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Saudi Minister Warns of $50 Oil
Saudi Minister Warns of $50 Oil as OPEC+ Members Flout Production Curbs
The kingdom called out members for overproducing, in what was seen as a veiled threat of a price war.
Saudi minister says crude prices could fall 33% if OPEC members don't stop pumping so much
Part of the issue is that members are not sticking to their pledged cuts. The Saudi minister called out Iraq, which surpassed its quota by 400,000 barrels per day in August, according to S&P Global Ratings data. Kazakhstan, which overproduced by 120,000 barrels a day, was also singled out.
OPEC objects to report about Saudi minister’s warning about production cuts
The Organization of the Petroleum Exporting Countries on Wednesday said it refuted a Wall Street Journal report that Saudi Arabia’s oil minister Prince Abdulaziz bin Salman warned fellow producers that oil could drop to $50 a barrel if they don’t comply with agreed production cuts.
In Depth
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In Depth
Exclusive: Kushner has discussed U.S.-Saudi diplomacy with Saudi crown prince
Jared Kushner, son-in-law of former U.S. President Donald Trump, has discussed U.S.-Saudi diplomatic negotiations involving ...
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on MSN
New $100 Million Saudi Film Fund Chief Talks Need for Investments in Production and Infrastructure
Saudi Arabia in September launched a $100 million film fund aimed at attracting investments from global film studios to help ...
2d
Saudi Billionaire’s Firm Resumes Work on World’s Tallest Tower
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Saudi Arabia hopes for de-escalation in Middle East, economy minister says
Saudi Arabia is hoping for de-escalation and dialogue, Economy Minister Faisal al-Ibrahim said on Wednesday, when asked at a ...
3h
‘Saudi Welcome to Arabia’ rolls out the lavender carpet for India, at ‘Spectacular Saudi’ in Mumbai
Spectacular Saudi’ is now open to the public from September 25 to 2 October 2024, with exclusive giveaways, culinary ...
3d
Saudi Strategic Shift Raises Specter Of Another Oil Bust
Saudi Arabia is again signaling a shift in strategy to protect global market share. The last time this happened, an oil bust ...
Skift
1d
What is a Domestic Tourist? And Why Do Saudi Arabia and the UAE Want Them?
Domestic tourism is a relatively new fascination amongst Gulf countries whereby they look to increase the spending of ...
22h
Saudi Prince's $11.8M Never-Lived-In Virginia Mansion Finally Under Contract
The post Saudi Prince's $11.8M Never-Lived-In Virginia Mansion Finally Under Contract appeared first on Real Estate News & ...
3d
Saudi Firm Weighs Raising $4 Billion for Luxury Red Sea Resorts
The firm developing luxury tourism projects on Saudi Arabia’s Red Sea coast is planning to raise at least 14 billion riyals ...
6h
US-Based Man Lists "Executioner In Saudi Arabia" As Hobby On Dating App, Internet Reacts
A dating profile of a man claiming to be an executioner in Saudi Arabia is going viral online, sparking shock and amusement ...
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