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01.05.26 - 06:00
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Saudi Arabia Public Investment Fund To Stop Funding LIV Golf After 2026 Season (ZeroHedge)
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Saudi Arabia Public Investment Fund To Stop Funding LIV Golf After 2026 Season
LIV Golf is preparing to inform players and staff that its main financial backer, Saudi Arabia's Public Investment Fund, will stop funding the league after the 2026 season, according to Golfweek. The announcement—expected midweek—would open the door for CEO Scott O'Neil to pursue new investment to keep the tour running.
Since launching in 2022 as a challenger to the PGA Tour, the circuit has reportedly burned through more than $5 billion while failing to gain meaningful U.S. viewership. Broadcast deals with The CW Network and later Fox did little to improve ratings.
Uncertainty around funding has been building. In April, O'Neil acknowledged the league is only financed through this season, saying future survival depends on securing new backers—even as he publicly maintained LIV is in its best position yet.
Golfweek writes that the timing aligns with a broader shift by PIF, led by Yasir Al-Rumayyan, toward pr...
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29.04.26 - 11:31
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After Record $19.50 Premium, Saudis Eye Sharp Cut To June Asia Prices (ZeroHedge)
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After Record $19.50 Premium, Saudis Eye Sharp Cut To June Asia Prices
Submitted by Charles Kennedy of OilPrice.com
The world's top crude exporter, Saudi Arabia, is expected to slash its official selling prices (OSPs) for crude loading for Asia in June from the record-highs for May as the premiums of the Middle Eastern benchmarks eased this month.
Saudi oil giant Aramco is widely expected to announce in early May a reduction of the OSP of the flagship Arab Light crude by between $5 and $12 per barrel compared to the Oman/Dubai average, off which Middle Eastern producers price their crude going to Asia, a Reuters survey of industry sources showed on Tuesday.
The Arab Light grade could see its OSP falling to a premium of $7.50-$14.50 over the average of the Oman and Dubai benchmarks for June, compared to a record-high premium of $19.50 for loadings for Asia in May.
In early April, Saudi Arabia hiked the price of Arab Light loading for Asia in May to a record-high premium over the Middle Eastern ...
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