as it reported a doubling of profits in 2021.© Provided by The Guardian Photograph: Ahmed Jadallah/ReutersSaudi Aramco – the world’s largest oil exporter and one of the world’s most profitable […]
Middle East Oil Producers Are Drowning In Debt
Middle East Oil Producers Are Drowning In Debt Arab Gulf oil producers are losing billions of U.S. dollars from oil revenues this year due to the pandemic that crippled oil demand and oil prices. Because of predominantly oil-dependent government incomes, budget deficits across the region are soaring. Middle East’s oil exporters rushed to raise taxes and […]
Saudi Arabia Refuses To Learn From Its Two Failed Oil Price Wars
Saudi Arabia Refuses To Learn From Its Two Failed Oil Price Wars Having failed to achieve the slightest semblance of success in the two oil price wars that it started – the first running from 2014 to 2016, and the second running from the beginning of March to effectively the end of April this year […]
How Saudi Arabia Caused The Worst Oil Price Crash In History
How Saudi Arabia Caused The Worst Oil Price Crash In History Saudi Arabia made good on its promise to flood the market with oil after the collapse of the previous OPEC+ deal in early March. The Kingdom’s oil exports jumped by 3.15 million bpd to 11.34 million bpd in April. Saudi Arabia made good on […]
How Much Will Oil Surge When Trading Reopens
How Much Will Oil Surge When Trading Reopens Now that Goldman has successfully sparked a near-frenzy of chaos, confusion (and market buy orders) ahead of tonight’s trading open, the only question is how high will oil surge. And according to some preliminary estimates, oil analysts expect crude prices to jump at least $5 to $10 a barrel […]
THE END OF THE OIL GIANTS: And What It Means
THE END OF THE OIL GIANTS: And What It Means Recently, Saudi Aramco, the world largest oil exporter, has acknowledged that Ghawar, the world largest oil field, is in decline. The news went mostly unnoticed except in the specialised media. OK, so the Saudi have a bit of bother, so what? In fact, this piece […]
Never Trust A Banker About Oil Prices
Never Trust A Banker About Oil Prices In recent weeks I’ve commented on the powerful bullish forces that have combined in oil and oil stocks and your need to increase your exposure to them. So, before going on to other topics, this has to be the start of any column until further notice, despite the […]
Saudi Aramco IPO More About Geopolitics Than Finance
Saudi Aramco IPO More About Geopolitics Than Finance In the first week of 2016, Saudi deputy crown prince Mohammed bin Salman, in an interview with the Economist, revealed that the Saudi government is considering selling shares in government-owned Saudi Aramco and/or its downstream assets through an IPO. He indicated that a decision on the IPO […]
