Saudi Arabia

Coronavirus

Saudi, Russia rift widens

06/04/2020

US President Donald Trump’s call for a 10 million barrel per day – or even 15mn bpd – cut drove up oil prices last week but weak demand continues to run the show, with little respite expected from talks due to take place this week.

Coronavirus

OPEC+ poker game on Monday: Russia holds better cards than Saudi Arabia

03/04/2020

A month after the last unproductive OPEC+ meeting and with Covid-19 slashing demand amid the ongoing price war, the US has managed to broker a new extraordinary meeting for oil-producing nations. Russia and Saudi Arabia will be back to the negotiating tele-table on 6 April 2020 to discuss the output cuts of at least 10 million barrels per day (bpd), first announced by US President Donald Trump on Twitter on 2 April 2020.

Coronavirus

Oil stuck near $30 as global rout deepens

17/03/2020

Oil clawed back some losses after collapsing below $30 a barrel as the shut down of swathes of the world’s economy triggers a meltdown in global fuel demand and the most volatile market on record.