OPEC members have agreed on a combined increase in crude oil output of one million barrels per day, the oil minister of the cartel's kingpin Saudi Arabia said Friday.
International oil prices are posting steady increases due to higher energy consumption in the US, Saudi Arabia's continued commitment to production cuts and rising global political uncertainty.
Moscow and Riyadh are set to propose the prolongation of the Vienna agreement on oil output cuts for another nine months, the joint statement of the Russian and Saudi energy ministers said Monday.
Saudi Arabia wants 10 percent of its electricity to come from renewable sources within several years as part of a transformation in its power sector, the energy minister said Monday.
At least seven people died and many others were injured or trapped by heavy rain and floods that swept various regions of Saudi Arabia, press reports said on Tuesday.
Negative effects of climate change such as extreme drought are linked to deadly violence in countries such as Syria and Nigeria, and those still denying there's a problem are putting the entire planet at risk, the US secretary of state said.
OPEC has kept oil production quotas unchanged at 30 mln barrels per day, Saudi Arabia's Minister of Petroleum and Mineral Resources, Ali al-Naimi, said Friday.
Oil settled up about three percent on Wednesday as a weak dollar, fighting in Yemen and speculative buying boosted crude prices despite record-high US inventories.
Benchmark Brent oil for May delivery edged up 3.17 percent at $58.27 per barrel.
The price of oil could fall to $25 per barrel, head of Lukoil Vagit Alekperov told journalists on Friday.
Alekpetov said that based on the latest statements from Saudi Arabia, he cannot rule out a price drop to $25. He added that he expects significant price fluctuation this year, considering that by January 15 the price varied within a 10% range.
Rare snowfall in the north-west of Saudi Arabia on Sunday drew local
residents and visitors to scenic mountainous areas to enjoy the
spectacle. Snow fell intermittently from dawn in the city of Tabuk near the
Jordanian border, coating nearby mountains and roads with a sheet of
white.
Οι κάτοικοι της πόλης Ταμπούκ στα βόρειο-δυτικά της Σαουδικής Αραβίας ήρθαν αντιμέτωποι με το χιόνι, ένα πολύ σπάνιο φυσικό φαινόμενο για αυτή την περιοχή.
Στα βίντεο που μεταδίδει το διαραβικό τηλεοπτικό κανάλι «Al Arabiya», παρουσιάζονται οι εικόνες των αυτοκινήτων, που με δυσκολία περνούν μέσα από τους χιονισμένους δρόμους.
Για να δούνε αυτό το σπάνιο φαινόμενο, στο Ταμπούκ ήρθαν οι κάτοικοι των γειτονικών πόλεων.