oilproduction
State oil company Saudi Aramco – Saudi Arabian Oil Co (TADAWUL:2222) – is set to increase investments by 50% to boost oil output this year, amid skyrocketing prices and West outcry. The company doubled its profit in 2021. InvestmentsAs reported by CNN Business, Aramco announced it would increase its capital expenditure to $40-50 billion this year, from $31.9 billion in 2021 or an 18% boost from 2020. This means a 50% increase at the middle of the guidance range. Q4 2021 hedge fund letters, conferences and more The West has drawn bans and curbs on Russian oil and gas imports amid the invasion o...
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After a delay, OPEC+ is discussing oil production for 2021. Sources told Reuters this morning that the organization is talking about rolling over the current oil cuts into next month and then gradually increasing output by approximately 500,000 barrels a day starting in February. OPEC+ nears a deal on oil productionAccording to Bloomberg, Saudi Arabia and Russia have worked out the plan to hold the supply restrictions in place in January and add about 500,000 barrels per day to the market in each month between February and May. OPEC+ was moving toward this deal on oil production today, althoug...
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