The Saudis are closely monitoring oil-market developments after the U.S. announcement regarding export sanctions on Iran, Al-Falih said in a statement. “In the next few weeks, the Kingdom will be consulting closely with other producing countries and key oil consuming nations to ensure a well-balanced and stable oil market, for the benefits of producers and consumers as well as the stability of the world economy.
The current set of waivers — issued to China, Greece, India, Italy, Japan, South Korea, Taiwan and Turkey — are to expire on May 2. The Saudis and the U.A.E. can increase their combined production by about 1.5 million barrels a day within a short period, according to people with knowledge of the matter, asking not to be identified because the matter is confidential.
Saudi Arabia will assess the impact of the U.S. decision on the oil market before raising output, according to one of the people. The biggest producer in the Organization of Petroleum Exporting Countries can pump an additional 1 million barrels a day within a short period, the person said. Saudi Arabia produced 9.82 million barrels a day in March, according to data compiled by Bloomberg.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: Credit Suisse Seeks to Seize Nigerian Oil Trader’s Three London HomesCredit Suisse Group AG has already taken Nigerian oil trader Igho Sanomi’s private jet. Now it’s coming for his London apartments.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: OPEC Gambles With Success of Production Cuts as $80 Oil LoomsAfter managing to revive oil prices through production cutbacks, OPEC now risks squandering its victory again by letting crude surge too high.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Cartoon Friday: Rico
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: SA Decline Worst of Nations Not at War, Model ShowsSouth Africa’s performance on a range of social, economic and governance measures deteriorated more in the past 12 years than any other nation not at war, according to Eunomix Business & Economics Ltd. please give us another chance MYANC such an achievement. Thanks to the ANC. But don’t for one moment think that the EFF will be saviors. They will be worse. This says it ALL!
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Thursday April 18: Five Things You Need to Know to Start Your DayChina and the U.S. schedule yet more tariff talks. Corporate earnings, not trade, remain the focus for markets. And a special note to readers: We're planning to make the redacted Mueller report available soon after the Department of Justice releases it on Thursday. Here are some of this morning’s key stories.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: S. Africa Reserve Bank Says Too Early to Claim Inflation WinSouth Africa’s central bank says it’s premature to claim victory in the war against inflation and sees price growth stabilizing at 4.5 percent only by the end of 2021.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Pinterest Tops Targeted IPO Range to Raise $1.4 BillionPinterest Inc. raised about $1.4 billion in its initial public offering, pricing its shares above a targeted range as the year’s tech unicorn stampede gains momentum.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK - HEALTH : High noon for Tiger Brands as summons issued in listeriosis class action lawsuitThe deadly listeriosis outbreak, which hit South Africa hard, is starting to play out before the courts. South African human rights attorney Richard Spoor, who is well-known for his razor-sharp tongue, is hauling Tiger Brands to court by the tail. He is asking the high court to award members of a class action lawsuit punitive or constitutional damages.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Musk Makes Self-Driving Technology Tesla’s Costly New CallingTesla Inc.’s calling used to be bringing affordable electric cars to the masses. Elon Musk is now ripping up the script, vowing to pair self-driving technology with a sharing service that will make it crazy for consumers to buy other cars.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: A good cop-bad cop approach to the world’s, and South Africa’s, economic growthThe world economy is at a crossroads, with the IMF warning of a synchronised downturn this year but pointing to a 2020 turnaround if policymakers get it right. However, it will take more than playing the good cop to get there, for South Africa in particular. Policymakers will also need to play the bad cop if they want to gear countries for the deeper structural changes underway and too important to be ignored.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Apple Puts Need for 5G Ahead of Legal Fight in Qualcomm DealApple Inc. put its flagship product, the iPhone, ahead of distaste for the way Qualcomm Inc. does business in settling a bitter, two-year legal dispute with the chipmaker.
Source: dailymaverick - 🏆 3. / 84 Read more »