Tag: Saudi Arabia

Saudi Arabia’s critical pipeline to the Red Sea suffered a recent attack from Iran, cutting throughput by 700,000 barrels per day.

Qatar halted production of liquefied natural gas on Monday and Saudi Arabia shut its biggest domestic oil refinery after a drone strike, a source said, as Israeli and U.S. strikes and Iranian retaliation triggered precautionary shutdowns of oil and gas facilities across the Middle East.

German Chancellor Friedrich Merz headed to Saudi Arabia on Wednesday to kick off a Gulf tour as the biggest EU economy seeks to diversify its key trade and energy partnerships.

President Donald Trump on Tuesday praised Saudi Arabia and its leaders after the White House announced a commitment by the kingdom to invest $600 billion in a series of deals with the U.S.

Top oil exporter Saudi Arabia cut prices for all crude grades it sells to Asian customers for a second month in a row in August amid robust supply from countries outside OPEC and uncertainties over the demand outlook.

Saudi Arabia’s fourth-quarter real GDP fell 3.7% year-on-year, according to government flash updates.

Saudi Arabia announced a 30-year tax exemption package for foreign companies establishing their regional headquarters in the kingdom.

Oil rose on Monday after top exporters Saudi Arabia and Russia announced supply cuts for August, overshadowing concern over a global economic slowdown and the potential for further increases to U.S. interest rates.

Oil prices rose following OPEC kingpin Saudi Arabia’s decision to cut production by another million barrels per day.