Saudi Energy-minister

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Saudi Energy-minister - Total results - 4
Record oil output cuts fail to make waves as coronavirus shreds demand, sends stockpiles soaring
Business

Record oil output cuts fail to make waves as coronavirus shreds demand, sends stockpiles soaring

The minimal impact on oil prices from a global deal for record output cuts showed that oil producers have a mountain to climb if they are to restore market balance

OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic; cut unprecedented deal
Business

OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic; cut unprecedented deal

OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic; unprecedented deal made with oil producing nations

Russia and Saudi Arabia agree to extend OPEC deal aimed at curbing oil production for six to nine months
World

Russia and Saudi Arabia agree to extend OPEC deal aimed at curbing oil production for six to nine months

Russia has agreed with Saudi Arabia to extend by six to nine months a deal with OPEC on reducing oil output, said Russian President Vladimir Putin. Saudi Energy Minister Khalid al-Falih said on Sunday that the deal would most likely be extended by nine months and no deeper reductions were needed. The Organization of the Petroleum Exporting Countries, Russia and other producers, an alliance known as OPEC+, meet on 1 and 2 July to discuss the deal, which involves curbing oil output by 1.2 million barrels per day.

Power struggle in Venezuela could hit oil market, says Saudi Arabia; Latin American nation sits on world's largest crude reserves
World

Power struggle in Venezuela could hit oil market, says Saudi Arabia; Latin American nation sits on world's largest crude reserves

The crisis in OPEC member Venezuela, where the president is locked in a power struggle with the opposition, could impact the oil market, the Saudi energy minister said on Monday.