John Defterios
CNN
United Arab Emirates
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Past articles by John:
Slumping energy prices translate to layoffs and bankruptcies for Texas oil country
At the beginning of 2020, Bobby Bounds was running a successful industrial painting company catering to the oil and gas sector in Midland, Texas. He had 12 employees, painting everything from storage tanks to pipes and valves. → Read More
US, China and Hong Kong stand to lose out in latest tussle
The world economy is just starting to re-emerge from a COVID-19 lockdown but it may be faced with an ill-timed tug-of-war between the US and China, which has Hong Kong being pulled from both sides. At this stage of the conflict, all three players stand to lose out. → Read More
Saudi crown prince's economic master plan could be derailed by oil price crash
Saudi Arabia is taking drastic steps to shore up its finances after the oil price crash and the coronavirus pandemic upended the economy and threatened Crown Prince Mohammed bin Salman's grand plan to reduce its dependence on crude exports. → Read More
Why oil prices are crashing and what it means
Oil prices have suffered their biggest fall since the day in 1991 when American forces launched air strikes on Iraqi troops. Here's why it's happened and what it means. → Read More
Saudi Aramco raises $25.6 billion in the world's biggest IPO
Saudi Arabia has just pulled off the biggest initial public offering in history, raising $25.6 billion by selling shares in its giant state-owned oil monopoly. → Read More
America is now the world's top oil producer, but cracks are emerging
By any measure, America's rapid expansion to a record 12 million barrels of oil output a day has been a global game-changer. → Read More
Saudi Aramco delays IPO to give clarity on impact of attacks
Saudi Aramco's long-awaited IPO has been delayed--again. → Read More
How India is trying to kick its coal addiction
India is still heavily dependent on coal, but it has ambitious plans to transition to renewables. → Read More
Women are bringing solar energy to thousands of Indian villages
India is trying to bring electricity to hundreds of millions of its citizens who live off the grid. And it's trying to ensure that the power comes from clean and renewable sources. → Read More
These experts think oil demand won't peak until 2035
Oil consultancy Wood Mackenzie forecasts that the peak for global oil demand is around the corner, as emerging economies give in to the shift from hydrocarbons to electric power. → Read More
Indian farmers are using the sun to help water their crops
Hundreds of millions of people in India depend on farming for their livelihoods, but widespread droughts in recent years mean they often struggle to find enough water for their fields. → Read More
Saudi crown prince calls Khashoggi killing 'heinous' after inner circle is implicated
Saudi Crown Prince Mohammed bin Salman describes the killing of Washington Post columnist Jamal Khashoggi as a "heinous" crime in his first comments since some of his closest aides were implicated in the Saudi journalist's death. → Read More
Donald Trump's battering of Iran is affecting the cost of oil
Oil prices have marched to a four-year high. A growing chorus insists that Washington's policy against Iran has ratcheted up geopolitical tensions and could knock out up to 2 million barrels a day of Iran's exports. This has sparked a surge in prices, John Defterios says. → Read More
Real Turks feel squeeze after Trump's tweets, tariffs
At the currency exchange in old Istanbul, seasoned traders say they have not seen such volatility since 2001, when Turkey faced its last major currency crisis. → Read More
How will US sanctions actually affect Iran?
The first wave of "snap back" sanctions -- reimposed due to the US departure from the nuclear deal -- will hit Iran's vulnerable economy harder than many are anticipating. → Read More
Oil giants take US shale in stride
The latest survey from the Washington based Energy Information Administration estimated that US output topped 10 million barrels a day for the first time since November 1970. This means the world order is changing, with the US sharing top billing with the two previously undisputed heavyweights of oil in Riyadh and Moscow. But at the 3rd annual CNN Money Energy Round table at the World Economic… → Read More
Saudi Arabia and Russia: May the force be with them
The turnout has been strong at box offices for the release of “The Last Jedi,” the latest instalment in the “Star Wars” series. In the spirit of the sci-fi classic, I think the earlier “Star Wars: Episode IV — A New Hope” can be best applied to what transpired in the world of oil in 2017. It was Obi-Wan Kenobi who declared to Anakin Skywalker, “Goodbye old friend, and may the force be with you.”… → Read More
Saudis launch anti-corruption sweep
CNN's John Defterios says a senior adviser to Saudi Crown Prince Mohamed bin Salma told him that Saudi Arabia's newly formed anti-corruption committee that arrested at least 17 princes and top officials is part of the plan to modernize the kingdom. → Read More
Saudis launch anti-corruption sweep
CNN's John Defterios says a senior adviser to Saudi Crown Prince Mohamed bin Salman told him that Saudi Arabia's newly formed anti-corruption committee that arrested at least 17 princes and top officials is part of the plan to modernize the kingdom. → Read More
Saudi Arabia’s transformation scorecard
It was a strong signal from on high. Women in Saudi Arabia have been given the green light to drive starting in June of next year. This is clear signal both inside and outside the Kingdom that, as Bob Dylan sang, “The Times They Are A-Changin.” The move came by royal decree from King Salman, but this had the fingerprints of his son Crown Prince Mohammed bin Salman and his Vision 2030 reforms.… → Read More