By Tsvetana Paraskova for Oilprice.com – All Russian oil companies have confirmed they can raise production to the levels before the pandemic if the alliance chooses to proceed with monthly increases in output, Russian Deputy Prime Minister Alexander Novak said on Monday.
Saudi Arabia's Foreign Minister Prince Faisal al Saud said in a newspaper interview published Saturday in Buenos Aires' daily Infobae that “Argentina is our friend and ally, that will not change at the IMF.” The diplomat thus did not rule out a handout to reinforce Argentina's Central Bank's reserves.
By Tsvetana Paraskova for Oilprice.com – Led by production increases in Saudi Arabia and Russia, the OPEC+ group raised its October oil output by 490,000 barrels per day (BPD), TASS news agency quoted the International Energy Agency as saying in its monthly report on Tuesday.
The world's leading oil-producing countries agreed on Sunday to continue with the gradual increase of output, 400,000 barrels per day, beginning August first, to help global economic recovery following the pandemic, according to a release from the group's meeting in Vienna.
Swiss prosecutor is probing whether the late Saudi king broke any laws when he transferred US$100 million to a fund controlled by fellow royal Juan Carlos I of Spain in 2008.
OPEC and allies led by Russia postponed talks on oil output policy for 2021 to Thursday, sources said on Monday as key players still disagreed on how much oil they should pump amid weak demand due to the coronavirus pandemic.
By Gwynne Dyer – The only officials present were American and Saudi,” tweeted the Saudi Arabian foreign minister, Prince Faisal bin Farhan Al Saud, but he was lying. Israeli Prime Minister Benjamin Netanyahu really did fly in to Saudi Arabia to spend a few hours with Crown Prince Mohammed bin Salman and US Secretary of State Mike Pompeo.
Mask-clad Muslims circled Islam's holiest site along socially distanced paths on Sunday, as Saudi authorities partially resumed the year-round umrah pilgrimage amid extensive health precautions after seven-month coronavirus hiatus.
After a ten-year hiatus, the South African Department of Agriculture announced the opening of the market for Paraguayan abattoirs to export beef and meat products. According to the Paraguayan foreign ministry, the reopening of this market by the African country was possible through joint work with the Animal Health and Quality Service (Senacsa).
Saudi Arabia said on Monday it had asked oil giant Aramco to cut an additional one million barrels per day from June, to support prices that have crashed during the coronavirus crisis.