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U.S., Russia agree to oil market talks as Trump calls price war 'crazy'

U.S. President Donald Trump and Russian President Vladimir Putin agreed during a phone call on Monday to have their top energy officials meet to discuss slumping global oil markets, the Kremlin said, as Trump called Russia's price war with Saudi Arabia "crazy."
Tags: Money, Vladimir Putin, Saudi Arabia, Russia, businessNews, Kremlin, Donald Trump, Trump


Trump to speak with Putin, criticizes Russian-Saudi oil price war as 'crazy'

President Donald Trump said on Monday he planned to speak with Russian President Vladimir Putin and said Saudi Arabia and Russia "both went crazy" in their oil-price war, a battle begun just as the spread of the coronavirus around the world squashed oil demand.
Tags: Money, Putin, Vladimir Putin, Saudi Arabia, Russia, businessNews, Donald Trump, Trump


Trump plans to speak with Putin, criticizes Russian-Saudi oil price war as 'crazy'

President Donald Trump said on Monday he plans to speak with Russian President Vladimir Putin and that Saudi Arabia and Russia "both went crazy" in their oil-price war, a battle begun just as the spread of the coronavirus around the world drove down demand for oil.
Tags: Money, Putin, Vladimir Putin, Saudi Arabia, Russia, businessNews, Donald Trump, Trump


Saudi to raise oil exports to record levels as price war rages

Saudi Arabia said on Monday it will raise its oil exports to a record 10.6 million barrels per day starting from May, escalating a price war with Russia. Saudi Arabia, the world's top oil exporter, which already announced a sharp production increase for April, said it will add additional supplies to the global market, deepening a glut. "The kingdom plans to raise its petroleum exports by 600,000 bpd from May, so total exports will increase to 10.6 million bpd," said an official at the energy m...
Tags: News, Saudi Arabia, Russia Saudi Arabia


Gulf countries set to face headwind from coronavirus, low oil prices, capital flight -S&P - Reuters

Gulf countries set to face headwind from coronavirus, low oil prices, capital flight -S&P - Reuters:Gulf oil exporting countries are expected to face headwinds this year from lower oil prices, economic pressures due to the coronavirus outbreak, and capital flight from emerging markets, S&P Global Ratings said.Saudi Arabia is likely to see a “sharp rise” in its fiscal deficit this year due to oil supply increases and a collapse in oil demand, S&P said in a webcast on Monday.But financially weaker...
Tags: Travel, Saudi Arabia, Oman, Bahrain, Gulf, Reuters, Rupert Neil Bumfrey


RPT-COLUMN-Coronavirus demand hit renders OPEC+, Trump manoeuvres irrelevant: Russell - Reuters

RPT-COLUMN-Coronavirus demand hit renders OPEC+, Trump manoeuvres irrelevant: Russell - Reuters:Imagine for a moment that the Organization of the Petroleum Exporting Countries (OPEC) and Russia had agreed at the start of this month to extend and deepen their crude oil output cuts. It wouldn’t have made the blindest bit of difference.While it was only three and half weeks ago, though it feels as long as a lifetime, the collapse of the deal between OPEC and allies, including Russia, to limit outpu...
Tags: Travel, Europe, Saudi Arabia, China, Russia, Opec, North America, Rupert Neil Bumfrey, Russell Reuters, OPEC Trump


Saudi Arabia plans to boost oil exports to 10.6 million bpd from May

Saudi Arabia plans to boost its oil exports to 10.6 million barrels per day from May because the country is burning less oil for power generation and there is also lower domestic consumption, a Saudi energy ministry official said on Monday.
Tags: Money, Saudi Arabia, businessNews


#Saudi, #UAE businesses battle cash crunch despite anti-coronavirus stimulus - Reuters

Saudi, UAE businesses battle cash crunch despite anti-coronavirus stimulus - Reuters:Saudi Arabia and the United Arab Emirates are spending tens of billions to prop up their economies during the coronavirus crisis and oil price slump but the scaling back of state projects is blunting the impact.The pain felt by the tourism, retail, hospitality and logistics sectors due to global travel disruptions and closure of most public venues is spreading to the contracting and oil services industries in th...
Tags: Travel, Saudi Arabia, United Arab Emirates, Mecca, Uae, Medina, Reuters, Riyadh, Saudi Binladin Group, Rupert Neil Bumfrey, MOBCO Civil Construction, Riyadh Mecca


Saudi, UAE businesses battle cash crunch despite anti-coronavirus stimulus

Saudi Arabia and the United Arab Emirates are spending tens of billions to prop up their economies during the coronavirus crisis and oil price slump but the scaling back of state projects is blunting the impact.
Tags: Money, Saudi Arabia, businessNews, United Arab Emirates, Uae


Saudi Arabia plans to boost crude exports to 10.6 million barrels per day from May - official

Saudi Arabia plans to boost its crude oil exports to 10.6 million barrels per day starting from May due to burning less oil for power generation at home and lower domestic consumption, a Saudi energy ministry official said on Monday.
Tags: Money, Saudi Arabia, businessNews


Saudi Arabia allegedly spied on its citizens in the US through a network flaw

Last November, two Twitter employees in the US were charged for allegedly spying for Saudi Arabia. Now, the Arab nation is using flaws in telecommunications network infrastructure to snoop on its own citizens traveling abroad. A whistleblower told The Guardian that millions of secret requests originated from Saudi Arabia were made for tracking folks traveling in the US with Saudi-registered phones. These requests started in November 2019 and continued for the next four months; the whistleblower ...
Tags: Security, Startups, Saudi Arabia, US


Houthis launch air attacks on Saudi capital

Missiles fired at Riyadh and ‘sensitive’ sites near Yemen borderYemen’s Iran-aligned Houthi rebels launched ballistic missiles towards the Saudi Arabian capital, Riyadh, and southern areas near the Yemeni border on Saturday night. Related: Revealed: £1bn of taxpayers' cash to help foreign countries buy British arms Continue reading...
Tags: Saudi Arabia, World news, Iran, Middle East and North Africa, Yemen, Riyadh


#SaudiArabia, Virus News: Banks Told to Support Businesses - Bloomberg

Saudi Arabia, Virus News: Banks Told to Support Businesses - Bloomberg:Saudi Arabia’s central bank is ordering lenders to provide concessional loans to businesses grappling with the fallout of the coronavirus so companies won’t have to cut jobs.The Saudi Arabian Monetary Authority wants banks to immediately put in place a lending program for at least six months to “assist in maintaining employment levels,” according to a document sent by the regulator to lenders and seen by Bloomberg. Banks shou...
Tags: Travel, Saudi Arabia, Bloomberg, Bloomberg Intelligence, Sama, Rupert Neil Bumfrey, Saudi Arabian Monetary Authority, Edmond Christou, Bloomberg Banks


10 things in tech you need to know today

Good morning! This is the tech news you need to know this Monday. The US government is using location data from millions of phones to track the spread of coronavirus. The CDC, and state and local governments, are making use of the data from mobile advertising industry, per the Wall Street Journal.  Apple's iPhone factories in China are back up and running but its suppliers are wary that demand may not keep up. Orders for Q1 are reportedly down 18% year-on-year as the coronavirus pandemic shutt...
Tags: Amazon, Europe, Elon Musk, UK, New York, Cdc, Saudi Arabia, China, Softbank, US, Trends, Bloomberg, Alexa, Facebook Google, Reuters Amazon, Bloomberg Tech


Kremlin Fights U.S. Sanctions, Backs Maduro in Rosneft Deal

(Bloomberg) -- The Kremlin’s sudden shift of ownership of multi-billion-dollar oil projects in Venezuela shields oil giant Rosneft PJSC from further U.S. sanctions but keeps Moscow firmly behind embattled President Nicolas Maduro amid a wider stand-off with Washington.“Russia is not walking away from Maduro and will seek to thwart U.S. efforts to depose him,” said Vladimir Frolov, a former diplomat and foreign policy analyst in Moscow. “Moscow is just shielding Rosneft from sanctions which could...
Tags: News, Putin, Washington, Saudi Arabia, Russia, Opec, Bloomberg, Moscow, Venezuela, Kremlin, Donald Trump, Nicolás Maduro, Rosneft, Trump, Maduro, PDVSA


Crude oil futures drop at open on grim demand outlook

The oil markets are enduring a twin shock of demand destruction caused by the coronavirus pandemic and the Saudi-Russia price war that is flooding markets with extra supply. The virus has brought the worldwide aviation industry to a standstill and put roughly 3 billion people on lockdown to limit the spread of the virus. Despite this, Saudi Arabia and Russia remain at loggerheads.
Tags: Business, News, Saudi Arabia, Russia


Saudi intercepts Huthi missiles over curfew-locked Riyadh, border city

Saudi air defences intercepted Yemeni rebel missiles over Riyadh and a city on the Yemen border, leaving two civilians wounded in the curfew-locked capital amid efforts to combat coronavirus, state media said Sunday. Multiple explosions shook Riyadh late Saturday in the first major assault on Saudi Arabia since the Huthi rebels offered last September to halt attacks on the kingdom after devastating twin strikes on Saudi oil installations. The Iran-aligned insurgents claimed responsibility arou...
Tags: News, Saudi Arabia, Iran, Yemen, Riyadh


Revealed: Saudis suspected of phone spying campaign in US

Whistleblower’s data suggests millions of tracking requests sent over four-month periodSaudi Arabia appears to be exploiting weaknesses in the global mobile telecoms network to track its citizens as they travel around the US, according to a whistleblower who has shown the Guardian millions of alleged secret tracking requests.Data revealed by the whistleblower, who is seeking to expose vulnerabilities in a global messaging system called SS7, appears to suggest a systematic spying campaign by the ...
Tags: Technology, Saudi Arabia, US, World news, US news, Surveillance, Mobile Phones, Middle East and North Africa, Telecoms, Espionage


Prolonged low oil prices, coronavirus crisis could hurt #Saudi | ZAWYA MENA Edition

Prolonged low oil prices, coronavirus crisis could hurt Saudi | ZAWYA MENA Edition:Saudi Arabia continues to show resilience despite the current challenges posed by the coronavirus outbreak, but it could face some downside if oil prices will remain low for a longer period, analysts have suggested. US-based international credit ratings agency Standard & Poor’s (S&P) has said it is affirming its A-/A-2 long- and short-term sovereign credit ratings on Saudi Arabia, with a stable outlook.The latest ...
Tags: Travel, Saudi Arabia, US, Rupert Neil Bumfrey, Standard Poor 's S P


#Saudi central bank asks banks to restructure financing without extra fees - Reuters

Saudi central bank asks banks to restructure financing without extra fees - Reuters:Saudi Arabia’s central bank said banks should agree to restructure financing for customers without extra fees and asked banks to provide financing needed by private sector customers who lost their jobs.The Saudi Arabian Monetary Authority said banks should review interest and other fees levied on credit cards in line with the recent drop in interest rates.The guidelines are part of measures aimed at stemming the ...
Tags: Travel, Saudi Arabia, Reuters, Rupert Neil Bumfrey, Saudi Arabian Monetary Authority


Saudi Arabia expands lockdown as coronavirus death toll doubles

Saudi Arabia halted entry and exit into Jeddah governorate on Sunday, expanding lockdown rules as it reported four new deaths from a coronavirus outbreak that continues to spread in the region despite drastic measures to contain it. The Saudi health ministry said four more foreign residents, in Jeddah and Medina, had died from the virus, taking the total to eight. Oman, Kuwait and Bahrain reported more cases, taking the total in the six Gulf Arab countries to over 3,200, with 15 deaths.
Tags: News, Saudi Arabia, Bahrain, Medina, Jeddah, Gulf Arab, Oman Kuwait


The Coronavirus Means It's A Truly Free Market For Oil - Bloomberg

The Coronavirus Means It's A Truly Free Market For Oil - Bloomberg:At the point we’re now at, postponing the oil-price war won’t make a lot of difference for an industry that’s already breaking down under the weight of demand destruction. It’s too late to use diplomacy and artful negotiations to share the burden of output cuts that are now inevitable.The pumping free-for-all unleashed by Saudi Arabia and Russia is important for the long-term shape of the oil industry, but, as my colleague Javier...
Tags: Travel, Saudi Arabia, Russia, United States, Donald Trump, State, Mohammed bin Salman, Pompeo, Mike Pompeo, Rupert Neil Bumfrey, Oil Bloomberg, Javier Blas


Saudi Arabia assures India of uninterrupted LPG supply: Dharmendra Pradhan

India's oil minister said on Sunday that he had discussed global oil market developments with Saudi Energy Minister Prince Abdulaziz bin Salman and Aramco's Chief Executive Amin Nasser as well as uninterrupted LPG supplies to India.
Tags: Money, Saudi Arabia, India, businessNews, Aramco, Dharmendra Pradhan, Amin Nasser, Abdulaziz bin Salman


Saudi forces intercept missile over curfew-locked Riyadh

Saudi forces intercepted a missile over Riyadh late Saturday, state media said, after at least three explosions were heard in the curfew-locked capital amid efforts to curb the coronavirus pandemic. There was no immediate claim of responsibility for the attack, but Yemen's Iran-aligned Huthi rebels have previously targeted Riyadh and other Saudi cities with missiles, rockets and drones. It was the first major assault on Saudi Arabia since the Huthis offered last September to halt attacks on th...
Tags: News, Saudi Arabia, Iran, Yemen, Riyadh


#SaudiArabia extends suspension of flights, work indefinitely - Reuters

Saudi Arabia extends suspension of flights, work indefinitely - Reuters:Saudi Arabia said on Sunday it was extending indefinitely the suspension of international passenger flights and workplace attendance in both public and private sectors among efforts to contain the spread of the coronavirus.Domestic flights, trains, buses and taxis also remain suspended, the Interior Ministry said in a statement. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Saudi Arabia, Reuters, Interior Ministry, Rupert Neil Bumfrey


Rosneft Sells Venezuelan Assets as Fight With U.S. Grows

(Bloomberg) -- Russian oil giant Rosneft PJSC sold its assets in Venezuela to the Russian government, in what may be a maneuver to avoid any U.S. sanctions in an escalating fight between Caracas, Washington and Moscow.Rosneft is selling local production, service and trading assets to a state-owned company, it said in a statement. The move is to protect shareholders’ interests, according to company spokesman Mikhail Leontyev.The U.S. slapped sanctions on two units of Rosneft earlier this year for...
Tags: News, Vladimir Putin, Saudi Arabia, Russia, Opec, Qatar, Bloomberg, Moscow, Venezuela, Kremlin, Donald Trump, Nicolás Maduro, Rosneft, Trump, BP Plc, PDVSA


Revealed: £1bn of taxpayers' cash to help foreign countries buy British arms

Campaigners say plan will end up fuelling conflict and human rights abusesThe government has quietly drawn up proposals to lend other countries £1bn of public money so that they can buy British-made bombs and surveillance technology.The move has been attacked by arms-control campaigners who say that taxpayers’ cash may end up fuelling conflict and human rights abuses. Continue reading...
Tags: Politics, Saudi Arabia, UK News, Middle East and North Africa, Defence policy, Yemen, Arms trade


Oil News, OPEC: OPEC Members Aren’t Backing Request for Urgent Consultations - Bloomberg

Oil News, OPEC: Latest on Crude Prices in Energy War - Bloomberg:OPEC nations aren’t giving support to a request from the group’s president for emergency consultations over tanking oil prices, according to a delegate.Algeria, which holds the cartel’s rotating presidency, urged the secretariat this week to convene a panel that assesses market conditions as oil slumps amid the coronavirus crisis and a price war launched by OPEC’s biggest member, Saudi Arabia.However, the request has failed to gath...
Tags: Travel, Saudi Arabia, Russia, Opec, Bloomberg, Algeria, Riyadh, Rupert Neil Bumfrey, Energy War Bloomberg


Saudi Arabia says no talks on new oil deal, Moscow suggests larger OPEC+

Saudi Arabia said on Friday it was not in talks with Russia to balance oil markets despite rising pressure from Washington to stop a price rout amid the coronavirus pandemic and an attempt by Moscow to fix a rift with the de facto OPEC leader.
Tags: Money, Washington, Saudi Arabia, Russia, Opec, businessNews, Moscow


Stocks drop, but hold on to weekly gains after a big rally

By Alex Veiga and Damian J. Troise, The Associated Press Wall Street closed lower Friday but still notched big gains for the week as investors held out hope that a $2 trillion rescue package will cushion businesses and households from the economic devastation being caused by the coronavirus. The S&P 500 closed 3.4% lower, but still climbed 10.3% for the week, its biggest gain since March 2009. That follows two weeks of relentless selling. The Dow Jones Industrial Average’s 12.8% weekly gain was ...
Tags: Saudi Arabia, China, Russia, Sport, Soccer, House, Credit Suisse, Italy, Delta, Ubs, Treasury, Goldman Sachs, Donald Trump, Carnival, Johns Hopkins University, FactSet