Oil Crisis

Putin vs Saudi Crown Prince In A Massive Oil Face-Off: Who Will Win?

World News | Anya Andrianova and Abeer Abu Omar, Bloomberg | Friday March 13, 2020

If the oil face-off between President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman turns on who has a stiffer fiscal backbone, it's the ruble that could help carry Russia to the finish line.

India Turns To United Arab Emirates For Extra Liquefied Petroleum Gas Imports: Officials

Business | Thomson Reuters | Tuesday September 24, 2019

The September 14 attacks on the Abqaiq and Khurais plants, some of the kingdom's biggest, halved the crude output of the world's top oil exporter, shutting down 5.7 million barrels per day of production.

US Warns India, Others Over Oil Export Sanctions On Venezuela

India News | Indo-Asian News Service | Thursday February 14, 2019

Venezuela Oil: The hardline US National Security Adviser John Bolton has issued a warning to India against buying Venezuelan oil, saying it "will not be forgotten" and that Venezuela's Foreign Minister Jorge Alberto Arreaza has countered that it was an attempt to impose Washington's global "dictatorship".

Sun, Sand, Religious Police: Holidays In Saudi Arabia May Be Hard Sell

World News | Vivian Nereim, Glen Carey, Bloomberg | Sunday February 26, 2017

It's the day before the grand opening of Shaden, a luxury desert camp in Saudi Arabia where air-conditioned tents look out on sandstone cliffs. A princely delegation is on its way. But the place isn't quite ready.

Tax-Free Days Ending For Saudis After Oil Slump With Royal Decree On VAT

World News | Agence France-Presse | Tuesday January 31, 2017

Tax-free living will soon be a thing of the past for Saudis after their cabinet, on Monday, approved an International Monetary Fund-backed value-added tax to be imposed across the Gulf following an oil slump.

The Untold Story Behind Saudi Arabia's 41-Year US Debt Secret

World News | Andrea Wong, Bloomberg | Tuesday May 31, 2016

It was July 1974. A steady predawn drizzle had given way to overcast skies when William Simon, newly appointed U.S. Treasury secretary, and his deputy, Gerry Parsky, stepped onto an 8 a.m. flight from Andrews Air Force Base. On board, the mood was tense. That year, the oil crisis had hit home.

After Benefits Of Cheap Oil, India Counts Cost Of Reduced Remittances

Business | Thomson Reuters | Wednesday May 25, 2016

Most of India's remittances come from the oil-rich Gulf, where some seven million Indians have been working, but more and more are being forced to come home. Earlier this year, 1,000 Indian professionals were laid off by Qatar Petroleum.

New Guard Rises In Saudi Arabia As Oil Crisis Forces Rethink

World News | Vivian Nereim, Bloomberg | Wednesday March 16, 2016

After a year of plunging oil prices, all eyes were on Ibrahim Al-Assaf, Saudi Arabia's finance minister for two decades, to deliver a budget that could restore confidence in the kingdom's finances.

Government Allocates Rs 4,948 Crore for Filling Strategic Oil Reserves

Business | Wednesday April 1, 2015

Taking advantage of lower oil prices, the government on Tuesday allocated Rs 4,948 crore to full the country's maiden strategic oil reserves to insulate itself from supply disruptions.

Oil Prices Extend Drop Over Supply Disruptions

Business | Friday July 4, 2014

Oil prices fell further Friday on easing concerns over supply disruptions, offsetting firm demand for crude in the United States and China, traders said.

Brent Slips Towards $111 as Libya PM Declares Oil Crisis Over

Business | Thursday July 3, 2014

Libya's acting prime minister, Abdullah al-Thinni, said the government had reached a deal with a rebel leader controlling oil ports to hand over the last two terminals and end a blockade, making around 500,000 more barrels a day of crude available for export.