With West Texas Intermediate futures trading in negative territory for the first time in history, it seemed the market had finally come to terms with what experts had long warned: The world is running out of oil storage. With human movement restricted due to the coronavirus pandemic, aviation...
The Aramco attacks of September 14 did much to expose Saudi Arabia's vulnerabilities. Yet long-term repercussions of the devastating attacks — both for the greater Middle East and the oil market — are yet to be realized.
On the morning of May 12, unidentified perpetrators attacked four oil tankers off the Fujairah port in the Gulf of Oman. Two of the tankers belonged to Saudi Aramco, the national oil company of Saudi Arabia. The attacks occurred during Japanese Prime Minister Abe’s state visit to Tehran, which...
For those who don’t understand why it’s essential to have money before you can make money, the case of Saudi Aramco demonstrates the underlying logic of the free-market system. For more than a year, Riyadh has been toying with the idea of going public with its wholly-owned petroleum company,...
