Oil prices jumped on Thursday after OPEC and its oil-producing allies said the group would keep production largely steady through April. Saudi Arabia also said that it would extend its one million barrels per day voluntary production cut into April. The group approved the continuation of current production levels for April, except that Russia and […] Read more
Citizens across Saudi Arabia poured into stores once coronavirus lockdown restrictions were lifted in June, hoping to save money on non-perishable goods from food and clothing to electronics and cars ahead of the kingdom’s tripling of its value-added tax, or VAT. Riyadh announced the levy — which increased from 5% to 15% on July 1 […] Read more
Qatar’s Minister of State for Energy Affairs shared his thoughts on some of the major oil producers’ market moves in recent months, shedding disapproval on the March decision by Saudi Arabia and Russia to launch into a price war, which sent oil prices into free fall. “I think it was a very big mistake,” Saad […] Read more
