Tag: Stockpiling

Saudi Arabia to Extend Oil Production Cut by a Month

Media Library

In a move to support oil prices, Saudi Arabia said Thursday it would extend its decision to cut oil production by one million barrels a day for another month, to September. Oil prices have recovered strongly in recent weeks partly because of smaller stockpiles of fuel in the United States, but China’s tepid economic recovery has kept oil prices under pressure for most of the year. Saudi leaders need oil prices to stay high because the money from energy sales pays for government spending and ambitious plans to diversify the…

U.S. Aims to Turn Taiwan Into Giant Weapons Depot

Chin@Strategy

WASHINGTON — American officials are intensifying efforts to build a giant stockpile of weapons in Taiwan after studying recent naval and air force exercises by the Chinese military around the island, according to current and former officials. The exercises showed that China would probably blockade the island as a prelude to any attempted invasion, and Taiwan would have to hold out on its own until the United States or other nations intervened, if they decided to do that, the current and former officials say. But the effort to transform Taiwan…