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26.01.26 - 20:51
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Saudi Aramco Dismisses Oil Glut Narrative As "Seriously Exaggerated" (ZeroHedge)
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Saudi Aramco Dismisses Oil Glut Narrative As "Seriously Exaggerated"
Authored by Tsvetana Paraskova via OilPrice.com,
Forecasts of a massive oil glut are seriously exaggerated as demand keeps rising and global stocks are below the five-year average, according to Saudi Aramco's chief executive officer, Amin Nasser.
“Oil glut predictions are seriously exaggerated,” Nasser said on the sidelines of the World Economic Forum in Davos, Switzerland, last week as carried by Reuters.
Global oil stocks are low, while the amassed barrels in floating storage on tankers are mostly sanctioned supplies, the CEO of the world's biggest oil firm and top crude exporter said.
Moreover, spare capacity has dwindled over the past year, also limiting potential efforts to boost output in case of major supply disruptions, according to Nasser.
“It (spare capacity) is at 2.5% and we need a minimum of 3%. If OPEC+ further unwinds cuts, spare capacity will fall even further and we will need ...
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26.01.26 - 12:24
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Saudi Arabia, Asian Council Delay 2029 Winter Games (Bloomberg)
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Saudi Arabia and the Olympic Council of Asia have agreed to postpone the 2029 Asian Winter Games. They were set to take place at a desert ski resort in the planned Saudi mega city of Neom. Bloomberg's Executive Editor for Middle East, North Africa and Russia spoke to Joumanna Bercetche on Horizons Middle East and Africa. (Source: Bloomberg)...
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26.01.26 - 05:57
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Umweltminister Schneider reist nach Saudi-Arabien (DPA-AFX)
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BERLIN/RIAD (dpa-AFX) - Bundesumweltminister Carsten Schneider bricht an diesem Montag zu einer zweitägigen Reise nach Saudi-Arabien auf. In der Hauptstadt Riad will der SPD-Politiker mit Regierungsvertretern über klima- und umweltpolitische Fragen sprechen. ......
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23.01.26 - 08:06
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Saudi Economy Min on geopolitics, Vision 2030 (Bloomberg)
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Saudi Economy Minister Alibrahim spoke about growing geopolitical tensions as well as the current assessment of Vision 2030 with Joumanna Bercetche on the sidelines of the 2026 World Economic Forum in Davos, Switzerland.
(Source: Bloomberg)...
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22.01.26 - 19:48
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Saudis Focus on ′Wiser′ Spending as Oil Slide Crimps Revenue (Bloomberg)
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Saudi Arabian officials sharpened their messaging on the government's fiscal shift at the World Economic Forum in Davos, saying the kingdom is focused now more than ever before on “wiser” spending as it works to fine tune its strategy after years of going “full throttle.”...
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