Saudi Arabia

How Deep Will Saudi Cut Its Oil Output? To the Lowest Since 2015?

Posted on by The Editorial Team
How Deep Will Saudi Cut Its Oil Output? To the Lowest Since 2015?

LAGOS (Capital Markets in Africa) – Saudi Arabia has promised to do “whatever it takes” to end the global oil glut. If it cuts supplies in November by as much as it pledges, the kingdom will reduce production and exports alike by more or less a million barrels a day compared with last year. And that’s about all the world’s biggest oil exporter — and linchpin of a global plan to bolster crude markets — can do…

Read More

OPEC Shrugs Off Threat Trump’s America Will Cut Oil Imports

Posted on by The Editorial Team
OPEC Shrugs Off Threat Trump’s America Will Cut Oil Imports

LAGOS (Capital Markets in Africa) – OPEC’s two biggest suppliers to the U.S. shrugged off a vow by President Donald Trump to end dependence on the group’s oil, saying the world’s biggest economy would continue to need crude from abroad. The U.S. is “closely integrated in the global energy market,” Saudi Arabia’s Energy and Industry Minister Khalid Al-Falih said, while his Venezuelan counterpart Nelson Martinez said he expects his country’s crude exports to the world’s top consumer to remain stable. “The…

Read More