looking beyond borders

foreign policy and global economy

Archive for the tag “Saudi Arabia”

$10/Barrel Oil Is Possible: Can American Energy Independence Survive The 2020 Oil War?

President Trump has suggested America still has “a lot of power over the situation” and could yet find a middle ground. The U.S. leader will need all his famed dealmaking ability and more though to pull off what could be a deal of the century with Saudi Arabia, to keep U.S. energy independence and the shale industry alive.

Read Here – The National Interest

Kremlin Confident It Can Win Oil Price War

Despite the shock fall in oil prices, Russian officials remain confident that stepping away from the OPEC deal was a wise decision and largely blame their OPEC partner for refusing to reach a compromise. According to an official statement, the Russian side offered to preserve the production cuts already in place until the second half of 2020 “in order to better understand the impact of the coronavirus on the global economy and oil demand.” However, the statement continues, “our OPEC partners decided to increase oil production and start a fight for market share.”

Read Here – Asia Times

Oil Takes Biggest Daily Dive In Over A Decade As Russia, OPEC Split

The split between OPEC and Russia revived fears of a 2014 oil price crash, when Saudi Arabia and Russia fought for market share with U.S. shale oil producers, which have never participated in output-limiting pacts. OPEC was pushing for an additional 1.5 million barrels per day (bpd) of cuts until the end of 2020.

Read Here –  Reuters

The Chastened Kingdom

On December 1, Saudi Arabia officially assumed the presidency of the G-20. The task of leading the high-profile economic forum, which rotates annually among member countries, is usually more a matter of form than of substance. But for Saudi Arabia—the group’s only Arab member—the stakes are high.

Read Here – Foreign Affairs

Mohammed bin Salman Is Having a Fire Sale Of His Political Power

The two most important facts about Aramco are now directly in tension with one another. It has been central to the power of the House of Saud precisely because the royal family has had it under tight control. At the same time, Crown Prince Mohammed bin Salman has made it central to his plan to transform the country, known as Vision 2030, by promising to sell shares of the company to investors—thus giving them greater control over it.

Read Here – Foreign Policy

Modi Says India Values Saudi’s Vital Role

On the occasion of his visit to Saudi Arabia, his second in three years, India’s Prime Minister Narendra Modi said  that the two countries have been working together within the G20 to reduce inequality and promote sustainable development.
Modi said with the signing of an agreement on a Strategic Partnership Council, already robust and deep bilateral ties in various fields will only strengthen further. Saying stable oil prices are crucial for the growth of the global economy, he praised the Kingdom’s role as an important and reliable source of India’s energy requirements.

Read Here – Arab News

Also Read: MBS’s Reform-Driven Saudi Offers India Room To Strengthen Bilateral Ties

The Unwanted Wars

The war that now looms largest is a war nobody apparently wants… Iran has no interest in a wide-ranging conflict that it knows it could not win. Israel is satisfied with calibrated operations in Iraq, Lebanon, Syria, and Gaza but fears a larger confrontation that could expose it to thousands of rockets. Saudi Arabia is determined to push back against Iran, but without confronting it militarily. Yet the conditions for an all-out war in the Middle East are riper than at any time in recent memory.

Read Here – Foreign Affairs

Five Reasons Why The Saudi Oil Attacks Won’t Lead To War With Iran

Almost immediately after the attack on a major Saudi Aramco oil production facility in Abqaiq, the first fingers were pointed at Iran…As Saudi oil production halved and U.S. gasoline prices spiked, President Donald Trump raised the stakes. He warned that the United States was “locked and loaded”  following identification of the perpetrator. This led numerous outlets to claim that a U.S.-Iran war is likely or even inevitable. Fortunately, there are five reasons why it’s not.

Read Here – The National Interest

U.S. Blames Iran For Saudi Oil Attack, Trump Says ‘Locked And Loaded’

U.S. President Donald Trump said the United States was “locked and loaded” for a potential response to the attack on Saudi Arabia’s oil facilities, after a senior U.S. administration official said Iran was to blame. Trump also authorised the use of the U.S. emergency oil stockpile to ensure stable supplies after the attack, which shut 5% of world production and sent crude prices soaring more than 19% in early trade on Monday, before moderating to show a 10% gain.

Read Here – Reuters

Also Read: Saudi oil facility attacks may have come from Iraq

Iran Rejects US Accusation Over Drone Attacks On Aramco Plants

Iran has dismissed accusations by the United States that Tehran was behind drone attacks that set ablaze two major Saudi Aramco oil installations, as Saudi Arabia raced to restore operations at the damaged facilities. Yemen’s Houthi rebels claimed responsibility for Saturday’s assault on Abqaiq – the world’s largest oil processing plant – and the Khurais oilfield. The pre-dawn strikes knocked out more than half of crude output from the world’s top exporter.

Read Here – Al Jazeera

Post Navigation

%d bloggers like this: