- The Citi projection is for both crude and finished (refined) petroleum products, not only crude oil. Saudi Arabia remains the world’s largest exporter of crude
By Tim Daiss – May 02, 2018
As global oil markets shift their attention from U.S. shale oil production back to a resurgent Saudi Arabia and Russia and geopolitical concerns bearing down on oil prices, Citigroup said last Wednesday that the U.S. is poised to surpass Saudi Arabia next year as the world’s largest exporter of crude and oil products.
The U.S. exported a record 8.3 million barrels per day (bpd) last week of crude oil and petroleum products, the government also said Wednesday. Top crude oil exporter Saudi Arabia’s, for its part, exported 9.3 million bpd in January, while Russia exported 7.4 million bpd, the bank added.
However, it should also be noted that the Citi projection is for both crude and finished (refined) petroleum products, not only crude oil. Saudi Arabia remains the world’s largest exporter of crude, though since January amid the OPEC/non-OPEC production cut agreement that figure has fallen. On April 10, the Saudi oil minister said that the kingdom planned to keep its crude oil shipments in May below 7 million bpd for the 12th consecutive month.
Saudi Arabia has also trimmed its oil production more than 100 percent of the output cuts it agreed to under the January 2017 production deal. In March, Saudi crude production was at 9.91 million bpd, below the deal’s output target of 10.058 million bpd.
Russia, however, also part of the global oil protection cut agreement, increased its crude oil production by 0.2 percent to 10.97 million bpd in March, compared to the previous month and an 11-month high.
( Daily Mail ) Saudi Arabia has agreed a deal with the Vatican to build churches for Christian worshippers in the Arab country, it is claimed by Middle Eastern media.
If confirmed, the supposed agreement between Cardinal Jean-Louis Tauran and Mohammed bin Abdel Karim Al-Issa of the Muslim World League would mark a historic first in Saudi history.
The cardinal has visited Saudi Arabia this year and met the royal family, urging the Muslim country to treat its citizens equally.
Under the alleged agreement the churches will be built alongside the establishment of a committee to improve relations between the two, Egypt Independent reports.
There was no immediate confirmation from the Vatican. MailOnline has approached Vatican and Saudi authorities for comment but they have not yet responded.
Saudi Arabia’s anti-extremism Etidal centre hosted Cardinal Tauran last month as the crown prince pushes for inter-religious exchange in the ultra-conservative Sunni kingdom.
Riyadh (AFP) – Saudi Crown Prince Mohammed bin Salman has denounced Iran’s supreme leader Ayatollah Ali Khamenei as the “new Hitler of the Middle East”, as tensions simmer between the regional rivals.
Saudi Arabia and Iran have engaged in a bitter war of words after a missile fired from Yemen was intercepted near Riyadh airport on November 4. The missile was claimed by Yemen’s Tehran-backed Huthi rebels.
Iran’s “supreme leader is the new Hitler of the Middle East”, Prince Mohammed told The New York Times in an interview published Thursday.
“We learned from Europe that appeasement doesn’t work. We don’t want the new Hitler in Iran to repeat what happened in Europe in the Middle East.”
Tehran has strongly denied supplying any missiles to the rebels, and President Hassan Rouhani has warned Saudi Arabia of Iran’s “might”.
Iran’s foreign ministry spokesman reacted scathingly to the interview, comparing Prince Mohammed to “a dictator” and urging him to “reflect on the fate” of some leaders in the Middle East in recent years.
Asleep on the floor of their ‘luxury’ five star prison 11 Saudi princes, government ministers and businessmen await their fate following their arrest in the biggest anti-corruption purge of the kingdom’s modern history.
In a photo obtained exclusively by DailyMail.com the men are seen gathered together at the Ritz Carlton Hotel in Riyadh, the Saudi capital, inside one of its glittering function rooms – wrapped in blankets and sleeping on thin mattresses.
Saudi sources say that among those photographed in the room are billionaire investor Prince Al-Waleed bin Talal, who is a nephew of the king, worth an estimated $18 billion and owns stakes in Twitter, Lyft and Citigroup.
The photograph was revealed as President Trump went all-in supporting the man who ordered the mass arrests, Crown prince Mohammed bin Salman, the ferociously ambitious 32-year-old heir to the throne.
In two tweets sent as he prepared to leave Japan for South Korea on a lengthy Asian tour, he said: ‘I have great confidence in King Salman and the Crown Prince of Saudi Arabia, they know exactly what they are doing….
‘….Some of those they are harshly treating have been “milking” their country for years!’
The intervention places the U.S. squarely behind the crown prince and may be partly personally motivated: Prince Al-Waleed was a vocal personal critic of Trump in the run-up to his election.
Read more: EXCLUSIVE: Humiliation of Saudi billionaire and his fellow princes as they are photographed sleeping on bare mattresses after ‘corruption’ arrests as Trump says they ‘have been milking their country for years!’
Prince Mohammed bin Salman, who was then deputy crown prince and is now crown prince – and the man behind the ‘anti-corruption’ crackdown
Billionaire Prince Al-Waleed bin Talal, one of the world’s highest-profile investors
Prince Adel Fakeih, who was minister of economy since April
Nasser bin Aqeel al-Tayyar was president of a large travel group
Prince Miteb bin Abdullah, who for the past four years had led the National Guard
Billionaire Saudi Prince Alwaleed Bin Talal arrested in corruption crackdown: Reports
- Alwaleed Bin Talal, a member of the Saudi royal family, was reportedly detained on Saturday.
- Saudi Arabia’s royal family ousted key officials and arrested others in a sweeping anti-corruption drive.
- Bin Talal is a very prominent investor with stakes in companies like Citigroup, Apple and Twitter, just to name a few.
Saudi Arabia’s King Salman removed a host of prominent officials in a sweeping crackdown, in which dozens of princes and former ministers were detained. News outlets, including Saudi-owned Al Arabiya, and The Wall Street Journal, reported Bin Talal was among those arrested. CNBC could not immediately confirm Bin Talal’s status.
QATAR PAID $1 BILLION RANSOM FOR ROYAL FAMILY KIDNAPPED BY IRANIAN OFFICIALS & AL QAEDA, SAUDI NOT HAPPY
Joe Simonson | HeatStreet
Some royal Qatari bros were just having a day out with the boys and their falcons when a bunch of unchill al Qaeda affiliates and Iranian security officials decided to kidnap them in the middle of a casual hunting trip in Iraq, according to a new report from the Financial Times.
When asked to comment, Qatari officials denied the allegations and said the recent blockade is “founded on allegations that have no basis in fact.” The ransom payment has been described as directly funding regional and international terrorists.
Sources for the FT say $700 million went to Iranian figures and regional Shia militias, while $200 to $300 million went to Syrian Islamist groups, with the majority going to Tahir al-Sham, a group tied to al Qaeda.
Although the kidnapping happened back in 2015, the deal was not finalized until last April.
Gotta side with Qatar here. If you’re out with your homies hunting God-knows-what in the Iraqi desert and get abducted by some terrorists, you gotta be relying on your boys to bail you out. The bro code is international: If you get arrested after getting too rowdy in a bar, you expect your friends to bail you out.
All right, now, here’s an example of I think a pretty significant achievement, at least effort, and a fake news attempt to destroy it. Story from the Wall Street Journal: “Saudi Arabia, U.A.E. Pledge $100 Million to World Bank’s Women Entrepreneurs Fund — Donation announced at event with Ivanka Trump, an advocate for businesswomen who proposed the fund.”
…Journalists are spreading fake news about Ivanka Trump on this particular issue. It was big on Twitter over the weekend. It was totally fake news.
There is no Ivanka fund. Neither she nor her family manage, benefit, or have any control over this fund that they are setting up. It is totally unlike the Clinton family and its foundation. The money will actually go toward a fund called Women Entrepreneurs Fund, which is run by the World Bank. It’s not gonna be run by Ivanka. Now, look, I know, we can talk about it being run by the World Bank. My point here is that this is something that no previous president has really seriously tried, is to tackle the cultural inequality that exists in this part of the world.
The fake news on Twitter was that Ivanka Trump was engaged in pay-to-play with Saudi Arabia and the United Arab Emirates. Stored it in the Wall Street Journal story I just headlined for you. “Saudi Arabia, U.A.E. pledge a hundred million dollars to World Bank’s Women Entrepreneurs Fund.” It says that Ivanka proposed the creation of the fund, but she didn’t.
She doesn’t control it. She doesn’t raise money for it. Some were even tweeting that its name was Ivanka’s Women Entrepreneurs Fund. Reporters picked up that tweet; CNN wrote that this is virtually identical to what Trump and others in the GOP criticized the Clinton Foundation for. It’s not even close. So there has been an attempt at fake news, but it blew up.