Saudi Arabia Oil Archives - The American Energy News

Saudi Aramco expects oil prices to rise by end of 2016

Saudi Aramco CEO says gap between supply and demand has been shrinking RIYADH, Saudi Arabia _ Saudi Arabia’s state-owned oil giant expects oil prices will climb toward the end the year, saying the current price of around $30 a barrel is not sustainable. Saudi Aramco’s CEO Amin Nasser, speaking Tuesday at an investment conference in […]

OPEC lowers targets, defiant Saudi Arabia, Iran to pump more crude

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Current prices below most OPEC members’ break-even point Defying OPEC attempts to project unity, Iran and Saudi Arabia went into a meeting of the 12-nation cartel Friday declaring that they would not cede authority to the organization over how much oil they could sell. Though oil ministers of the Organization of the Petroleum Exporting Countries were expected to keep

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