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Tag Archives: Saudi Arabia

Saudi state claws back unspent money as finances tighten

RIYADH/KHOBAR, Saudi Arabia – Saudi Arabia’s finance ministry, seeking to cut waste as state revenues shrink because of low oil prices, is telling government bodies to return unspent money which they were allocated in this year’s budget, sources familiar with the policy told Reuters. Over the past several years of sky-high oil, government bodies in the world’s top oil exporting ...

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Oil-dependent Saudi, Norway sovereign funds selling European shares – report

LONDON – The three biggest sovereign wealth funds of oil-producing countries have been selling European equity holdings since May, a study showed on Monday, another sign of petrodollars being withdrawn from world markets. Asian funds have meanwhile continued to add European equities, according to the data from Nasdaq Advisory Services, which provides analysis on shareholder and investor activity. Since May, ...

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Oil market needs an anchor, Saudi adviser says

KUWAIT – The lack of a clear leader or “anchor” in the global oil market is fueling uncertainty and leading to sharp swings in crude prices, but this uncertainty is unlikely to continue for long, a senior Saudi oil adviser said. The comments by Ibrahim al-Muhanna suggest that Saudi Arabia and the rest of OPEC understand that they are unable ...

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Saudi pricing shows oil volatility in action amid oversupply: Russell

Destination Saudi Arabia . Riyadh on the map shown by pin

(The opinions expressed here are those of the author, a columnist for Reuters.) Saudi Arabia’s decision to lower prices for oil loading in November shows that the battle for market share in an over-supplied Asian crude market is far from over. Saudi Aramco, the kingdom’s state-owned oil company, cut its official selling price (OSP) for its main Arab Light grade ...

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Breaking the oil and gas bust

CARLSBAD — The boom town: where old meets new and where the small town meets big industry. For the last seven years Carlsbad located in the Northwest portion of the Permian Basin, has been a boomtown. The Permian Basin — one of the largest oil and gas regions in the U.S. — stretches across most of Southeast New Mexico and ...

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Oil production in US seen tumbling due to price drop

PARIS — Oil supply from the United States, Russia and other non-OPEC countries is expected to drop sharply next year — possibly the steepest decline since the Soviet Union collapsed — because of low prices, the International Energy Agency forecast Friday. In its latest monthly report, the IEA says non-OPEC production is expected to drop nearly half a million barrels ...

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Take advantage of the cheaper oil and gas

The fall of oil and natural gas prices is a boon to U.S. consumers and the economy. Americans should enjoy the break while it lasts. Lower prices at the gasoline pump and in utility bills puts more money in everyone’s pocket, which boosts spending and the overall commerce. Considering the slow pace of America’s economic recovery, the market needs all ...

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