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The Latest Breaking News from Abdulaziz bin Salman

Saudi Arabia, China Stress Importance of Reliable Oil Supplies for Market Stability

Saudi Arabia and China have agreed to cooperate in the field of "peaceful use of nuclear energy" and establish a regional hub for Chinese manufacturers to use the Kingdom's strategic location linking three continents. Saudi Energy Minister Prince Abdulaziz bin Salman held on Friday an online meeting with China’s National…

Asharq Al-Awsat

Saudi Energy Minister, Top Chinese Official Stress Importance of Stable Long-Term Crude Supplies

Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman and the director of China's National Energy Administration Zhang Jianhua on Friday stressed the importance of stable long-term supplies to crude oil markets, the Saudi state news agency SPA reported. The two agreed to continue cooperation efforts to maintain stability in oil…

Asharq Al-Awsat

OPEC's price hike: A history lesson

U.S. leaders threaten revenge against Saudi Arabia over OPEC's production cuts. They're missing the point

Salon

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OPEC+ oil output cut shows widening rift between Biden and Saudi royals

The OPEC+ organization's decision this week to cut oil production despite stiff U.S. opposition has further strained already tense relations between President Joe Biden's White House and Saudi Arabia's royal family, once one of Washington's staunchest Middle East allies, according to interviews with about a dozen government officials and experts…

Reuters

Is OPEC ‘aligning with Russia’ after production cuts?

The United States has accused OPEC oil-producing nations of siding with Russia after a decision to cut oil output.

Al Jazeera

Oil Prices Reach Highest Level in Three Months after ‘OPEC+’ Deal

Oil prices have stabilized near the highest level in three months, after OPEC+ key ministers agreed oil production cuts of 2 million barrels per day. This is the highest oil cut since 2020. Saudi Energy Minister Abdulaziz bin Salman said OPEC+ had needed to be pro-active as central banks around…

Asharq Al-Awsat

A bump and a miss: Saudi oil cut slaps down Biden's outreach

President Joe Biden is effectively acknowledging the failure of one of his biggest foreign policy gambles: a fist-bump with the de-facto leader of Saudi Arabia, the crown prince associated with human rights abuses

The Independent UK

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Saudi Energy Minister Tackles Int’l Press Questions for an Hour

In a nearly-hour long conference, Saudi Energy Minister Prince Abdulaziz bin Salman, who also chairs the OPEC+ joint ministerial committee, tackled world-press inquiries about the future of oil market trends and outcomes of OPEC meetings with a sense of humor and joy. “Enjoy the sun…It’s going to be a sunny…

Asharq Al-Awsat

OPEC+ Agrees Oil Output Cuts of 2 Mln Bpd

The OPEC+ alliance of oil-exporting countries decided Wednesday to sharply cut production to support sagging oil prices. Energy ministers cut production by 2 million barrels per day starting in November after gathering for their first face-to-face meeting at the Vienna headquarters of the OPEC oil cartel since the start of…

Asharq Al-Awsat

Prince Abdulaziz bin Salman remains Saudi Arabia's energy minister under new cabinet

Prince Abdulaziz bin Salman remained Saudi Arabia's energy minister under a new cabinet headed by the kingdom's crown prince and de facto ruler Prince Mohammed bin Salman, Saudi state media reported on Tuesday.

Reuters

Saudi Energy Minister: OPEC+ Does Not Target Specific Price Range

Saudi Energy Minister Prince Abdulaziz bin Salman stressed that OPEC+ did not target specific prices or price ranges, but rather sought to support market stability and balance supply and demand for the benefit of the petroleum industry. Prince Abdulaziz, who chairs the ministerial committee in the OPEC+ alliance, told an…

Asharq Al-Awsat

OPEC+ JTC Raises 2022 Oil Market Surplus Forecast

The oil market is likely to have a surplus greater than forecast earlier this year amid pressures from rising energy costs and tightening monetary policy that decreased demand for oil, OPEC + said in a report on Wednesday. The report comes days ahead of an OPEC+ policy meeting on Sept.…

Asharq Al-Awsat

OPEC+ Member States Support Saudi Arabia’s Stance on Balancing Oil Markets

A statement by Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman on balancing oil markets has been met by a flurry of support by OPEC+ member states. The United Arab Emirates is aligned with Saudi Arabia’s thinking on crude oil markets, a source with knowledge of the matter told Reuters…

Asharq Al-Awsat

Felixstowe port disruption ‘could continue until Christmas’ says union – as it happened

Disruption at the UK’s largest container port could escalate until Christmas unless workers are given an improved pay offer, Unite boss says

The Guardian - UK

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Asharq Al-Awsat

Saudi Energy Minister: Soon We Will Start Working on New OPEC+ Deal

Saudi Energy Minister Prince Abdulaziz bin Salman has said a new deal between OPEC+ partners beyond 2022 would be agreed. “The paper and physical markets have become increasingly more disconnected,” he said in response to written questions from Bloomberg News. "Soon we will start working on a new agreement beyond…

Reuters

Saudi energy minister, Russia's Novak discuss cooperation ahead of OPEC+ meeting

Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman met Russian Deputy Prime Minister Alexander Novak on Friday in Riyadh, the Saudi energy ministry said on Twitter.

Asharq Al-Awsat

Saudi Arabia, Iraq Sign Electricity Interconnection Agreement

Saudi Arabia and Iraq signed the executive report on the principles of the electricity interconnection agreement between the two countries implementing the memorandum of understanding signed at the beginning of 2022. The electrical interconnection will link from Arar in northern Saudi Arabia to Yusufiya near Baghdad and have a capacity…

Asharq Al-Awsat

Erdogan: Saudi Crown Prince to Visit Turkey on Wednesday

Saudi Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, will visit Turkey on Wednesday, announced President Recep Tayyip Erdogan on Friday. He told journalists that he will receive Crown Prince Mohammed at the presidential complex in Ankara. Turkish sources said agreements will be signed during his…

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Asharq Al-Awsat

Saudi Energy Minister, Iraqi Counterpart Discuss Connecting Electricity Grids

Saudi Minister of Energy Prince Abdulaziz bin Salman and Iraqi Minister of Oil Ihsan Ismail discussed on Thursday connecting their electricity grids. The ministers explored issues of common interest in various energy fields. The meeting discussed ways to strengthen cooperation in the energy fields in order achieve shared leadership through…

Asharq Al-Awsat

Saudi Arabia Set for Oil Output Capacity above 13 Mln Bpd by 2027, Says Minister

Saudi Arabia is on track to lift oil production capacity by more than 1 million barrels per day to over 13 million barrels bpd by the end of 2026 or start of 2027, the energy minister said on Monday. Prince Abdulaziz bin Salman told an energy conference in Bahrain that…

Asharq Al-Awsat

Riyadh Seeks to Achieve Recovery Plan for International Aviation Sector

Saudi Arabia has revealed plans to strengthen its capabilities in the aviation sector over the next ten years, with the aim to become a leading center for aviation and air transport in the Middle East and the world. Under the patronage of the Custodian of the Two Holy Mosques, the…

Asharq Al-Awsat

Shura Council Approves Saudi-Iraqi Power Grid Link, Maritime Transport Agreements

The Saudi Shura Council approved on Monday a memorandum of understanding of joint cooperation in the field of electrical interconnection between Saudi Arabia and Iraq. The two countries signed an MoU to connect their national electricity grid in January. “The signing of this MoU comes in implementation of the directives…

Asharq Al-Awsat

Saudi Dussur Signs 4 Joint Ventures, Global Acquisition Deal

The Saudi Arabian Industrial Investments (Dussur) announced the signing of five new shareholders' agreements, including four joint ventures and one global acquisition deal. Dussur, owned by PIF, Aramco, and SABIC, signed the agreement at a special event attended by Minister of Energy and Investment Prince Abdulaziz bin Salman, Minister of…

Asharq Al-Awsat

Saudi Arabia, UAE Say OPEC+ Mission Is to Stabilize Market

Saudi Arabia and the UAE reiterated that OPEC+ has only a mission to "stabilize the market," adding that the alliance keeps politics out of its decision-making in favor of the "common good" of energy prices. Saudi Energy Minister Prince Abdulaziz bin Salman stressed that the focus is on balancing crude…

Reuters

UAE, Saudi say OPEC+ should not play politics

The energy ministers of Saudia Arabia and the United Arab Emirates, key members of OPEC+, said on Tuesday the producers' group should not engage in politics as pressure mounted on them to take action against Russia over its invasion of Ukraine.

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