‘Bullied’: Iran sends message as Gulf states suffer oil tanker sabotage

‘Bullied’: Iran sends message as Gulf states suffer oil tanker sabotage

by WorldTribune Staff, May 17, 2019 U.S. intelligence agencies believe Iran-backed terror proxies, or those sympathetic to Iran, are behind the attacks on four oil tankers off the coast of the United Arab Emirates. Reuters reported that a U.S. government source said American security analysts believe Iran gave its “blessing” to tanker attacks which hit […]

Iran threatens U.S., oil lanes in Red Sea as Houthis fire missiles at Saudi tankers

Iran threatens U.S., oil lanes in Red Sea as Houthis fire missiles at Saudi tankers

by WorldTribune Staff, July 27, 2018 The head of Iran’s Quds force declared on July 26 that the Red Sea “is no longer secure” after Iran-backed Houthi rebels fired missiles at two Saudi oil tankers transiting the sea. Saudi Arabia announced it was temporarily halting all oil shipments through a Red Sea shipping lane after […]

Saudis set to lift the veil on true scale of its oil reserves

Saudis set to lift the veil on true scale of its oil reserves

by WorldTribune Staff, November 18, 2016 Saudi Arabia is about to reveal a state secret that it has kept the lid on since the 1980s – the true amount of its oil reserves. The kingdom will make the disclosure as it prepares for the 2018 initial public offering (IPO) of Saudi Aramco that could bring […]

Russia in talks with Saudis on ‘oil market stability’

Russia in talks with Saudis on ‘oil market stability’

by WorldTribune Staff, August 16, 2016 Russia’s oil minister said Moscow and Saudi Arabia are in talks to reach “oil market stability” and that a freeze on output levels is still on the table. “We are ready to achieve the widest possible level of coordination… and put in place joint measures to achieve oil market […]

Saudis end their war against U.S. frackers

Saudis end their war against U.S. frackers

by WorldTribune Staff, June 24, 2016 Saudi Arabia has declared its war on U.S. shale (frackers) is over. Now the question is:  Who won? Saudi Energy Minister Khalid Al-Falih said that since the worldwide oil glut has vanished, Saudi’s strategy of flooding the global market to try to put American drillers out of business is […]

Saudi weighs paying contractors with IOUs as oil slump continues

Saudi weighs paying contractors with IOUs as oil slump continues

by WorldTribune Staff, May 20, 2016 Saudi Arabia continues to suffer from a massive cash-flow problem amid the ongoing slump in oil prices and has been forced to consider handing out IOUs to contractors. Bloomberg reports that contractors “may receive financial instruments similar to a treasury bond which they could hold until maturity or sell on […]