Saudi wealth fund snaps up $7.7bn of blue-chip stocks

Investment vehicle chaired by crown prince takes advantage of knockdown share prices during pandemic

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ADNOC CEO says oil markets will rebalance over time

His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of the Abu Dhabi National Oil Company (ADNOC), says there are signs that oil markets have tightened in recent weeks and will rebalance over time.

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Kuwait, Saudi Arabia to shut shared Al-Khafji field just months after restart

Kuwait and Saudi Arabia agreed to stop production from the Al-Khafji crude oil field

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Russia faces challenges cutting oil output while keeping the industry alive

Russian oil producers are confronting their greatest challenge in decades as they try to fend off a historic price slump without permanently damaging their fields.

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Saudi Crude Flotilla Heads for Delays Unloading in U.S. Ports

Supertankers laden with Saudi Arabian crude heading to U.S. shores are taking longer than normal to discharge as smaller ships used in the process have become hard to find.

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Shell Gives Hope for Dividend Boost Once Oil Rout Is Over

Royal Dutch Shell Plc said it will be well placed to boost shareholder payouts once the oil market recovers, as it sought to appease investors after last month’s surprise dividend cut.

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Saudis add 1 MMbbl to output cut to help stabilize oil prices

Saudi Arabia announced an extra voluntary oil-production cut of 1 million barrels a day, bringing output to its lowest in 18 years as the kingdom tries to prop up a nascent recovery in energy markets.

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BP Midstream expects lower Q2 pipeline flows on coronavirus impact

BP Midstream reported first-quarter pipeline flow rates similar to the fourth quarter of 2019, but withdrew previous guidance and will no longer provide full-year guidance on pipeline flows due to extreme market uncertainties arising from the coronavirus pandemic, CEO Rip Zinsmeister said Friday.

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