• 3 minutes UAE says four vessels subjected to 'sabotage' near Fujairah port
  • 6 minutes Why is Strait of Hormuz the World's Most Important Oil Artery
  • 8 minutes OPEC is no longer an Apex Predator
  • 12 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 2 hours Canada's Uncivil Oil War : 78% of Voters Cite *Energy* as the Top Issue
  • 2 hours Australia Sky News Election Summary: "This was the Climate Change Cult Election, and the Climate Change Cult Lost"
  • 6 hours China Downplays Chances For Trade Talks While U.S. Plays ‘Little Tricks’
  • 6 hours California Threatens Ban on ICE Cars
  • 21 mins Australian Voters Reject 'Climate Change' Politicians
  • 6 hours IMO2020 To scrub or not to scrub
  • 10 hours Global Warming Making The Rich Richer
  • 6 hours Did Saudi Arabia pull a "Jussie Smollett" and fake an attack on themselves to justify indiscriminate bombing on Yemen city population ?
  • 7 days How can Trump 'own' a trade war?
  • 7 days China, U.S. Hold 'Productive' Trade Talks In Beijing
  • 2 hours Some Good News on Climate Change Maybe
  • 6 hours Wonders of Shale- Gas,bringing investments and jobs to the US
  • 7 hours "We cannot be relying on fossil fuels to burn as an energy source at all in our country" - Canadian NDP Political Leader
Alt Text

The 2 Energy Giants Reshaping The Middle East

Typical crude oil producers such…

Alt Text

Russia Hints At OPEC+ Deal Exit

Russian policymakers have shown themselves…

Alt Text

Bearish EIA Report Keeps Oil Prices Down

Oil prices got a bearish…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

Saudi Arabia’s Delicate Baku Balancing Act

OPEC (plus Russia) is meeting in Baku this weekend, and the Saudis are playing a delicate balancing act—not only disappointed in Trump’s less aggressive tactics against Iran, but also disappointed in the effects of the attack the Kingdom orchestrated against Qatar, which has managed to survive the embargo quite well and is now threatening to one-up the Saudis by getting into the US shale patch and by bumping up its already massive LNG offerings. All of this has an effect on what the Saudis end up doing to influence oil prices. They aren’t feeling particularly generous with Trump, who would like to keep oil prices low. The Saudis need about $80 a barrel to fund their economic diversification, pay for the war in Yemen and all the expensive PR that is necessary to get MBS over the very badly executed murder of a critic, journalist Jamal Khashoggi. As far as assassinations go, that was probably the most expensive one the world has ever seen. On Wednesday, WTI hit $58/barrel on shrinking US inventories, and Brent’s been hovering around $67/barrel. OPEC has never been more geopolitical than it is today, and geopolitics will figure heavily into this weekend’s meeting.

The Saudis have already announced plans to cut crude oil exports in April to below 7 million barrels per day (bpd), while keeping output well below 10 million bpd. Aramco’s oil allocations for April are 635,000 bpd below requests made by refiners and clients of Saudi crude.

Oil…

Trending Discussions


Leave a comment
  • Tripp Mills on March 21 2019 said:
    I love seeing all of the beautiful photos and all of the leadership Saudi Arabia shows across the board in the Energy Industry as well as the United States (too bad we are killing ours and that has to stop!) Good Luck and Best Wishes in helping keep everyone supplied with Oil and Energy for the next several hundred years, thousand years (so anyone complaining about a $100 price tag on oil - imagine a dark dark lightless future!

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News