Energy

Global oil prices tumbled to six-month lows in June after an array of new supply data stoked pervasive doubts over OPEC’s strategy to reduce the massive stockpile weighing on markets. That the decision by OPEC and its nonmember partners to rein in production to hasten market rebalancing would lead to higher U.S. production was widely...

On May 10, 2017, AGSIW brought together thought leaders from the Gulf Arab states, Europe, and the United States to discuss Saudi Arabia at a transformational moment in its history.

OPEC and its non-OPEC oil producing counterparts cemented a new era of cooperation at their May 25 meeting in Vienna, reaching a unanimous decision to extend their production agreement aimed at reducing global oil stock levels through March 2018. Initial projections that oil inventories would decline to the five-year average, the index for market stability...

Global oil markets remain volatile ahead of OPEC’s May 25 ministerial meeting on expectations that the producer group and its non-OPEC partners will extend production cuts until the end of 2017. The alliance agreed to reduce production by a collective 1.8 million barrels per day (mb/d) from January to June in a bid to rebalance...

The euphoria that accompanied the launch of “Saudi Vision 2030” has begun to dim in the face of fundamental challenges. Deputy Crown Prince Mohammed Bin Salman Bin Abdelaziz Al-Saud’s ambitious plan to steer the country’s economy away from oil dependency and through an era of austerity seemed to offer a much-needed roadmap for overdue reforms....

This post is part of an AGSIW series on Saudi Vision 2030, a sweeping set of programs and reforms adopted by the Saudi government to be implemented by 2030. Saudi Arabia is powering ahead with ambitious plans to reorganize its massive energy sector. The restructuring is part of its strategic plan to reduce domestic oil dependence and adopt...

On April 27, AGSIW was pleased to host a roundtable discussion with the King Abdullah Petroleum Studies and Research Center, a research institute in Saudi Arabia focusing on energy economics, policy, and technology. The Gulf Cooperation Council power markets have experienced considerable changes over the last three years. Oil glut induced fiscal austerity has led...

Global demand for oil has firmly eclipsed supplies in the first quarter of 2017, according to the latest data, showing progress in OPEC’s efforts to rebalance oil markets, and reversing the weaker fundamentals that pressured prices lower from 2014-16. However, oil prices remain volatile, nonetheless, as traders continue to worry that resurgent shale oil production...