OPEC

A plenary session at the Business & Climate Summit in Paris this week. (Image via Business & Climate Summit flickr stream)

Saudi oil minister Ali al-Naimi actually didn’t contradict himself in an appearance on a panel at the Business & Climate Summit in Paris on Thursday. But it might have seemed like it, given some of the headlines that popped up on the Web. “Saudi Oil Minister Says World Can’t Abandon Fossil Fuels,” the Wall Street Journal… Keep reading →

Life In Riyadh

Given Tehran and Hezbollah’s long history of targeting Saudi interests, their recent implicit threats to the kingdom should be taken seriously. On April 27, the head of Iran’s Islamic Revolutionary Guard Corps (IRGC), Maj. Gen. Mohammad Ali Jafari, lashed out at Saudi Arabia and its recent military intervention in Yemen, accusing the “treacherous Saudis” of… Keep reading →

A close-up on a screen shows the last si

Oil prices will remain below the psychologically important $100-a-barrel mark until at least 2025, according to a draft report by the Organization of the Petroleum Exporting Countries (OPEC), seen byThe Wall Street Journal. In its most optimistic scenario, OPEC, which represents 12 oil-producing countries, forecast that oil will sell for around $76 per barrel in… Keep reading →

Kuwait Promises To Increase Oil Production In Case  Of War

The latest restructuring in the Saudi hydrocarbon sector could mean new policies for the world’s largest oil exporter. On May 1, two days after making radical changes in the kingdom’s royal succession order and senior government posts, Riyadh announced that governance of the state-owned oil company Saudi Aramco has been restructured. As with the previous… Keep reading →

Life In Riyadh

As Prince Muhammad bin Salman’s proactive approach to regional affairs becomes clearer, the novice defense minister could lead the kingdom to overreach in Yemen. Earlier today, Saudi Arabia announced that it has ended its airstrikes in Yemen because the heavy weapons and ballistic missiles threatening the kingdom have been destroyed. The fighting had appeared to… Keep reading →

The Growing Economy Of Dubai

The Assad regime and Hezbollah back Iran’s view of the announced parameters, but most other Arab officials and commentators are openly skeptical. Most analysts have focused on Israeli and American, rather than Arab, reactions to the Iran nuclear framework agreement announced last week. Yet there were significant and highly divergent reactions across the Arab region… Keep reading →

As Default Deadline Nears, Congress Continues Debate Debt Ceiling Plan

Insight for Industry – U.S. Crude Oil Export Restrictions Cause Refining Mismatch and Light Oil Price Discount The dramatic increase in domestic oil production over the past decade – facilitated by drilling technology improvements – has rekindled the crude oil export debate. Allowing crude oil exports would provide an additional market for light crude derived… Keep reading →

Iraq's Minister of Oil and President of

“The potential of air strikes on Yemen by Saudi Arabia, the biggest oil producer in OPEC, could throw world oil markets into volatility.” While Yemen contributes less than 0.2 percent of global oil output, its location puts it near the center of world energy trade. The nation shares a border with Saudi Arabia, the world’s… Keep reading →

U.S. And Saudi Representatives Discuss Energy Markets

Saudi Arabia’s oil minister, Ali al-Naimi, recently said again that OPEC will not take sole responsibility for supporting global oil prices. Since the collapse in oil prices this past year, OPEC has attempted to convince non-OPEC oil producers to cooperate on production and prices, but with little success. “Today the situation is hard. We tried, we… Keep reading →

Markets Rise On Economic Data

Industries Are Critical of Proposed Stricter Ozone Standards The Hill: Business groups are waging war on the Obama administration’s proposal to reduce ozone pollution, arguing the regulations would cripple the U.S. economy. In order to comply with the proposed rule, many areas of the country would have to all but shut down land development and… Keep reading →

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