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...The White House on Wednesday scrapped controversial oil leases in an Alaskan wildlife reserve that were awarded in the final days of the Trump administration as part of a broad effort to clamp down on Arctic...
...The kingdom has a long list of requests, from stronger military support to backing for a civilian nuclear programme....
...The kingdom held $108.1bn of Treasury securities in June, down $3.2bn from May and below the $119.7bn it held at the end of last year, according to data from the US Treasury department....
...wealth fund without approval from the kingdom....
...So much so that in 2011 the US Federal Reserve commissioned an international discussion paper which should have had the title: “How the f*ck can we forecast the price of oil accurately?”...
...follows Federal Reserve or Bank of England meetings)....
...The oil-rich Gulf kingdom had earlier emerged as the sole bidder for the game’s top prize after potential rival Australia opted not to enter the race....
...The Biden administration’s approval of ConocoPhillips’ Willow project in the National Petroleum Reserve in March drew accusations of betrayal from activists....
...Ole Hansen, head of commodity strategy at Saxo Bank, said that hedge fund interest in oil had been reignited by Saudi Arabia’s announcement at the start of this month that it would keep its voluntary production...
...The kingdom followed up on Saturday by increasing the price of its oil in Asia....
...McKinsey and BCG have been accused of withholding information on ties with Saudi Arabia, as a US congressional subpoena seeks documents related to their work with the kingdom’s sovereign wealth fund....
...people familiar with the kingdom’s oil strategy....
...Politically speaking, taking more oil out of the reserve would be challenging — unless outright shortages emerge. A rising oil price may indicate a degree of scarcity, but not the pumps running dry....
...At the same time, the US government will have only just started repurchasing 180mn barrels of crude to refill the strategic oil reserves that it depleted last year....
...Energy secretary Jennifer Granholm’s statement that it could take “years” to refill the reserve sent oil prices briefly lower....
...Oil is by far the largest source of government funds and the kingdom plans to remain among the top producers for decades, even if demand peaks in the coming years....
...The only production cut coming out of two days of talk will be shouldered by Saudi Arabia alone, which will remove 1mn barrels a day — or about 10 per cent of the kingdom’s current production — from the...
...Riyadh said on Tuesday that it had agreed to purchase drones from Turkey’s Baykar “with the aim of enhancing the readiness of the Kingdom’s armed forces and bolstering its defence and manufacturing capabilities...
...On to today’s newsletter, Myles spoke to ConocoPhillips’ chief executive, who says Biden is still no ally of the oil industry, even after approving the company’s big Alaskan oil project....
...Nor did the US’s decision to release millions of barrels of oil from its Strategic Petroleum Reserve last year in an effort to lower petrol prices....
...China, however, is not a supporter of oil prices rising too far. Citi expects Beijing could slow oil purchases for its own strategic reserves in the coming months....
...Media is a theme for the run of results this week, notably Disney. Since Bob Iger returned to the not so magic kingdom as chief executive in November, even more problems have come to the surface....
...And that means it’s helpful for governments and companies to hold on to plenty of reserves of dollar-denominated investments....
...It is one of a number of scents from Kingdom Scotland — and part of a wave of new independent British fragrance houses....
...Saudi Arabia gaming: The kingdom is spending billions in a bid to dominate the global games and esports sector as part of its push to diversify beyond oil....
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