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PIF Returns to Buy-Low Playbook with 2Q Stock Market Buying Spree
- August 18,2022
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) bought shares in Alphabet, Zoom Video, and Microsoft this week as part of a wider pick of U.S. stocks, bringing the market value of the sovereign wealth fund’s investment portfolio to about $40.8 billion at the end of the second quarter, Reuters reports.
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OPEC, Allies Agree to Increase in Oil Production
- August 3,2022
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- SUSTG Team
Saudi Arabia and the OPEC+ group of oil-producing countries agreed to a small increase of 100,000 bpd in oil production on Wednesday after the U.S. and other consuming nations called for more crude in the market, according to reports.
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Saudi Oil Exports Jump 106% Year-on-Year to Over $30 Billion in May 2022; US Sees Room for More Saudi, UAE Production
- July 28,2022
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- SUSTG Team
Saudi Arabia’s oil exports jumped 106 percent, reaching SR116 billion ($30 billion) during the month of May 2022 while compared to the same period last year, according to the latest report published by the General Authority for Statistics (GASTAT), released on Monday.
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U.S. Yemen Envoy Tim Lenderking Heads to Saudi Arabia, Jordan to Push Yemen Peace Talks
- July 25,2022
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- SUSTG Team
The U.S. special envoy for Yemen, Tim Lenderking, is headed to Saudi Arabia and Jordan on Monday to continue Washington’s diplomatic efforts to back a United Nation’s mediated truce in Yemen, Reuters reports, citing the U.S. State Department said.
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Crown Prince Mohammed bin Salman, Russian President Putin Speak by Phone
- July 22,2022
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- SUSTG Team
Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman spoke by phone on Thursday and underlined the importance of further cooperation within the OPEC+ group of oil producers, Reuters reports, citing a release from the Kremlin.
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A Special Edition of The 966: Reviewing President Biden’s Visit to Saudi Arabia with Jon Alterman, David Des Roches, and Hussein Ibish
- July 19,2022
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- SUSTG Team
A very special edition of The 966 for Episode 53: The 966 has lined up three experts to discuss their reactions to President Biden’s visit to Israel and Saudi Arabia and a renewed U.S. focus on the Middle East region. Hussein Ibish, columnist for Bloomberg, Dr. Jon Alterman from the Center for Strategic and International […]
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President Biden Concludes Trip to Saudi Arabia with Agreements to Cooperate on Range of Issues
- July 18,2022
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- SUSTG Team
President Biden concluded his trip to Saudi Arabia with a renewed partnership with the Kingdom, pledging to work together with Saudi leadership to achieve shared goals on a number of diplomatic, energy, and trade issues.
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Report: U.S. Justice Department Investigating PGA Tour in Fight With Saudi-Backed LIV Golf
- July 12,2022
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- SUSTG Team
The Department of Justice is investigating whether the PGA Tour engaged in anticompetitive behavior as it battles the upstart, Saudi-backed LIV Golf circuit, the PGA Tour confirmed to The Wall Street Journal.
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Ahead of President Biden’s Visit, Administration Said to Mull Resumption of Offensive Arms Sales to Saudi Arabia
- July 11,2022
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- SUSTG Team
Ahead of President Biden’s visit to Saudi Arabia this week, the Biden administration is discussing the possible lifting of its ban on U.S. sales of offensive weapons to Saudi Arabia, four sources told Reuters in an exclusive item.
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Oil Continues Drop on Global Indices as Recession, Demand Destruction Fears Weigh on Prices
- July 6,2022
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- SUSTG Team
Oil plummeted about 9% on Tuesday in the biggest daily drop since March, and failed to regain ground on Wednesday, as growing fears of a global recession and lockdowns in China that could slash demand weighed on prices.
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MUST-READS
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The $2.8 Billion Hole in U.S. Sanctions on Iran
For months, as Iran-backed groups attacked U.S. forces and allies in the Middle East, the Biden administration hailed its efforts to restrict Iran’s oil revenue — and the country’s ability to fund proxy militias. The Treasury secretary told Congress that her teams were “doing everything that they possibly can to crack down” on illegal shipments, and a senior White House adviser said that “extreme sanctions” had effectively stalled Iran’s energy sector. But the sanctions failed to stop oil worth billions of dollars from leaving Iran over the past year, a New York Times investigation has found, revealing a significant gap in U.S. oversight.
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U.S. collaborates with allies, partners at Saudi-led Spears of Victory exercise
Ninth Air Force (Air Forces Central)’s KC-135 Stratotanker aircraft and experts across the fields of command and control, security forces, and other critical operations deployed to the Royal Saudi Air Force’s Spears of Victory exercise Feb. 4-15, at King Abdulaziz Air Base. Spears of Victory includes eight countries and is one of the largest multinational exercises hosted by a U.S. partner in the region. The exercise provides opportunities to develop tactical proficiency, improve interoperability, strengthen military relationships and increase flexibility to address existing and emerging threats. The multilateral exercise builds confidence by familiarizing operators with a wide array of aircraft in various contingency scenarios.
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U.S. Ambassador to KSA test drives Humvee Saber at WDS
A different flavor from the US Ambassador to Saudi Arabia, Michael Ratney, in the American Humvee Saber at the World Defense Exhibition.
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Visualizing the Rise of the U.S. as Top Crude Oil Producer
Over the last three decades, the United States, Saudi Arabia, and Russia have alternated as the top crude producers, but always by small margins. During the 1990s, Saudi Arabia dominated crude production, taking advantage of its extensive oil reserves. The petroleum sector accounts for roughly 42% of the country’s GDP, 87% of its budget revenues, and 90% of export earnings. However, during the 2000s, Russia surpassed Saudi Arabia in production during some years, following strategic investments in expanding its oil infrastructure. The majority of Russia’s oil goes to OECD Europe (60%), with around 20% going to China.
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Visualizing the Rise of the U.S. as Top Crude Oil Producer
Over the last three decades, the United States, Saudi Arabia, and Russia have alternated as the top crude producers, but always by small margins. During the 1990s, Saudi Arabia dominated crude production, taking advantage of its extensive oil reserves. The petroleum sector accounts for roughly 42% of the country’s GDP, 87% of its budget revenues, and 90% of export earnings. However, during the 2000s, Russia surpassed Saudi Arabia in production during some years, following strategic investments in expanding its oil infrastructure. The majority of Russia’s oil goes to OECD Europe (60%), with around 20% going to China.
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The Race to Make This Dying U.S. Lake the ‘Saudi Arabia of Lithium’
California’s toxic Salton Sea has enough lithium to make the U.S. self-sufficient in the mineral, which is a key component of rechargeable batteries. WSJ explores the tech being developed to extract it—and what it means for the future of domestic production
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How Should the U.S. Respond to a Middle East Crisis Threatening Its Policy and Personnel?
The October 7 Hamas attacks in southern Israel created an immediate crisis for the President Joseph R. Biden Jr. administration’s policy of promoting greater regional integration and upholding stability and security in the Middle East. That agenda is coming under intensified pressure, most dramatically by the killing of three U.S. service personnel and the wounding of dozens more by a drone strike in Jordan that the White House blames on Iranian-backed militias.
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How Should the U.S. Respond to a Middle East Crisis Threatening Its Policy and Personnel?
The October 7 Hamas attacks in southern Israel created an immediate crisis for the President Joseph R. Biden Jr. administration’s policy of promoting greater regional integration and upholding stability and security in the Middle East. That agenda is coming under intensified pressure, most dramatically by the killing of three U.S. service personnel and the wounding of dozens more by a drone strike in Jordan that the White House blames on Iranian-backed militias
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Blinken meets MBS in Saudi Arabia as U.S. pushes for post-war deal
During his previous visit to Israel last month, Blinken told Israeli leaders that Saudi Arabia wants to normalize relations with Israel after the Gaza war ends, but it won't agree to any deal if the Israeli government doesn't commit to the principle of a two-state solution.
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Saudi Arabia pushes for U.S. defence pact ahead of presidential election
Saudi Arabia would be willing to accept a political commitment from Israel to create a Palestinian state, rather than anything more binding, in a bid to get a defence pact with Washington approved before the U.S. presidential election, three sources said. Months of U.S.-led diplomacy to get Saudi Arabia to normalise relations with Israel and recognise the country for the first time were shelved by Riyadh in October in the face of mounting Arab anger over the war in Gaza.
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