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"Saudi Arabia" tag
india-israel-palestine-hamas-marketexpress-in

What the Israel Hamas War means for global and Indian economy

The Israel Hamas war has sent shockwaves across the world and the rapidly evolving conflict is being closely watched by global leaders. Tensions started when Hamas attacked Israel with over 5000 rockets from Gaza, a...

oil-covid-19-marketexpress-in

Saudi oil giant Aramco makes record profits in 2022

Saudi Arabia’s national oil producer Aramco achieved “record” profits totaling $161.1 billion, a nearly 50% increase. The firm saw prices skyrocket after Russia invaded Ukraine, leading to soaring global energy prices. Aramco, the mostly Saudi...

saudi-oil-aramco-profits-marketexpress-in

Saudi oil firm Aramco profits skyrocket amid global instability

Saudi energy giant Aramco says its profits have nearly doubled compared with last year. The firm, which is nearly fully state-owned, has seen both demand — and pump prices — soar. Saudi Arabia’s national oil...

opec-oil-strategy-economic-marketexpress-in

OPEC+ oil strategy risks derailing economic recovery from pandemic

The top oil producers have been holding back on a major production boost even as oil prices soar amid a supply crunch. With natural gas and coal prices at record highs, the oil price bump...

opec-oil-production-cut-marketexpress-in

Biggest ever oil production cut by OPEC and its allies

A previous standoff with Mexico was resolved as the deal was announced just hours before Asian markets opened on Monday. The cuts will be gradually eased until April 2022. OPEC, Russia and other oil-producing nations...

Saudi oil giant Aramco kicks off milestone IPO

Saudi Arabia has formally launched the initial public offering of stock in state-owned oil giant Aramco. The long-awaited IPO is part of plans to move the kingdom away from oil dependency. Saudi Aramco, the national...

crude-oil

Drama in the Oil Markets, But This Isn’t 2007 Anymore

The attacks on Saudi Arabia’s largest oil-processing plant at Abqaiq and its second-largest oil field in Khurais on Saturday knocked out about 5.7 million barrels a day of output – about half of Saudi production...

Uncertainty over oil price goes beyond possible cut to Saudi supply

It’s been a turbulent few days on international markets for oil investors. Yet while Saudi Arabian supply may be restored quickly, the attacks have raised questions that may impact the price of oil in the...

softbank

SoftBank creates ‘AI revolution’ fund without Saudi cash

SoftBank has apparently dropped Saudi Arabia as an investor for its new fund after the assassination of journalist Jamal Khashoggi. It has vowed to accelerate the “AI revolution” through investment in leading companies. Japan-based SoftBank...

qatar-opec-oil

Qatar exit exposes OPEC’s decreasing relevance

As Qatar leaves OPEC, a Troika of Saudi Arabia and non-OPEC members Russia and the US are likely to press ahead with their own interests. So, are the days of OPEC dominance numbered? When the head...

elon-musk-marketexpress-in

Musk reveals one driver behind taking-Tesla-private plan

Tesla CEO Elon Musk has unveiled a main source of funding for his go-private transaction, saying Saudi Arabia’s sovereign wealth fund has been pushing him to go ahead with a plan aimed at buying out...

Saudi Arabia Cut More than Commitment, Lifts Prices

Oil prices rallied yesterday following the EIA weekly data and are up further today. Despite the rise in US inventories (4.1 mln barrels) more than four times greater than expected, participants focused on other details....