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OPEC+ set to agree 4.3mln bpd in output cuts -JP Morgan | ZAWYA MENA Edition

OPEC+ set to agree 4.3mln bpd in output cuts -JP Morgan | ZAWYA MENA Edition:OPEC and Russia this week are likely to agree to cut oil output by about 4.3 million barrels per day (bpd), JP Morgan analysts said in a note on Tuesday, a big increase on their recent cuts of 1.7 million bpd but only a fraction of the demand lost due to the new coronavirus. * Despite U.S. President Donald Trump's calls for cuts of 10 million bpd or more, OPEC+ are expected to agree on a "soft cut" of around 4.3 million...
Tags: Travel, Washington, Iraq, Russia, Opec, United Arab Emirates, Jp Morgan, Moscow, Donald Trump, Kuwait, Riyadh, Rupert Neil Bumfrey, Christyan Malek


#Kuwait’s Wealth Fund on Standby as Oil Price, Virus Hit Finances - Bloomberg

Kuwait’s Wealth Fund on Standby as Oil Price, Virus Hit Finances - Bloomberg:Kuwait’s government has discussed the possibility of turning to the sovereign wealth fund for a loan should the oil-price slump and the mounting cost of fighting the coronavirus pandemic deplete its cash reserves.The option of a loan or investment by the Future Generations Fund is one of several available as a way to boost the Gulf nation’s finances during a difficult time, according to a person familiar with the matter...
Tags: Travel, Saudi Arabia, Russia, Bloomberg, Kuwait, Gulf, Rupert Neil Bumfrey, Kuwait Investment Authority Kuwait


Russia confirms its participation in OPEC+ meeting on April 9 - Reuters

Russia confirms its participation in OPEC+ meeting on April 9 - Reuters:Russia on Tuesday confirmed its participation in the OPEC+ meeting of leading oil producers set for April 9, a spokeswoman for energy ministry told Reuters.The conference, due to be held via a video link as a precautionary measure against the coronavirus, had been initially scheduled for April 6 but was delayed “to allow more time for negotiations”, according to the OPEC sources. [Author: [email protected] (Rupert Neil ...
Tags: Travel, Russia, Opec, Reuters, Rupert Neil Bumfrey


Oil higher as hopes build for production cut amid coronavirus threat to demand - Reuters

Oil higher as hopes build for production cut amid coronavirus threat to demand - Reuters:Oil rose on Tuesday amid hope that the world’s biggest producers of crude will agree to cut output as the coronavirus pandemic crushes demand, even as analysts warn a global recession may be deeper than expected and big production cuts will be needed. Brent crude LCOc1 was up by 80 cents, or 2.4%, at $33.85 a barrel by 0657 GMT after falling more than 3% on Monday. West Texas Intermediate (WTI) crude CLc1 wa...
Tags: Travel, Saudi Arabia, Russia, United States, Reuters, Rupert Neil Bumfrey


Global Oil Powers Grope Their Way Toward Historic Output Deal - Bloomberg

Global Oil Powers Grope Their Way Toward Historic Output Deal - Bloomberg: The world’s largest oil producers are groping their way toward a deal to mitigate the devastating impact of the coronavirus crisis on their industry. The challenge now is to nail down numbers everyone can live with.Ministers and diplomats will spend the next two days talking about who’s willing to cut production, and by how much. The most important contributions will come from oil’s trio of big powers: Saudi Arabia, Rus...
Tags: Travel, Saudi Arabia, Russia, Bloomberg, Moscow, Donald Trump, Riyadh, U S Energy, Rupert Neil Bumfrey, Saudi Arabia Russia, Prince Abdulaziz Bin Salman, Dan Brouillette, Global Oil Powers


OPEC+ likely to agree to cut production if U.S. joins effort: sources - Reuters

OPEC+ likely to agree to cut production if U.S. joins effort: sources - Reuters:Major oil producers including Saudi Arabia and Russia are likely to agree to cut production at a Thursday meeting but only if the United States joins the effort, aimed at coping with the disastrous effect of the coronavirus on fuel demand, three OPEC+ sources told Reuters on Monday.Worldwide oil demand has dropped by roughly 30%, or about 30 million barrels a day, at the same time that Saudi Arabia and Russia have be...
Tags: Travel, Saudi Arabia, Russia, Opec, United States, Reuters, Organization of the Petroleum Exporting Countries, Rupert Neil Bumfrey


Oil falls after #SaudiArabia, Russia delay meeting, Cushing stockpiles soar - Reuters

Oil falls after Saudi Arabia, Russia delay meeting, Cushing stockpiles soar - Reuters:Oil prices slumped on Monday, pulling back from last week’s gains after Saudi Arabia and Russia delayed a meeting of oil producers aimed at resolving growing worldwide oversupply as the coronavirus pandemic pummels demand.The global oil market rebounded over 35% last week after sources at the Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, said they are close to a deal...
Tags: Travel, Saudi Arabia, Russia, Opec, United States, Reuters, Associates, Petroleum Exporting Countries OPEC, Jim Ritterbusch, Galena Illinois, Rupert Neil Bumfrey, Saudi Arabia Russia, Ritterbusch


Russia and #Saudi 'very close' to oil deal, Moscow negotiator tells CNBC - Reuters

Russia and Saudi 'very close' to oil deal, Moscow negotiator tells CNBC - Reuters:Saudi Arabia and Russia are “very, very close” to a deal on oil production cuts, Kirill Dmitriev, head of Russia’s sovereign wealth fund, told CNBC on Monday.“I think the whole market understands that this deal is important and it will bring lots of stability, so much important stability to the market, and we are very close,” Dmitriev, who is also one of Moscow’s top negotiators, told CNBC.Dmitriev was first to mak...
Tags: Travel, Saudi Arabia, Russia, Opec, Vienna, Moscow, Cnbc, Organization of Petroleum Exporting Countries OPEC, Rupert Neil Bumfrey, Dmitriev, Kirill Dmitriev, CNBC Reuters


Oil falls after #SaudiArabia, Russia delay meeting - Reuters

Oil falls after Saudi Arabia, Russia delay meeting - Reuters:Oil prices fell on Monday, after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could help reduce global oversupply as the coronavirus pandemic pummels demand.Brent crude LCoc1 fell more than $3 when Asian markets opened but recovered some ground with traders hopeful that a deal between the top producers was still within reach.At 0814 GMT, Brent was down $1.10, or 3.2%, at $33.01 a barrel. U.S. crude CLc1 were 84...
Tags: Travel, Saudi Arabia, Russia, Opec, Reuters, Petroleum Exporting Countries, Rupert Neil Bumfrey, Saudi Arabia Russia


Oil prices under pressure from #Saudi-Russia dispute, but tariffs provide support - Reuters

Oil prices under pressure from Saudi-Russia dispute, but tariffs provide support - Reuters:Global benchmark oil prices are expected to open lower on Monday, but the decline may be muted as the market maintains hope that top crude exporters Saudi Arabia and Russia will strike a deal to curb production at a meeting that was delayed until Thursday.Prices may decline more gradually after Saudi Arabia sent a signal that a production cut deal may be ahead, and the U.S. has said it will put pressure on...
Tags: Travel, Saudi Arabia, Russia, Reuters, McNally, Rupert Neil Bumfrey, Robert McNally, Rapidan Energy Group, Bethesda Maryland Saudi Arabia


#SaudiArabia delays May crude prices until after OPEC+ meeting: Saudi source - Reuters

Saudi Arabia delays May crude prices until after OPEC+ meeting: Saudi source - Reuters:Saudi Aramco (2222.SE) will delay the release of its crude official selling prices (OSP) for May until April 10 to wait for the outcome of a meeting between OPEC and its allies regarding possible output cuts, a senior Saudi source familiar with the matter said on Sunday.“It is an unprecedented measure that has not been taken by Aramco before. May OSPs will depend on how the OPEC+ meeting concludes. We are doin...
Tags: Travel, Asia, Saudi Arabia, Russia, Opec, Donald Trump, Reuters, Aramco, Saudi Aramco, Rupert Neil Bumfrey


OPEC+ Meeting to Be Delayed on New #Saudi, Russia Rift - Bloomberg

OPEC+ Meeting to Be Delayed on New Saudi, Russia Rift - Bloomberg: The OPEC+ meeting to try to end the oil price war is unlikely to go ahead of Monday as previously expected, as Riyadh and Moscow engaged on a war of words about who’s to blame for the collapse in oil prices.The OPEC+ alliance needs more time for negotiations, a delegate familiar with th matter said, noting the meeting may still happen a few days later.Saudi Arabia made a pointed diplomatic attack on Russian President Vladimir Put...
Tags: Travel, Putin, Vladimir Putin, Saudi Arabia, Russia, Opec, Moscow, Riyadh, Rupert Neil Bumfrey, Prince Faisal bin Farhan, Russia Rift Bloomberg


It was Russia, not #SaudiArabia, that pulled out of OPEC+ deal: Saudi ministers | ZAWYA MENA Edition

It was Russia, not Saudi Arabia, that pulled out of OPEC+ deal: Saudi ministers | ZAWYA MENA Edition:Saudi Arabia's foreign and energy ministers on Saturday denied Russia's claim that the Kingdom abandoned the OPEC+ deal, leading to a collapse in world oil prices.In a statement carried by the Saudi Press Agency (SPA), Foreign Minister Prince Faisal bin Farhan said "a statement attributed to one of the media of President Vladimir Putin of the Russian Federation claimed that one of the reasons for...
Tags: Travel, Vladimir Putin, Saudi Arabia, Russia, Kingdom, Opec, Russian Federation, Saudi Press Agency, Rupert Neil Bumfrey, Prince Faisal bin Farhan


#Saudi energy minister rejects Russian comments about kingdom's withdrawal from OPEC+ deal - Reuters

Saudi energy minister rejects Russian comments about kingdom's withdrawal from OPEC+ deal - Reuters:The Saudi energy minister on Saturday rejected Russia’s remarks that the kingdom withdrew last month from a deal to cut output.Prince Abdulaziz bin Salman was responding to comments made by his Russian counterpart on Friday, according to a statement carried by Saudi state news agency SPA. “The Russian Minister of Energy was the first to declare to the media that all the participating countries are...
Tags: Travel, Russia, Opec, Reuters, Abdulaziz, Rupert Neil Bumfrey, Abdulaziz bin Salman


Oil Market Is Desperate for #SaudiArabia to Flatten the Curve - Bloomberg

Oil Market Is Desperate for Saudi Arabia to Flatten the Curve - Bloomberg:It is entirely fitting that the one of best performing energy stock on Friday morning was recently bankrupt Whiting Petroleum Corp. As President Donald Trump’s initial tweet-heard-round-the-(oil)-world has snowballed into a seething mass of optimistic rumor, so the more — how to put this? — speculative stocks have floated to the top. Just as crude oil recorded a 25% gain Thursday by moving all of $5 a barrel, Whiting was n...
Tags: Travel, Saudi Arabia, Russia, Donald Trump, Trump, WHITING, Whiting Petroleum Corp, Rupert Neil Bumfrey, ClearView Energy Partners, Curve Bloomberg, Kevin Book


Oil surges more than 13% on hopes of output deal - Reuters

Oil surges more than 13% on hopes of output deal - Reuters:Crude futures surged for a second day on Friday, with both U.S. and Brent contracts posting their largest weekly percentage gains on record due to hopes that a global deal to cut crude supply worldwide will emerge early next week.On Thursday, oil staged its largest one-day rally in history on prospects for a cut in supply equivalent to anywhere from 10% to 15% of world demand. The sharp rebound from weeks of losses came after U.S. Presid...
Tags: Travel, Saudi Arabia, Russia, United States, Brent, Donald Trump, Trump, Reuters, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil Surges as OPEC+ Prepares for Urgent Meeting on Monday - Bloomberg

Oil Surges as OPEC+ Prepares for Urgent Meeting on Monday - Bloomberg:Oil advanced back above $31 a barrel in London, reversing earlier declines, as OPEC+ scheduled an urgent meeting next week after a historic slump in prices that has crippled the energy sector.The coalition will hold a meeting by video conference on Monday, though it’s still not clear who will attend, according to delegates. News of the plan came just hours after U.S. President Donald Trump said he expected global producers inc...
Tags: Travel, London, Saudi Arabia, Russia, Opec, Bloomberg, Donald Trump, Rupert Neil Bumfrey


#SaudiArabia News: Oil War in Second Month With Prices for May - Bloomberg

Saudi Arabia News: Oil War in Second Month With Prices for May - Bloomberg:Vanishing demand and alternative grades at never-seen-before prices are fueling expectations that Saudi Aramco will need to price its crude at aggressively low levels this month to keep its customers satisfied. The world’s biggest oil exporter is due to announce its official selling prices for May shipments this Sunday. It comes a month after the kingdom discounted April supplies by the most in at least 20 years as it e...
Tags: Travel, Saudi Arabia, Russia, Bloomberg, Saudi Aramco, Middl, Rupert Neil Bumfrey


OPEC+ producers debate possible oil cuts of 10 million bpd: OPEC source - Reuters

OPEC+ producers debate possible oil cuts of 10 million bpd: OPEC source - Reuters:The OPEC+ crude oil exporter group is debating cutting global supply by 10 million barrels per day (bpd), an OPEC source said on Friday, adding that any further cuts must include producers from outside the alliance.U.S. President Donald Trump on Thursday said he had brokered a deal that could result in Russia and Saudi Arabia cutting output by 10 million to 15 million bpd, representing 10-15% of global supply. Trum...
Tags: Travel, Saudi Arabia, Russia, Opec, Donald Trump, Trump, Reuters, Rupert Neil Bumfrey


Brent reverses losses to rise above $30/bbl in early European trading - Reuters

Brent reverses losses to rise above $30/bbl in early European trading - Reuters:Benchmark Brent crude oil futures reversed losses incurred during Asian hours in early European trading on Friday to rise above $30 a barrel, with hopes of a huge global supply cut deal to support prices still alive.Brent crude LCOc1 futures were up 7%, or $2.10, at $32.04 per barrel by 0748 GMT. Brent soared as much as 47% during Thursday’s session, its highest intraday percentage gain ever, before closing 21% highe...
Tags: Travel, Saudi Arabia, Russia, Brent, Donald Trump, Trump, Reuters, Rupert Neil Bumfrey


U.S. crude futures fall 2% at open - Reuters

U.S. crude futures fall 2% at open - Reuters:Benchmark U.S. crude fell 2% at open on Friday, coming off its biggest one-day gain in the previous session after President Donald Trump said he expected Saudi Arabia and Russia to announce a major oil production cut.U.S. West Texas Intermediate (WTI) crude CLc1 futures were down 1.8%, or 45 cents, at $24.87 at 2204 GMT, after having surged 24.7% on Thursday. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Saudi Arabia, Russia, Donald Trump, Reuters, Rupert Neil Bumfrey


Oil soars after Trump says Saudis and Russians to cut output - Reuters

Oil soars after Trump says Saudis and Russians to cut output - Reuters:Crude prices soared on Thursday after U.S. President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil.Trump said he had spoken to Saudi Crown Prince Mohammed bin Salman, and expects Saudi Arabia and Russia to cut oil output by as much as 10 million to 15 million barre...
Tags: Travel, Saudi Arabia, Russia, Donald Trump, Wall Street Journal, Trump, Reuters, Mohammed bin Salman, Rupert Neil Bumfrey


Exclusive: Trump does not plan to ask U.S. oil producers for coordinated cuts - official - Reuters

Exclusive: Trump does not plan to ask U.S. oil producers for coordinated cuts - official - Reuters:The United States does not know formal details of Saudi Arabian and Russian plans to reduce oil supply yet and will not ask U.S. domestic oil producers to chip in with their own cuts, a senior administration official told Reuters on Thursday.Earlier, President Donald Trump said in a tweet that he expected Saudi Arabia and Russia to cut approximately 10 million barrels from daily production, a comme...
Tags: Travel, Saudi Arabia, Russia, United States, Donald Trump, Trump, Reuters, Saudi Arabian, Rupert Neil Bumfrey


Russia does not rule out returning to oil talks with #SaudiArabia - Reuters

Russia does not rule out returning to oil talks with Saudi Arabia - Reuters:Russian Energy Minister Alexander Novak said on Thursday that Moscow may return to oil talks with Saudi Arabia.Speaking to Echo Moskvy radio station he also said that Russia would continue discussions with the United States on oil markets. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Saudi Arabia, Russia, United States, Moscow, Reuters, Alexander Novak, Saudi Arabia Speaking, Rupert Neil Bumfrey, Echo Moskvy


Russia has no plans to increase oil output: Energy Minister - Reuters

Russia has no plans to increase oil output: Energy Minister - Reuters:Russia has no plans to crank up its oil output because the market is already oversupplied, even though a deal with OPEC to curb production has expired, Energy Minister Alexander Novak told Reuters on Thursday.Data from the ministry released on Thursday by Interfax also showed that Russian oil production was 11.29 million barrels per day (bpd) in March, unchanged from a month earlier.International crude prices have fallen about...
Tags: Travel, Energy, Saudi Arabia, Russia, Opec, Donald Trump, Reuters, Interfax, Alexander Novak, Rupert Neil Bumfrey, Energy Minister Reuters


Oil jumps as Trump talks up truce hopes for Saudi-Russia price war - Reuters

Oil jumps as Trump talks up truce hopes for Saudi-Russia price war - Reuters:Crude oil futures jumped 10% on Thursday after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their oil price war.Brent crude futures rose more than 11% in early trade. By 1132 GMT, Brent was up 10.75%, or $2.66, to $27.40, while U.S. West Texas Intermediate (WTI) crude futures rose 10.09% or $2.05, to $22.36.Trump said he had talked recently with the leaders of both Rus...
Tags: Travel, Saudi Arabia, White House, Russia, Brent, Donald Trump, Trump, Reuters, Saudi Russia, Rupert Neil Bumfrey, Saudi Arabia Russia


MIDEAST STOCKS-Oil surge lifts most Gulf stock markets; #AbuDhabi falls | Nasdaq

MIDEAST STOCKS-Oil surge lifts most Gulf stock markets; Abu Dhabi falls | Nasdaq:Most Gulf stock markets rose on Thursday, as crude oil futures surged on hopes for a deal to end the price war between Saudi Arabia and Russia, although mounting fears of a deep global recession due to the coronavirus outbreak weighed on sentiment.Brent crude LCOc1 futures jumped 11.36%, or $2.81, to $27.55 by 0701 GMT, after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon t...
Tags: Travel, Vladimir Putin, Saudi Arabia, Russia, Abu Dhabi, Donald Trump, Gulf, Tasi, Rupert Neil Bumfrey, SE Petrochemical


Oil rallies as Trump talks up truce hopes for #Saudi-Russia price war - Reuters

Oil rallies as Trump talks up truce hopes for Saudi-Russia price war - Reuters:Crude oil futures jumped 10% on Thursday after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their oil price war and Russian President Vladimir Putin called for a solution to “challenging” oil markets.Brent crude futures rose 11.36%, or $2.81, to $27.55 as of 0701 GMT, while U.S. West Texas Intermediate (WTI) crude futures increased 10.0% or $2.03, at $22.34.Trump sai...
Tags: Travel, Vladimir Putin, Saudi Arabia, White House, Russia, Donald Trump, Trump, Reuters, Saudi Russia, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


What are the World Nomad Games

Wrestlers, archers , bone-tossers, and games of polo played with a headless goat instead of a ball: Welcome to the World Nomad Games, the largest international sports competition you’ve never heard of. Celebrating nomadic traditions since 2014, the World Nomad Games has been held in Cholpon-Ata, a Kyrgyz town on the shores of the Issyk-Kul lake, every second year. Although the fourth iteration of the Games was supposed to take place in Turkey in 2020 (location undetermined), no announcement a...
Tags: Travel, Silk Road, Russia, Turkey, Unesco, United States, Philippines, New York Times, Kyrgyzstan, Uzbekistan, Ussr, Kazakhstan, All, Travelers, Central Asia, Issyk Kul


#SaudiArabia Oil Strategy Faces a Critical Test in April - Bloomberg

Saudi Arabia Oil Strategy Faces a Critical Test in April - Bloomberg:The impact of Saudi Arabia’s decision to increase oil production amidst the demand-killing coronavirus pandemic may not be over yet. Three weeks ago, in reaction to Russia’s decision to pull out of the OPEC+ production cut deal, Saudi Arabia promised to increase its oil production to an all-time high of 12 million barrels per day in April. It also committed to putting an additional 300,000 barrels per day from inventory on the ...
Tags: Travel, Saudi Arabia, Russia, Opec, Rupert Neil Bumfrey



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