Saudi Arabia, Egypt, Bahrain and UAE threaten to take further steps against Qatar

According to the Peninsula of Qatar, the giant sketched image of the Emir H H Sheikh Tamim bin Hamad Al Thani – the iconic Tamim Al Majd picture – installed at Gharafa has become a must-visit attraction for Qataris and expatriates as people flock the spot day and night to show their love with the country and its leadership.

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Oil prices rise on OPEC and Russia’s deal to cut production (en/fr)

According to Reuters, the Organization of the Petroleum Exporting Countries (OPEC) said Wednesday that it would cut production by 1.2 million barrels a day from 33.6 million barrels and said it expects producers from outside the group, including Russia, to join with additional cuts totaling 600,000 barrels a day. On Thursday, 12/1, Azerbaijan said it was also willing to engage in talks on cuts while Indonesia suspended its membership. 

L’Arabie Saoudite réussira-t-elle son pari d’en finir avec sa dépendance à l’or noir?

Afin d’éviter qu’une crise comme celle qui se passe actuellement au Venezuela  arrive sur son sol, l’Arabie Saoudite, la plus grande puissance exportatrice de pétrole brut, planifie d’ores et déjà le changement pour lui permettre de produire 9.5 gigawatts d’énergie renouvelable en éléctricité avant 2030.Cette nouvelle a vite fait le tour des médias locaux et internationaux pendant les deux dernières semaines. Annoncé fin avril, le programme nommée « Vision saoudienne à l’horizon 2030 », vise à réduire la dépendance du royaume vis-à-vis des revenus pétroliers, dont les prix sont en chute libre. Le Royaume d’Arabie Saoudite opte pour une transition vers le solaire,l’éolien,le gaz, et développer des industries en aval, comme la pétrochimie.

Saudi Arabia,Russia, Qatar and Venezuela’s deal to have little impact on oil markets

Oil ministers from Saudi Arabia, Qatar, Venezuela and Russia agreed to keep production at January’s levels on Tuesday, but only as long as other major producers do the same. Iran said it would back any measures to stabilize the markets, but avoided committing to capping its own production. So unless Iran also commits, it could put the agreement on hold.

This deal could be the first joint OPEC and non-OPEC deal in 15 years aimed at tackling a growing glut and helping prices recover.