Oil prices have begun to rise this week. Driven by the rise in the stock market, the price of Brent crude oil rose to $55.04 per barrel, the highest level since February last year. Saudi Arabia’s plan to unilaterally cut production has made investors optimistic, while the general rise in the market has further promoted optimism.
An attack at Yemen’s Aden airport left at least 26 dead and more than 50 injured. The images from the airport in Aden, a port city in the south of the country, show huge columns of smoke. The causes of the explosions are not yet known, but some witnesses describe machine gun fire and the launching of mortars.
Norway announced the internet to increase the oil production and export starting January 2021. Hence, this will be a 3rd nation, which will not follow the OPEC+ agreement. The OPEC+ agreement called for a decrease in crude oil output by an initial 9.7 million barrels per day (b/d) that gradually tapers through April 2022, the end of the current agreement period.
A senior US administration official said on, Sunday that Jared Kushner, senior adviser to US President Donald Trump, will meet within the next few days, the Saudi Crown Prince Mohammed bin Salman in the Saudi city of NEOM and with the Emir of Qatar Sheikh Tamim bin Hamad Al Thani in Doha.
The slaying of Iranian nuclear scientist, Mohsen Fakhrizadeh, has threatened to escalate tensions between the United States and Iran. According to reports by Iranian officials, the scientist was ambushed as he headed to his home in Absard. The scheme, which was meticulously planned, involved a squad of over 50 people.
A friend of Jamal Khashoggi said today that the Saudi journalist received threats from an adviser to Crown Prince Mohammed bin Salman. Twenty Saudis, including two relatives of MBS, are on trial in absentia in Istanbul for the assassination of Khashoggi at the Saudi consulate in Istanbul in October 2018.
A senior US government official says Donald Trump will attend the G20 summit. This year, the summit of the leaders of the top 20 economies in the world will be held in Saudi Arabia virtually. The G20 countries include the top seven economies of the world and 13 emerging powers, and meet as usual in December each year.
A group of Islamic State members attacked a watchtower, as well as popular mobilization positions in Iraq, killing at least eleven people. Eight people were injured in the attack, according to news agencies. Some of the victims were civilians. News agencies reported the new attack by members of the group near Baghdad.
Quite a number of Arab countries, including Saudi Arabia, Egypt, Jordan, and the United Arab Emirates (UAE), have strongly condemned Thursday’s terror attack in a church in Nice, southern France, and disassociated it from the values of Islam. Each country put out a statement through their Ministries of Foreign Affairs.
Russian President Vladimir Putin said on Thursday that Russia does not rule out the possibility of delays in OPEC+ production plans. This latest sign indicates that OPEC may limit crude oil production for a longer period of time as the epidemic once again affects demand.
Last, week Haaretz published an opinion piece authored by Chuck Freilich titled “Can a Nuclear-armed Saudi Arabia Be Israel’s Partner for Peace?” The article was written by Charles Freilich, a former Israeli deputy national security adviser and long-time senior fellow at Harvard’s Belfer Center.
Bahrain has opened its airspace for direct flights between the United Arab Emirates and Israel, the official state news agency, BNA, reported on Thursday. Saudi Arabia did so earlier this week. The UAE had asked Bahrain to open its airspace to Israeli planes bound for the Emirates.
The Southern Transitional Council in Yemen said that it had suspended its participation in the ongoing consultations regarding the power-sharing agreement in the south, known as the “Riyadh Agreement.” The council stated that the decision to suspend its participation in the consultations came for several reasons.
Beirut is reeling from the horrendous, tragic explosion that occurred on August 4th. Thereafter, the Prime Minister resigned amid an investigation of the blast and failure to act previously. Furthermore, civil unrest and anger followed the explosion. There are over 1,000 injured in clashes with the police and the army.
The Hajj pilgrimage has begun in Mecca, Saudi Arabia, but the number of pilgrims has dropped significantly this year due to fears of the spread of the coronavirus. Up to 2 million people from around the world attend the Hajj each year, but only 10,000 Saudis have been allowed to attend this year.
U.S. media have reported that the Islamic Republic of Iran has been ordered to pay fines and compensation to the wounded and first-degree families of the victims of the 1996 terrorist attack on the Khobar Towers in Saudi Arabia. The attack killed 20 and wounded 498 others.
On Monday, the government of the United Kingdom announced new sanctions against 25 Russian citizens who say they participated in the mistreatment and murder of lawyer Sergey Magnitsky, and 20 Saudis believed to be involved in the murder of journalist Jamal Khashoggi.
Saudi Arabia has decided to organize the Hajj season with a “very limited” number of pilgrims while the Coronavirus pandemic continues in the Kingdom and the world. The Hajj will be open to Saudi residents only, including foreign nationals residing in the Kingdom. The announcement came via the Saudi Press Agency.
The Saudi-led military coalition in Yemen announced Tuesday the interception and destruction of booby-trapped drones and ballistic missiles launched by the Houthi rebels into the Kingdom. That including a ballistic missile launched towards the capital, Riyadh, according to the official Saudi Press Agency.
US President Donald Trump allegedly gave the Saudi administration an ultimatum to stop the infamous price war with Russia. On April 2, Trump apparently made a phone call to Saudi Crown Prince Mohammed bin Salman (MBS), letting him know that unless the Organization of the Petroleum Exporting Countries (OPEC) cut oil production, he would allow lawmakers to go ahead and legislate a US troop withdrawal from the kingdom.
Hatice Cengiz, fiancé of murdered journalist Jamal Khashoggi, is fighting to stop a Saudi consortium controlled by its Crown Prince from buying Premier League football club Newcastle United. In a letter sent by her lawyers, she said that the Saudi acquisition would make English football complicit in Khashoggi’s assassination.
Nepal’s ambassadors to the Gulf countries have sent a report to the Ministry of Foreign Affairs requesting quarantine arrangements for workers who must return to Nepal as a matter of urgency. Hundreds of Nepalis working in those countries may have lost their jobs or facilities during the crisis caused by the coronavirus.
Saudi Arabia has banned the death penalty for minors, its state-backed Human Rights Commission announced on Sunday. The move follows a series of reforms that have begun in Saudi Arabia, pushed by the royal family. The day before the ruling, the Saudi government lifted the flogging sentence in the country following sharp international criticism.
The number of executions globally decreased for the fourth year in a row, but it is worth noting that only a few countries are responsible for almost all the executions. Amnesty International, an international human rights organization, recorded 657 executions in 2019, with 86 percent of the cases being accounted for by just four countries.
Global oil demand has fallen by 30 million barrels a day due to the outbreak of the coronavirus, which has quarantined nearly half of the world’s population. Another result has been a sharp drop in the global economy, for which the world was seemingly overdue. However, OPEC Plus has only agreed to cut production by 10 million barrels for the two months of May and June of this year.
Canadian Prime Minister Justin Trudeau is responding to economic pressures at the expense of what it has previously claimed about human rights. In what appears to be fears of penalties, and billions of dollars in fines, Canada is lifting a freeze with Saudi Arabia to sell light armored vehicles (LAVs).
With declining oil demand following the Coronavirus Crisis, major oil-producing countries have reached a historic agreement to cut production by 10 million barrels per day. The move is a small step in easing concerns about falling oil prices. It also marks the improvement of relations between Saudi Arabia and Russia, two powerful OPEC Plus blocs.
Saudi Arabia has declared a two-week ceasefire in response to UN efforts to end years of war in Yemen. Saudi Arabia is in command of a military coalition fighting Shiite Houthis in Yemen. Turki al-Maliki, a spokesman for the military coalition, told the Saudi state news agency that the ceasefire would begin at midnight on Thursday.
Saudi Arabia is relying on a global telecoms service exploit to spy on its citizens. Dubbed SS7, the data mediation feature allows users to send messages across different networks and countries. It, for example, allows T-Mobile users to communicate with subscribers on the Verizon network.
Officials from the G20 group held an emergency video conference Thursday, promising to work together to fight the COVID-19 pandemic and provide greater financial support, particularly for developing economies. The US has taken a particularly hard hit, overtaking China and Italy for the highest number of cases, and reported record unemployment.
Turkish prosecutors announced on Wednesday that it had formally charged 20 Saudis, two among them very close associates of the Saudi Arabian Crown Prince Mohammed bin Salman, known by the acronym MBS, for the 2018 murder of journalist Jamal Khashoggi, a critic of the Saudi government.
The US Department of Energy is urging the administration of US President Donald Trump to form an alliance with Saudi Arabia in an attempt to regulate world oil prices, which could lead to Saudi Arabia withdrawing from OPEC. This information became available via The Wall Street Journal which claims that supporters of the US oil Alliance with Saudi Arabia are calling for stabilizing energy prices and preventing their collapse, which occurred after the OPEC talks in Vienna in early March.
Sаudі Arаbіа hаѕ tаkеn a numbеr оf decisions ѕuрроrtіng іtѕ country’s есоnоmу, tо соuntеr the fіnаnсіаl аnd economic effects of thе Cоrоnаvіruѕ. Thе gоvеrnmеnt hаѕ ѕеt 50 bіllіоn rіуаlѕ ($13.32 bіllіоn) durіng the сurrеnt рhаѕе, to support and enable thе mеdіum and small еntеrрrіѕе ѕесtоr, іn аddіtіоn to ѕuрроrtіng the fееѕ оf роіnt of ѕаlе аnd e-commerce ореrаtіоnѕ.
Saudi Prince Mohammed bin Salman, also known as MBS, has once again revealed his impulsive side to the world in the oil clash with Russia. Glaring evidence of his mercurial nature emerged after the gruesome killing of dissident journalist Jamal Khashoggi in 2018.
This week, one of the main topics around the world is the so called “oil war” between Russia and Saudi Arabia. A myriad of publications are claiming the Russian economy will tank during this oil price war. According to the various economic models, the Russian economical crises is supposed to reach its peak in 2025. That is another reason, beside Putin’s personal aspirations, why he wants to remain in control of Russia. At that point, it could be possible for the West to weaken Russia.
Coronavirus continues to wreak havoc in China. In the last 24 hours, 17 more people died there due to this virus. With this, the total number of deaths has increased to 3,136. Amidst the havoc of COVID-19, President Xi Jinping has made a big announcement. He said that the deadly virus has been controlled in Hubei Province, the main center of coronavirus, and its capital, Wuhan.
The vоlumе of wоrld аrmѕ ѕаlеѕ in 2015-2019 іnсrеаѕеd bу 5.5% соmраrеd wіth thе рrеvіоuѕ fіvе-уеаr реrіоd. The Unіtеd States аnd France ѕhоwеd the mоѕt nоtісеаblе grоwth in arms exports, and Saudi Arabia is the world’s largest arms importer. Thіѕ is stated in the аnnuаl rероrt оf thе Stосkhоlm Intеrnаtіоnаl Pеасе Research Inѕtіtutе (SIPRI).
The Saudi government has arrested three key members of the domestic royal family. Those arrested include Prince Ahmed bin Abdul Aziz and nephew Mohammad bin Naif, the younger brother of Saudi King Shah Salman. The masked Saudi guards arrested the royal family members from their residences on Friday, which were searched, according to The Wall Street Journal.
As fears of the continued global spread of the Coronavirus (COVID-19) continue to drive financial markets to new lows, savvy investors should take note of the excellent opportunities that this massive global sell-off is creating.
The World Health Organization on Coronaviruses:
“Coronaviruses (CoV) are a large family of viruses that cause illness ranging from the common cold to more severe diseases such as Middle East Respiratory Syndrome (MERS-CoV) and Severe Acute Respiratory Syndrome (SARS-CoV).
Coronaviruses are zoonotic, meaning they are transmitted between animals and people. Common signs of infection include respiratory symptoms, fever, cough, shortness of breath and breathing difficulties. In more severe cases, infection can cause pneumonia, severe acute respiratory syndrome, kidney failure and even death. A novel coronavirus (nCoV) is a new strain that has not been previously identified in humans.”