MassiveIndustry

The investment company Blackstone says the Saudi sovereign wealth fund has committed the money to a fund that could spend up to $100 billion on infrastructure.

(Fri, 19 May 2017) Members of the Organization of the Petroleum Exporting Countries (OPEC) earned about $433 billion in net oil export revenues in 2016, the lowest since 2004. In real dollar terms, the 2016 revenue represents a 15% decline from the $509 billion earned in 2015, mainly because of the fall in average annual crude oil prices and, to a lesser extent, because of decreases in OPEC net oil exports.

President Xi Jinping is building his way across continents as American influence recedes.

While rising Libyan oil production is problematic for OPEC as it seeks to reduce output to rebalance the market, on a national level it raises hopes that Libya is slowly recovering from years of war and infighting.