Stagnant Production

Oil prices have reached a 6 year high following the end of discussion between OPEC and other nations known for oil production. They reached a conclusion that there will not be an increase of 400,000 barrels per day. Failure to reach an agreement is based off of a split in OPEC between the United Arab […]

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Saudi’s Want to Increase Oil Production?

After 2020’s unpredicted decline in oil prices and subsequent response by OPEC+ to cut oil production as means to buoy oil prices, the world’s largest exporter Saudi Arabia, plans to reverse its position and increase its production in the coming months. This comes as WTI oil prices have traded to as low as negative $40/barrel […]

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Production Cuts Start Early for These Two

OPEC+ came to an agreement earlier this month to institute record-breaking production cuts of nearly 10 million barrels per day. The production cuts were set to take effect on May 1st, but some members have taken it upon themselves to start earlier. Kuwait and Saudi Arabia have both made the decision to start scaling back […]

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A New Number One

Saudi Aramco had its long-awaited initial public offering (IPO) last week debuting on the Tadawul, Saudi Stock Exchange at a valuation of $1.88 trillion.  Aramco’s public debut made it the world’s largest IPO ever, toppling the previous record holder Alibaba in 2014 when they raised $25 billion.  When the market closed today in the capital […]

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The Cost to Consumers

The events over the weekend in Saudi Arabia are causing concerns throughout the nation.  The oil installations attacked resulted in the removal of six percent of daily world consumption, which will have an impact on motorists and consumers in the United States as early as today.  The attack on Saudi Aramco’s Abqaiq plant in Buqyaq […]

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WHO RUNS THE WORLD? OPEC

The world of crude oil is buzzing right now, as OPEC is currently meeting in Vienna, with a goal of reaching an agreement over production levels within the next 6 months. Oil prices dropped over 3 percent on Thursday as OPEC agreed to cut production. However, the cartel is waiting to decide on the actual […]

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The Latest News from the Middle East

The geopolitical climate in the Middle East continues to intensify as the Saudi government is preparing to admit that Washington Post columnist Jamal Khashoggi was killed in the Saudi consulate in Turkey two weeks ago.  President Trump has threatened to impose severe punishment on Saudi Arabia if it is proved they are behind the murder […]

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