Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman participated in a virtual meeting last Sunday, during which they agreed to increase oil production by 188,000 barrels per day next month.
This marks the fourth consecutive month that OPEC+ has increased its production, “despite the…
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Saudi Arabia
Saudi Arabia’s oil production falls by 600,000 barrels per day
The Saudi Arabian Ministry of Energy announced last week that the country has reduced its total oil production capacity by 600,000 barrels per day due to the conflict in Iran, which has led to the suspension of operations at some of the…
OPEC+ announces stable crude oil supply until April
According to an announcement issued by OPEC+ this Sunday, January 4, the oil alliance led by Saudi Arabia and Russia will maintain a stable crude oil supply at least until April.
The group of oil-producing countries announced the measure…
OPEC+ agreed to increase production to 137,000 barrels per day in October
Starting next October, the Organization of the Petroleum Exporting Countries (OPEC+) will increase production to 137,000 barrels per day, according to eight members at a virtual meeting last Sunday, September 7.
Thus, Saudi Arabia, Russia,…
OPEC+ to increase crude oil production to 548,000 barrels per day
Crude oil pumping will increase to 548,000 barrels per day starting August 1, according to a decision by OPEC+.
The measure was agreed upon by 22 members of the Saudi-led organization through a virtual meeting last Saturday, July 5.
In an…
The United States and Saudi Arabia sign the largest defense and trade agreement
At the start of his first international tour, the US president Donald Trump signed the largest defense trade deal with Saudi Arabia, worth €127 billion.
The president arrived in Riyadh on Tuesday, May 13, to establish agreements in…
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,…
Putin sent delegates to Riyadh to negotiate with the US and Ukraine to end the war
This Tuesday will be the meeting scheduled by the Kremlin between the delegates of Russia and the United States in Riyadh, Saudi Arabia, to begin negotiations that will end the war with Ukraine.
The envoys of each country will discuss…
Saudi Arabia has the largest automated metro in the world
Saudi Arabia inaugurated the new metro in the city of Riyadh at the beginning of December. A real display of technology, as it runs driverless for 176 kilometers, six lines and 85 stations.
The company RATPDev is in charge of this work,…
OPEC+ postpones oil production increase to January 2025
The decrease in oil demand by China and the United States is said to be one of the main reasons that has led the Organization of the Petroleum Exporting Countries (OPEC) to announce that it is postponing an increase in production of 180,000…
Saudi Arabia did not renew the petrodollar agreement with the United States
Saudi Arabia decided not to renew the petrodollar agreement it had had with the United States for 50 years and which expired on June 9.
The country located in Western Asia did not renew the agreement through which it sold oil in US…
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…