Top oil exporter Saudi Arabia has boosted supply to 10.70 million barrels per day in June, close to a record high, a Reuters survey found on Friday, a sign the kingdom wants to make up shortfalls elsewhere in the group and moderate prices. That is up 700,000 bpd from May and means oil supply from the Organization of the Petroleum Exporting Countries will be higher in June despite a drop in Iranian exports and outages in Libya, according to the survey’s preliminary results. “The Saudi number for June will be very, very high,” an industry source who tracks the kingdom’s oil output said. “Surprisingly high.” The Saudi move is a clear indication it wants to moderate oil prices - which this year hit $80 a barrel for the first time since 2014, prompting consumers like the United States to raise concerns - and to make up shortfalls in other OPEC members. OPEC and a group of non-OPEC countries agreed on Saturday that they would return to 100 percent … [Read more...] about Saudi Arabia boosts oil supply close to record high in June
WASHINGTON, Jun 29 (PRIME) -- Russia and Saudi Arabia will be able to raise their oil production to compensate the Iranian oil that may leave the market due to the U.S. sanctions, U.S. Energy Secretary Rick Perry said late on Thursday in a news conference during the World Gas Conference. Earlier this week, the U.S. State Department State called for all U.S. allies to stop buying oil from Iran. “I am comfortable that Saudi Arabia is going to be able to increase their production to... 11 million barrels per day going forward, and that Russia will be able to increase their production, so the worldwide crude market does have some stability,” Perry said. End 29.06.2018 08:27 … [Read more...] about US sees Russia, Saudi Arabia compensating Iranian oil
Malaysia has decided to withdraw its troops from Saudi Arabia in order to maintain its neutrality in the region, the southeastern Asian country's new defense minister said Thursday. Sabu said the presence of Malaysian troops in Saudi Arabia risks dragging the country into a regional conflict. Former Prime Minister Najib Razak and his Barisan Nasional (BN) administration first deployed troops to the kingdom in 2015 to facilitate the evacuation of Malaysian nationals from Yemen. Sabu clarified that Malaysian troops "have never been involved" in military operations in Yemen, where Saudi Arabia launched an intervention along with several other Arab nations against Iran-backed Houthi rebels inside the country. "Malaysia has always maintained its neutrality. It has never pursued an aggressive foreign policy," Sabu said. Last week, Sabu said the new government would "reconsider" Najib's decision to deploy troops. Sabu assumed office as defense minister last month, after shock election loss of … [Read more...] about Malaysia to withdraw troops from Saudi Arabia to maintain neutral role
As roles requiring an ultra-sensitive approach to diplomacy go, being the editor of a Middle Eastern fashion magazine has to be up there. If you don’t believe me, just look at the recent furore surrounding the cover of Vogue Arabia, which showed Princess Hayfa bint Abdullah Al Saud, the daughter of the late king, posing glamorously in the driving seat of a convertible. The cover was designed to celebrate the lifting of the ban on Saudi women driving but came out at a time when many of the activists who had fought for the right to drive were imprisoned. The latest issue of Harper’s Bazaar Arabia also focuses on Saudi Arabia, but takes a different slant, introducing Taleedah Tamer, a 17 year-old... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week Register for … [Read more...] about Could Taleedah Tamer become Saudi Arabia’s first supermodel?
Saudi Arabia has proposed to raise the collective oil production of OPEC + participants by 600-800 thousand barrels a day, Financial Times reported. The proposal is not final, but it is the basis to discuss the level of production between the OPEC countries and non-OPEC participants at the June 23 meeting in Vienna. According to the source, the negotiations are expected to be held with Russia as well. Saudi Arabia’s energy minister Khalid al Falih said on Wednesday that it was time for the group to “change course and respond to the market.” The participants of OPEC and non-OPEC countries are expected to determine the new goals of this deal during the meeting on June 23. Armenia News - NEWS.am ! This text available in Հայերեն and Русский Print … [Read more...] about Saudi Arabia to increase OPEC+ production by 600-800 thousand b/d