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  1. Saudi Oil Sector Creaking Amid Heavy Opec Cuts And Summer Demand

    ...nce 2017, according to the latest data released by Jodi covering the first half of the year. This is hardly a surprise considering that Saudi Arabia’s crude production has itself been cut to multi-year lows through Opec’s efforts to rebalance global markets. Saudi Arabia’s reported crude pr...

    Volume: 62
    Issue: 34
    Published at Fri, 23 Aug 2019

  2. GCC Currencies: To Peg Or Not To Peg?

    ...untries’ currencies are pegged to the dollar (in Kuwait’s case as part of a currency basket in which the US currency is the key component), whilst all except Oman and Bahrain are members of Opec. SAUDI STRETCHED Saudi’s budget deficit of $19.4bn in H1 2017 was covered from a financing package of SR...

    Volume: 60
    Issue: 34
    Published at Fri, 25 Aug 2017

  3. Oil Market Bulls & Bears In Pre-Algiers Stand-Off

    ...ec figures. Most analysts now see the global surplus of supply over demand continuing well into 2017. And of course inventories are already at record levels. Having fallen by 20mn barrels from May’s record of 540mn bl, US crude stocks unexpectedly rose again last week to stand at 524mn barrels on 19 Au...

    Volume: 59
    Issue: 34
    Published at Fri, 26 Aug 2016

  4. US Data: Reading The Runes

    ...ilst output from US shale formations is still falling, September’s projected fall of 85,000 b/d (to 4.47mn b/d) is the lowest this year. Meanwhile, the EIA’s forecasts for 2016 and 2017 in its latest Short Term Energy Outlook are up by 120,000 b/d and 110,000 b/d on those made the previous month (see ch...

    Volume: 59
    Issue: 34
    Published at Fri, 26 Aug 2016

  5. Saudi Arabia Taps Service Companies for Oil Capacity Upgrades

    ...cline further by 2017. Iraq, which had been expected to be the single largest contributor of additional supply during the current decade, has recently lost large tracts of territory in the north and northwest to Islamist jihadists. And although output in the south has so far been unaffected by th...

    Volume: 57
    Issue: 34
    Published at Fri, 22 Aug 2014