Tag: Organization of the Petroleum Exporting Countries

Saudi Aramco Shares Surge in Trading Debut

Shares of Saudi Aramco surged in their trading debut on Wednesday, further solidifying the oil giant’s status as the world’s most valuable company and bringing it closer to achieving the Saudi royal family’s aim of making it a $2 trillion business. The shares rose 10 percent within seconds after their debut on the Saudi stock […]

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Saudi Aramco Surges in Its Trading Debut

Shares of Saudi Aramco, the world’s largest oil company, made their debut on Wednesday on the Saudi stock exchange in Riyadh. Within seconds of the start of trading, the shares rose 10 percent, the daily maximum allowed by the exchange. The launch is expected to raise at least $25.6 billion, making it the largest initial […]

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Flood of Oil Is Coming, Complicating Efforts to Fight Global Warming

HOUSTON — A surge of oil production is coming, whether the world needs it or not. The flood of crude will arrive even as concerns about climate change are growing and worldwide oil demand is slowing. And it is not coming from the usual producers, but from Brazil, Canada, Norway and Guyana — countries that […]

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Attack on Saudi Oil Facility Is Seen as Short-Term Disruption

HOUSTON — The drone attack on one of Saudi Arabia’s most important oil facilities could cripple a portion of Saudi petroleum exports for days or even weeks and send energy prices higher. But experts say that a severe shock to energy markets and the world economy is unlikely. The attack on the Abqaiq processing facility, […]

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OPEC to Keep Propping Up Oil Prices by Extending Production Cuts Into ’20

VIENNA — OPEC nations on Monday agreed to continue their production cuts until early next year, papering over their differences in order to continue an effort that analysts say is propping up prices while demand for oil is weakening. The cuts, by the Organization of the Petroleum Exporting Countries, equal about 1.2 million barrels a […]

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U.S. Oil Companies Find Energy Independence Isn’t So Profitable

HOUSTON — For decades, elected leaders and corporate executives have chased a dream of independence from unstable or unfriendly foreign oil producers. Mission accomplished: Oil companies are producing record amounts of crude oil and natural gas in the United States and have become major exporters. Yet the companies themselves are finding little to love about […]

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OPEC and Russia Seek to Support the Price of Oil

The Organization of the Petroleum Exporting Countries doesn’t stir as much fear in oil markets it once did, but it still has the power the shake up oil prices. On Monday, officials from OPEC and other oil producers including Russia will begin two days of meetings in Vienna. The producers are all but certain to […]

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