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2015-05-18 18:30:00

SAUDI & RUSSIA OIL VICTORY

SAUDI & RUSSIA OIL VICTORY

Six months ago, when OPEC decided to keep production steady in the face of a collapse in the price of oil, analysts guessed that Saudi Arabia might be trying to flush out the new competition that had cropped up in recent years, like American-based shale gas producers.

Well, it turns out they were right. In an interview with The Financial Times published on Wednesday, an unnamed Saudi official confirmed that this is part of the kingdom's strategy, saying, "There is no doubt about it, the price fall of the last several months has deterred investors away from expensive oil including US shale, deep offshore and heavy oils," He added that, "Saudi Arabia wants to extend the age…

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Tags: SAUDI, ARABIA, RUSSIA, OPEC, U.S., OIL, PRICES
Chronicle:
SAUDI RUSSIA OIL VICTORY
2019, June, 25, 13:10:00
OIL PRICE: NEAR $64 ANEW
Brent crude futures were down 12 cents at $64.74, U.S. crude futures were up 3 cents at $57.93 a barrel.
SAUDI RUSSIA OIL VICTORY
2019, June, 25, 13:00:00
US, IRAN SANCTIONS ANEW
the United States had never targeted an Iranian head of state before and that was a sign Trump was getting personal.
SAUDI RUSSIA OIL VICTORY
2019, June, 25, 12:55:00
US CAN CLOSE HORMUZ
U.S. President Donald Trump said on Monday that other countries, including China and Japan, should protect their own oil tankers in the Middle East.
SAUDI RUSSIA OIL VICTORY
2019, June, 25, 12:50:00
U.S. FINANCIAL RISKS UP
In addition, a number of medium-term risks are growing. The financial system appears healthy but vulnerabilities in leveraged corporates and, potentially, in the nonbank system are elevated by historical standards. An abrupt reversal of the recent supportive financial market conditions or a deepening of ongoing trade disputes represent material risks to the U.S. economy, with concomitant negative outward spillovers. The U.S. public debt-to-GDP ratio is on an unsustainable path and is expected to continue rising throughout the medium-term, as aging related spending rises.
SAUDI RUSSIA OIL VICTORY
2019, June, 25, 12:45:00
GAS DEMAND WILL UP 46%
Dr. Sentyurin also highlighted that - according to the Forum’s projections - by 2040, the demand for natural gas is expected to increase at an annual average pace of 1.7%, corresponding to overall growth of 46%. Most of this demand growth will come from the Asia-Pacific region, with Europe continuing to be an attractive market for many gas producers.
SAUDI RUSSIA OIL VICTORY
2019, June, 25, 12:35:00
CHINA, BRITAIN NUCLEAR TECHNOLOGIES
UK-based research and development company Innovative Physics Ltd (IPL) and China Environmental Protection Company Ltd (CEPC) have signed an agreement on technologies and skills to further improve the safety of nuclear power plants in China and overseas.
SAUDI RUSSIA OIL VICTORY
2019, June, 24, 12:30:00
OIL PRICE: NEAR $65 YET
Brent crude futures rose 0.7% to $65.66 per barrel, near Friday’s three-week high of $65.76, while U.S. crude futures were up 1.1% at $58.07, standing at its highest in over three weeks.
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