Saudi Arabia has unveiled a plan to transform its economy by ending its "addiction to oil" and developing the private sector, the Financial Times reports.
"The kingdom desperately needs to diversify its economy," said Jim Krane, Wallace S. Wilson Fellow for Energy Studies.
Financial Times (subscription required): http://bit.ly/1NPf4XQ
An investigation into the disappearance of 43 Mexican students in 2014 raises questions about the official government account. Tony Payan, director of the Mexico Center, comments in the Los Angeles Times: http://lat.ms/1NwxPoc.
Despite an increase in domestic crude oil consumption, Venezuela's oil output will continue to decrease, the Financial Times reports.
“A lack of investment, adequate infrastructure and a shrinking cash flow may drag oil production down by 100,000-200,000 b/d in a year,” Francisco J. Monaldi, fellow in Latin American energy policy, told the Financial Times.
Financial Times (subscription required): http://on.ft.com/1NFAk2o
President Obama aims to stabilize oil production by encouraging better relations between Saudi Arabia and Iran, The Wall Street Journal reports.
"Iran has made clear all along that it wasn't going to restrain production," said energy studies fellow Jim Krane. Full article (subscription required): http://on.wsj.com/1SvWxUS