Gold Silver Reports (GSR) – Crude Oil Rises Amid Shrinking U.S. Surplus as OPEC Prepares to Gather – Futures in New York briefly surged almost 3 percent on Wednesday to the highest since 2014. An Energy Information Administration report showed shrinking American petroleum surpluses and the first crude withdrawal from the largest U.S. storage complex in six weeks. The U.S. draw-downs underlined optimism that an OPEC-led effort to curb global supplies will be reinforced later this week when the cartel and allied producers gather in Saudi Arabia.
Saudi Arabia
Saudi Arabia Emerging-Market Tag Comes With Sobering History
Gold Silver Reports (GSR) – Saudi Arabia Emerging-Market Tag Comes With Sobering History — The Saudi stock benchmark advanced to the highest since 2015 last week before FTSE Russell said it’s classifying the country as a secondary emerging market, with actual inclusion set to happen in stages starting a year from now. MSCI Inc., which has more investors tracking its emerging-market indexes, may make a similar decision in June.
Saudi Arabia Maintains Share of Japan’s Oil Imports
Gold Silver Reports — Saudi Arabia accounted for 40% of Japan’s crude oil imports in the first half of 2017, unchanged from the share it enjoyed before OPEC agreed to cut oil production.
Russia Overtakes Saudi Arabia as World’s Top Crude Oil Producer
Gold Silver Reports — Russia overtook Saudi Arabia as the world’s largest crude producer in December, when both countries started restricting supplies ahead of agreed cuts with other global producers to curb the worst glut in decades.
OPEC Bids Farewell to Saudi Arabia
Gold Silver Reports – Saudi Arabian Oil Minister Ali al-Naimi, the architect of the 2014 switch in OPEC policy that’s since roiled the energy market, companies and entire economies from Mexico to Nigeria, is leaving his post.
Saudi Arabia Will only Freeze
Gold Silver Reports — Saudi Arabia will only freeze its Crude Oil output if Iran and other major producers do so, the kingdom’s deputy crown prince said,
Crudeoil Up as Saudis to Work With Producers
Gold Silver Reports -Crudeoil Up as Saudis to Work With Producers to curb market fluctuations and China’s central bank stepped up efforts to support the economy.