Saudi Energy Minister Khalid al-Falih said Russia was the only oil exporter still undecided on the need to extend an output deal between OPEC and its allies until the end of the year
Falih said OPEC is guided by two main principles: “One to keep the market in its direction towards balancing and inventories back to normal level. And two to be responsive to market needs. We will strike the right balance I am sure.”
Iran will not allow any country replace its oil sales in the global market, the Foreign Ministry said on Thursday
Riyadh would cut its exports to 7.2 million barrels per day in January.
BAGHDAD: Saudi Oil Minister Khalid al-Falih made a high profile visit to Iraq on Saturday, calling for increased economic cooperation and praising existing coordination to boost crude oil prices. In a speech at the opening of the Baghdad International Exhibition, Falih said cooperation between Iraq and Saudi Arabia contributed to “the improvement and stability we are seeing in the oil market”. Falih is the first Saudi official to make a public speech in Baghdad for several decades. The two countries began taking steps…
RIYADH: Saudi Arabia has appointed Khalid al-Falih, chairman of the state oil giant Saudi Aramco, as its new energy minister, replacing Ali al-Naimi, who had held the post since 1995.
RIYADH: Saudi King Salman bin Abdulaziz on Wednesday sacked his younger half brother as crown prince and appointed his nephew, Deputy Crown Prince Mohammed bin Nayef, as the new heir apparent, state television said.