Archives of “saudi arabia” tag
rssOPEC and its partners will consider increasing oil output at a meeting this week
Saudi Arabia and most others in the OPEC+ alliance support increasing output by around 2 million barrels a day say reports ahead of this week’s meeting.
- Key members of the Organization of the Petroleum Exporting Countries and its Russia-led allies will hold a virtual meeting on Wednesday 15 July

Saudi sovereign wealth fund has bought a big stake Boeing
Saudi Arabia’s $300 billion sovereign-wealth fund has invested further into US corporations.
- Facebook, Disney , Marriott, Cisco Systems, Citigroup, Bank of America, & Boeing
- “We actively seek strategic opportunities both in Saudi Arabia and globally that have strong potential to generate significant long-term returns while further benefiting the people of Saudi Arabia and driving the country’s economic growth”

Trump/Saudi Arabia’s king agreed on importance of stability in global energy
Trump, Saudi Arabia King speak: White House
- Pres. Trump and Saudi Arabia’s king in a conversation agreed on importance of stability in global energy markets
- The leaders reaffirmed strong US – Saudi defense partnership
Saudi Arabia’s sovereign-wealth fund pours $1bn into stakes in 4 European oil firms
- Saudi Arabia’s sovereign-wealth fund has amassed stakes worth roughly $1 billion in four major European oil companies
- buying assets it perceives as undervalued in a market depressed by the coronavirus pandemic and low oil prices
- stakes in Equinor AS A, Royal Dutch Shell PLC, Total SA and Eni SpA
- bought in recent weeks
- the fund may continue to make stock purchases
Saudi Arabia energy minister: WSJ story on cuts of output is “absurd and utter nonsense”
WSJ report suggested a potential 300K cut.
- Media report on Saudi Arabia considering break from OPEC+ alliance “absurd and utter nonsense”
- We will continue to act in a collective manner
- Saudi Arabia is in continuous communication and dialogue with all OPEC and OPEC+ partners
Saudi Arabia’s head says attacks on oil facilities were an act of war by Iran
Saudi Arabia’s Crown prince in an interview on US TV
- Said oil prices could spike to “unimaginably high numbers” if the world does not come together to deter Iran
- said he would prefer a political solution to a military one
- agreed with U.S. Secretary of State Mike Pompeo that the attacks were an act of war by Iran
- a war between Saudi Arabia and Iran would collapse the global economy
Markets eventually need to deal with the China reality
The situation in Saudi Arabia and focus on the Fed has took the spotlight away from China’s economic worries to start the week

- China’s Premier Li says maintaining economic growth of 6% or more is very difficult
- China Industrial Production in August 4.4% y/y (expected +5.2%)
- China Retail sales for August: 7.5% y/y (expected +7.9%)
Weekend oil news – Russia & Saudi Arabia agree to extend OPEC+ oil output curbs
Russian President Vladimir Putin, over the weekend, said Russia has agreed with Saudi Arabia to extend the deal with OPEC on reducing oil output.
- For 6 to 9 months
- “We will support the extension, both Russia and Saudi Arabia. As far as the length of the extension is concerned, we have yet to decide whether it will be six or nine months. Maybe it will be nine months,”

15 Facts About China That Will Blow Your Mind
1.) By 2025, China will build TEN New York-sized cities.
2.) By 2030, China will add more new city-dwellers than the entire U.S. population.
3.) China already consumes twice as much steel as the US, Europe and Japan combined.
4.) If the Chinese, one day, use as much oil per person as Americans, then the world will need seven more Saudi Arabia’s to meet their demand.
5.) There are already more Christians in China than Italy, and China is on track to become the largest center of Christianity in the world.
6.) Chinese are far more likely to believe in evolution than Americans.
7.) Chinese internet users are five times as likely to have blogs as Americans.
8.) China has 150% more soldiers than America does, plus a high tech ‘Kill Weapon’ the U.S. can’t deal with.
9.) China still hasn’t rid itself of Europe’s medieval plague.
10.) 40% of Chinese small businesses went bust or almost went bust during the world financial crisis.
11.) China executes three times as many people as the rest of the world COMBINED… and uses mobile execution vans for efficiency.
12.) China averages 274 protests PER DAY.
13.) When you buy Chinese stocks, you are basically financing the Chinese government. Eight of Shanghai’s top ten stocks are state-controlled arms of the government.
14.) 50% of counterfeit goods come from China.
15.) The majority of Chinese drink polluted water.