Despite the fiscal challenges, Saudi Arabia appears steadfast in its commitment to Vision 2030.
Saudi Arabia’s role as a stabilizer within OPEC comes at a cost and Saudi Arabia may have to commit to longer and deeper output cuts.
Saudi Arabia’s balancing act between maintaining OPEC stability, sustaining oil revenues, and investing in non-oil sectors is a complex endeavor.
Chevron’s biggest rival, ExxonMobil, however, has arbitration proceedings in Guyana’s Stabroek oil block that may prevent merger
Financial details of Shell’s vast oil and gas trading business are some of the company’s closest-held secrets.
Documents in a lawsuit filed by a former employee, however, revealed its U.S. crude trading regularly earns around US$1 billion every year.
Oil prices continue to trade in a very narrow bandwidth with ICE Brent still hovering around the $83 per barrel mark, with traders anticipating potentially impactful US economy data coming in later this week – first the US personal consumption expenditures readings, followed up by European inflation figures and Chinese PMI developments reflecting the Chinese Lunar New Year.