• 3 minutes This Battery Uses Up CO2 to Create Energy
  • 5 minutes Shale Oil Fiasco
  • 9 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 12 minutes Historian Slams Greta. I Don't See Her in Beijing or Delhi.
  • 5 hours Governments that wasted massive windfalls
  • 19 mins Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 2 hours Let’s take a Historical walk around the Rig
  • 16 hours Trump has changed into a World Leader
  • 5 hours We're freezing! Isn't it great? The carbon tax must be working!
  • 4 hours Here is Why People Lose Money Trading Natural Gas
  • 1 day Beijing Must Face Reality That Taiwan is Independent
  • 2 days Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 2 hours US Shale: Technology
  • 7 hours 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 13 hours Trump capitulated
  • 2 days Yesterday POLEXIT started (Poles do not want to leave EU, but Poland made the decisive step towards becoming dictatorship, in breach of accession treaty)

Breaking News:

Brazil Decides Against Joining OPEC

U.S. Energy Secretary Perry To Saudis: We Want Stable Supply And Prices

Rick Perry

U.S. Secretary of Energy Rick Perry reiterated the “need for stable supply and market values” during talks with Saudi Energy Minister Khalid Al-Falih in Saudi Arabia, the U.S. Department of Energy said on Monday, in a first U.S.-Saudi meeting after Friday’s OPEC+ deal to cut oil production again.

Neither U.S. departments, nor President Donald Trump have officially commented yet on the agreement of OPEC and its non-OPEC partners to cut a total of 1.2 million bpd of their oil production starting in January 2019 for an initial six-month period with an option to review in April.  

Energy Secretary Perry made a two-stop Middle East visit in the weekend, and held bilateral meetings with al-Falih, and the CEO of Saudi Aramco and other energy industry stakeholders operating in Saudi Arabia.

“During the talks, the Secretary expressed that the United States continues to view Saudi Arabia as an important ally, particularly in the energy space. Perry and Al-Falih spoke about last week’s OPEC announcement of production cuts and Perry reiterated the need for stable supply and market values. They also discussed the 2018 increase in Saudi oil production and the impact it has had on world markets in the wake of the Iran sanctions,” the U.S. Department of Energy said.

Perry and al-Falih also continued dialogue on a possible agreement between the U.S. and Saudi Arabia on nuclear energy for civil purposes.

Cooperation with the United States in the field of nuclear power is only possible for countries that sign the so-called 123 agreement, which stipulates a clear distinction between using nuclear technology for civil and for military purposes, and binds the signee to utilizing the technology for civil purposes only.

Before landing in Saudi Arabia, Secretary Perry was in Qatar, which said just last week that it was quitting OPEC as of January.

“Secretary Perry advocated for the expansion of joint partnerships with the United States as Qatar seeks to grow its LNG operations around the world,” the Department of Energy said.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage


Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play