Saudi to slash oil exports after price slide: minister

Apicorp made the prediction in a report as the oil price again ticked higher supported by the hopes that talks between China and the US would defuse current trade tensions

Its energy minister Khalid al-Falih said on Wednesday that the oil producer would cut its output to 7.2 million barrels per day (bpd) in January, down from 8 million bpd in November. During his visit, Pakistan and the Kingdom will sign the MoU for setting up an oil refinery in the port city by the Saudi oil giant.

"It is significant because it is the first audit by outside sources since Saudi Arabia purchased Aramco", said Ellen R Wald, president of Transversal Consulting and author of Saudi Inc.

It answers a key question for potential investors in the planned share sale of Saudi Aramco, the state-owned company that manages the Kingdom's vast oil wealth.

The deal is reportedly valued at $70 billion, but no amount has been confirmed by the companies. "We believe that having bonds and commercial paper as one of its sources of capital is prudent and necessary".

"The bond issue is meant to give Aramco multiple sources of capital", he said.

Inexperienced Aussies shock India in ODI
But Australia took 80 runs off the final seven overs as Stoinis and Handscomb delivered what proved to be a winning score. We'll have to figure out based on the conditions but both scenarios are pretty much in play", he added.

U.S. pushes China on promises after `in-depth' trade meetings
The meetings in Beijing were not at a ministerial level, so were not expected to produce a deal to end the trade war. Trade in services with China (exports and imports) totalled an estimated United States dollars 75.0 billion in 2017.

India vs Australia: Pandya & Rahul Suspended, Head Home to Face Inquiry
Honestly, I got a bit carried away with the nature of the show. "The BCCI did the right thing, and this is also the way forward. The CoA has taken on board the recommendation of the BCCI's legal team that Pandya and Rahul be suspended pending an inquiry.

"We will work with our advisers and find the right time to go to market and part of that would be a prospectus that would have appropriate financial statements and disclosures", Al Falih said.

A trade agreement could mitigate the global economic slowdown and keep global oil demand high; however, failure to reach a deal would worsen economic growth prospects and keep a downward pressure on oil demand and prices, according to experts.

Despite this, US bank Morgan Stanley cut its 2019 oil price forecasts by more than 10 per cent on Wednesday, pointing to "weakening economic growth expectations" and rising oil supply from outside OPEC as reasons for their lower price forecast.

"For most of the market, what this does is that it really reinforce what we all know, which is Saudi Arabia holds significant and low-priced reserves", said Richard Mallinson, an analyst with consultancy Energy Aspects.

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