Hints and tips:
...“We are excited by the prospect of expanding our presence in the important Chinese market,” said Aramco executive Mohammed Al Qahtani....
...Crown Prince Mohammed bin Salman wants to use oil profits to fund an ambitious programme to modernise the kingdom and diversify the economy....
...The IEA predicts oil demand will grow by 1.2mn b/d, about half the pace of 2023, while Opec believes demand growth will be higher at 2.2mn b/d....
...Saudi Arabia is, however, already pumping close to 11mn b/d of crude, near its maximum capacity is about 12mn b/d. There are questions in the oil industry over how long that level could be maintained....
...cut by 211,000 b/d and 135,000 b/d respectively....
...At present, Saudi Arabia produces about 9mn b/d, compared with a maximum of about 12mn b/d....
...You would think it was part of a script from a budget B-movie if it wasn’t so true”....
...But Russia’s output has dropped since the start of the Ukraine war, falling from about 11mn b/d in March to an average of 10mn b/d in April, according to data provider OilX....
...Its output has been reduced from about 10.5mn b/d in April to about 9mn b/d, through a combination of Opec+ mandated production targets and its voluntary cuts....
...Its production target will increase by around 200,000 b/d from January to 3.2mn b/d....
...Iraq will reduce crude production by 211,000 b/d, the United Arab Emirates by 144,000 b/d, Kuwait by 128,000 b/d, Kazakhstan by 78,000 b/d, Algeria by 48,000 b/d and Oman by 40,000 b/d, according to statements...
...Novak’s office said the 500,000 b/d cut would be in addition to cuts already pledged. Saudi Arabia’s own output will remain at about 9mn b/d....
...Down the street from Laith’s house, Mohammed Darwish, who turned 16 in an Israeli prison, plays with his younger sisters while his mother recounts his arrest....
...Saudi Arabia supplied approximately 1.7mn b/d in the first two months of the year, down from about 1.8mn b/d a year earlier....
...Perhaps the most amusing piece this year was James B. Stewart’s examination of the apparently dodgy goings-on at high-end New York wine seller Sherry-Lehmann....
...People close to the talks said the cuts could total 500,000 b/d to 1mn b/d for the group as a whole, but Saudi Arabia may make a further unilateral production cut in addition....
...The actual fall in output from the Opec+ group’s lowered target is likely to be closer to 1mn b/d, rather than the headline of 2mn b/d, as many of its weaker members have struggled to hit production targets...
...b/d of oil equivalent by 2028....
...As for the films, their plots are up there with the worst B-movies Hollywood has to offer....
...News clipsM-B-Z . . . They call him MBZ because it’s easy to remember. His name is Sheikh Mohammed bin Zayed al-Nahyan . . ....
...In August, as the US state department approved a $3bn missile sale for the kingdom’s Patriot air defence systems, Opec+ raised its output target by just 100,000 b/d, one of the smallest increases in its...
...Joe Biden’s fist-bumping visit to Saudi crown prince Mohammed bin Salman was always a questionable exercise....
...Opec has since trimmed that back by 100,000 b/d and the IEA has lopped 500,000 b/d from its forecast for 2023, to 1.6mn....
...The International Energy Agency forecasts that global oil demand may fall from more than 100mn b/d today to 24mn b/d in 2050 if the world successfully cuts emissions to net zero by then....
...But Saudi energy minister Abdulaziz bin Salman, half brother of crown prince Mohammed bin Salman, made clear in August that enough was enough....
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