Browsing Tag

Saudi Arabia

OPEC+ members agreed to increase production

The recent decision by eight OPEC+ members to maintain the increase in crude oil production in May led prices to extend their previous losses. On Thursday, April 3, Russia, Saudi Arabia, the United Arab Emirates, Kuwait, Iraq, Algeria,…

US overtakes Saudi Arabia in oil production

The US already produces 40% more oil than Saudi Arabia, and the gap continues to widen. This situation, which seemed unimaginable less than 10 years ago, has become a reality thanks to the success of fracking (hydraulic fracturing) and…

Russia is the main supplier of oil to China

Russia became the main oil supplier to China in 2023, overshadowing Saudi Arabia's performance in this matter. Likewise, last year, Chinese imports of fuel oil to Russia reached a record of 9.6 million tons. For its part, “Malaysia was the…

The BRICS approve the entry of new members

This Thursday, during the BRICS meeting in South Africa on the occasion of the group's fifteenth summit, the entry of new members was announced: Iran, Saudi Arabia, United Arab Emirates, Argentina, Egypt and Ethiopia. The extension of the…