At the heart of South Korea’s Onsan Refinery lies a street called “A.I. Naimi Road,” an homage to Saudi Arabia’s oil minister. The reason: state-owned Saudi Arabian Oil Co. holds a 65 percent stake in the complex. Read Here – Bloomberg
The failure of the Organization of Petroleum Exporting Countries to reach any meaningful agreement at their meeting in Vienna on Friday confirmed that the historic storm besetting the oil market has markedly reduced this once-powerful group’s effectiveness and influence. Read Here – Bloomberg
As President Vladimir Putin tries to restore Russia as a major player in the Middle East, Saudi Arabia is starting to attack on Russia’s traditional stomping ground by supplying lower-priced crude oil to Poland. Read Here – Bloomberg View
At the end of the day, no swing producer controls the fate of today’s oil prices. A sustained price recovery requires a healthier global economy that combines faster inclusive growth and greater financial stability. And this will not occur quickly, especially given the policy shortcomings in both advanced and emerging countries. Read Here – Project […]
Governments typically make big bets either when they are overly confident or increasingly worried. Saudi Arabia’s oil strategy doesn’t reflect confidence. With the frail health of King Abdullah, possible succession rivalries, domestic pressures for change, conflict in neighboring Yemen, and the many challenges posed by ISIS, Riyadh may be in for more than it bargained for. Read Here – Foreign Affairs
Brent crude was projected by Wall Street analysts to average as much as $116 a barrel by the end of the year. Now, with violence escalating in Iraq, how far the price will rise has become anyone’s guess. Read Here – Bloomberg
the shale oil bonanza in the United States is actually a good thing for Riyadh. Over the last few decades, oil markets have experienced sharp price fluctuations, particularly with growing demand for oil in the emerging Asian economies. Read Here – Foreign Affairs
As U.S. energy exports increase, the United States should think carefully about the kind of exporter it wants to be, promoting free trade and investment wherever possible, with no political strings attached. If it does, it could transform the world energy market and, in turn, reap vast political and economic rewards. Read Here – Foreign […]
Russia has consummated some huge energy deals with China in recent weeks. These deals are – or at least are being advertised as – major steps forward in the Russo-Chinese energy relations, Russia’s pivot to Asia – which uses big energy sales to upgrade its influence and standing – and the development of the energy […]
Current trends in the global energy market don’t look good for Saudi Arabia. First, the International Energy Agency projected in November 2012 that the United States will surpass the Gulf petrogiant as the world’s top energy producer by 2020. Then, last week, it revealed that North America, buoyed by the rapid development of its unconventional oil industry, […]
