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The Latest Breaking News from Abdulaziz bin Salman

Crude Settles Higher as Saudi Arabia Warns OPEC+ Production Increases Can Be Reversed

July WTI crude oil (CLN24 ) Thursday closed up +1.48 (+2.00%), and July RBOB gasoline (RBN24 ) closed up +4.39 (+1.87%). Crude oil and gasoline prices posted moderate gains on Thursday. Crude rose Thursday based on comments from Saudi Arabia Energy Minister Prince Abdulaziz bin Salman, who said OPEC+ could...

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Crude Prices Climb as Saudi Arabia Warns OPEC+ Production Changes Can Be Reversed

July WTI crude oil (CLN24 ) today is up +1.17 (+1.58%), and July RBOB gasoline (RBN24 ) is up +2.71 (+1.15%). Crude oil and gasoline prices today are moderately higher. Crude is moving higher today based on comments from Saudi Arabia Energy Minister Prince Abdulaziz bin Salman, who said OPEC+...

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Climate Deal Won't Have Immediate Impact On Gulf Oil

An agreement to "transition away" from fossil fuels may be a landmark moment but don't expect quick changes among the major producers of the Gulf, where the deal was hammered out.

International Business Times

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Reason

Saudi Arabia Says 'Absolutely Not' To Oil Phaseout At COP28

Saudi Arabia's energy minister has slammed the door shut on agreeing to phase out fossil fuels at the UN's COP28 climate talks, setting the stage for difficult negotiations in Dubai.

International Business Times

Saudi Arabia says it plans tougher IAEA checks on its nuclear activities

Saudi Arabia has said that it has decided to end light-touch oversight of its nuclear activities by the UN atomic watchdog and switch to full-blown safeguards, a change the agency has been demanding for years.

Radio France Internationale

Crude Oil Prices See Support as Saudi Arabia Expected to Extend its Production Cut

August WTI crude oil (CLQ23 ) is up +0.64 (+0.92%), and Aug RBOB gasoline (RBQ23 ) is up +0.0116 (+0.46%). Crude oil prices are seeing support from today's rally in stocks, which supports the outlook for the economy and energy demand. Crude oil is getting a boost today from the...

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Stock Market Today: Debt Ceiling Anxiety Weighs on Stocks

While a Monday night meeting between Biden and McCarthy was "productive," there are no signs the two sides are nearing a deal.

Kiplinger

Saudi Arabia, Russia Stress Commitment to OPEC+ Decision on Oil Output Cuts

Saudi Minister of Energy Prince Abdulaziz bin Salman met in Riyadh on Thursday with Russian Deputy Prime Minister Alexander Novak who is visiting the Kingdom, the Saudi Press Agency reported. They discussed global oil markets and the efforts of OPEC+ to promote market stability, SPA said. They also stressed their…

Asharq Al-Awsat

Saudi Arabia Says Will Not Sell Oil to Any Country That Imposes Price Cap on Its Supply

Saudi Energy Minister Prince Abdulaziz bin Salman said on Tuesday that the Kingdom will not sell oil to any country that attempts to impose a price cap on its supplies, stressing that the Kingdom has embarked on expanding its capacity to 13.3 million b/d by 2027.

Asharq Al-Awsat

Saudi Energy Minister, Tuvalu Prime Minister Discuss Energy Cooperation

Saudi Energy Minister Prince Abdulaziz bin Salman met with Prime Minister of Tuvalu Kausea Natano in Riyadh. During the meeting, the two officials discussed bilateral relations between the two countries, prospects for joint cooperation in energy fields, and ways to develop ties. They also reviewed the Kingdom's initiatives to preserve…

Asharq Al-Awsat

Double Standards in Climate Action Impede Energy Transformation, Sustainability

Saudi Energy Minister Prince Abdulaziz bin Salman recently announced an investment of around one trillion riyals ($266.40 billion) in clean energy generation. In late 2022, the UAE announced an investment of $100 billion, in partnership with the United State, to implement clean energy projects in the two countries and around…

Asharq Al-Awsat

Saudi Oil Exports Rose to 7.4 Mln Bpd in December

Decisions by OPEC+ are not politicized and are based on market fundamentals, Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said on Monday, adding that the alliance of oil producers is sufficiently flexible to adjust policy as needed. Meanwhile, Saudi Arabia’s crude oil exports in December 2022 rose by 157,000…

Asharq Al-Awsat

Saudi Energy Minister Says OPEC+ Deal Will Continue Until End of Year

Saudi Energy Minister Prince Abdulaziz bin Salman said the current OPEC+ deal on oil output would be locked in until the end of the year. In an interview published by Energy Aspects, the minister said the oil group can't increase output based solely on initial signals. OPEC+ agreed in October…

Asharq Al-Awsat

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Saudi Govt Agencies Reveal Products, Programs for Digital Transformation

The first day of the LEAP 2023 conference in Riyadh on Monday witnessed a number of agreements and the launch of a package of platforms and digital products to maximize business. Saudi Minister of Energy Prince Abdulaziz bin Salman inaugurated a digital platform specialized in providing a number of services…

Asharq Al-Awsat

IAEE Conference Discusses Opportunities for Advancing ‘Hydrogen Economy’

Hosted for the first time in the MENA region, the 44th International Association for Energy Economics (IAEE) Conference in Riyadh reviewed the risks of volatility in global oil and gas markets. Participants at the summit also discussed threats to future opportunities offered by the hydrogen economy. Prince Abdulaziz bin Salman,…

Asharq Al-Awsat

Saudi Energy Minister Calls for Trusting OPEC+

Saudi Energy Minister Prince Abdulaziz bin Salman reiterated on Saturday that OPEC+ does not interfere in politics. "We are a responsible group of countries, we do take policy issues relevant to energy and oil markets in a total silo and we don't engage ourselves in political issues," the prince said.…

Asharq Al-Awsat

Saudi Arabia, France Sign MoU on Energy Cooperation

Saudi Energy Minister Prince Abdulaziz bin Salman held talks in Riyadh on Thursday with French Foreign Minister Catherine Colonna, who was on an official visit to the Kingdom. They discussed prospects of cooperation in peaceful uses of nuclear energy and future opportunities in various energy fields, including renewable energy, clean…

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Asharq Al-Awsat

Saudi Crown Prince Meets with French FM

Prince Mohammed bin Salman, Crown Prince and Prime Minister, met on Thursday with French Minister for Europe and Foreign Affairs Catherine Colonna. They discussed ways to enhance bilateral relations in all fields, in addition to the latest regional and international developments. The meeting was attended by Saudi Energy Minister Prince…

Asharq Al-Awsat

Saudi Energy Minister: We Aim to Boost Oil, Gas Production, Plan to Export Hydrogen

Saudi Energy Minister Prince Abdulaziz bin Salman announced the Kingdom’s strategic plans to increase its production of oil, gas and clean energy. “We in the Kingdom aim to increase oil and gas production, and we plan to export hydrogen,” said Prince Abdulaziz on the sidelines of the 7th edition of…

Asharq Al-Awsat

Saudi Energy Minister: Kingdom Intends to Utilize its National Uranium Resources

Saudi Arabia plans to use domestically-sourced uranium to build up its nuclear power industry, Energy Minister Prince Abdulaziz bin Salman said on Wednesday. He added that recent exploration had shown a diverse portfolio of uranium in the Gulf Arab state, the world's top oil exporter. Saudi Arabia has a nascent…

Asharq Al-Awsat

Saudi Arabia Approves Energy Supply Law

The Saudi Council of Ministers approved on Tuesday the Energy Supply law, which complements the sector’s legislative system based on the best international practices. In this regard, Saudi Energy Minister Prince Abdulaziz bin Salman noted that the law “aims to enable the efforts of restructuring the energy sector, in order…

Asharq Al-Awsat

Saudi Arabia, Japan Sign Clean Energy Cooperation Document

Saudi Arabia and Japan signed a memorandum of cooperation (MoC) on Sunday in the fields of the circular carbon economy, carbon recycling, clean hydrogen and fuel ammonia, the Saudi Energy Ministry said on Twitter. The MoC was signed by Saudi Energy Minister Prince Abdulaziz bin Salman and Japanese Industry Minister…

Asharq Al-Awsat

Saudi Energy Minister: OPEC+’s More Accurate Predictions Are Due to Focusing on Market Fundamentals

Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz Al Saud stressed on Tuesday that OPEC+ members leave politics out of the decision making process and out of their assessments and forecasting. In an interview with the Saudi Press Agency (SPA), he added: “As I have emphasized multiple times, in…

Asharq Al-Awsat

Saudi Arabia Targets Tuwaiq with $760 Bn Projects

Saudi Minister of Energy Prince Abdulaziz bin Salman, Minister of Investment Khalid al-Falih, and the National Center for Industrial Development CEO, Abdul Rahman al-Qirtas, signed an agreement to support the sustainable growth of the Kingdom’s manufacturing sector. The partnership takes Vision 2030 ambitions a step closer towards economic diversification and…

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