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Saudi Arabia’s Energy Minister Khalid al-Falih talks to journalists before a meeting of OPEC oil ministers in Vienna, Austria, June 2, 2016/. Reuters
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A gas flame is seen in the desert near the Khurais oilfield, about 160 km (99 miles) from Riyadh, Saudi Arabia June 23, 2008. REUTERS/Ali Jarekji/File Photo
Saudi Arabia, Russia Pledge to Stabilize Oil Market
Crude oil futures pared gains on Monday after the world’s two biggest oil producers Saudi Arabia and Russia said Monday they had agreed to “act together” to try to stabilize oil prices, including limiting output. Brent crude futures for November...Caption:
Oil Refinery in China Marwan Naamani | AFP | Getty Images
How does Saudi Arabia Maintain its Share in Chinese Oil Market?
Al-Khobar – There is no doubt that the Chinese oil market has become more competitive this year and based on the Chinese government’s statistics, Saudi Arabia holds the largest share in the Chinese market, however the amount of oil imports from Saudi Arabia...Caption:
International Atomic Energy Agency (IAEA) chief Yukia Amano (C), flanked by Kuwaiti under secretary for foreign affairs, Khaled al-Jarallah (L), and Finance and Oil Minister, Anas al-Saleh, attends a seminar on nuclear applications for sustsnable development in Gulf Cooperation Council (GCC) countries, on February 15, 2016, at the Arab Organisations Headquarters in Kuwait City. / AFP
Kuwait Deputy FM Says No Space for Oil Production Increase
DUBAI-Kuwait’s deputy foreign minister Khaled Jarallah called for a freeze in oil production, and said Iran must learn from the market, noting that there is no space to support further increase, state agency news Kuna reported on Saturday. Jarallah’s statements came...Caption:
The meeting will include major oil producers who will be urged to freeze their oil output to support the market stability