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Saudi Arabia

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  • Saudi Arabia to open stock market to foreigners in June Thursday, 16 Apr 2015 | 10:10 AM ET

    RIYADH, Saudi Arabia— Saudi Arabia's stock market regulator says foreign investors will be allowed to trade shares on the oil-rich kingdom's exchange beginning on June 15. The Capital Market Authority's announcement Thursday has been eagerly awaited by investors seeking to tap into the Arab world's largest economy. Foreign investors outside the...

  • And Venezuela's oil minister Asdrubal Chavez met in Caracas with the local ambassadors of eight OPEC members plus Indonesia on Wednesday, the ministry said. Nearly four months of sub- $60 a barrel crude oil prices is weighing heavily on cash-strapped producers such as Venezuela and Russia, who failed to coax OPEC into cutting output last November.

  • LONDON, April 15- At least five merchant vessels carrying food are stuck off Yemen, shipping data showed on Wednesday, as warships from a Saudi-led coalition search them for weapons bound for Iran- allied Houthi rebel forces, with delays adding to a humanitarian crisis. Yemen imports more than 90 percent of its food, including most of its wheat and all its rice, to...

  • LONDON, April 15- At least five merchant vessels carrying food are stuck off Yemen as warships from a Saudi-led coalition search them for weapons bound for Iran- allied Houthi rebel forces, with delays adding to a humanitarian crisis. Yemen imports more than 90 percent of its food, including most of its wheat and all its rice, to feed a population of 25 million.

  • *Russian delegation to meet OPEC in Vienna in June. Russia has stepped up contacts with OPEC after oil prices plunged last year, however it has dismissed any suggestion it might cut output to prop up prices, saying it is technically impossible to idle production due to the harsh climate in Siberia, the heartland of Russian oil production. The fall in price of oil,...

  • The U.N. Office for the Coordination of Humanitarian Affairs said estimates show that over 121,000 people had been displaced inside Yemen since a Saudi-led coalition airstrike campaign targeting Shiite rebels began on March 26, with nearly half that number concentrated in the country's northwest. A combined force of Shiite rebels and security forces...

  • *Lukoil involved in Empty Quarter gas search. KHOBAR, Saudi Arabia/ MOSCOW, April 13- Lukoil will likely pull out from Saudi Arabia where the economics of its search for gas have been crushed by the collapse of the oil price, three industry sources said. Lukoil was the last company left active in the consortia of international oil firms Saudi Arabia invited in...

  • *Iran demands all sanctions end when nuclear deal signed. "The latest agreement with Iran does not open the floodgates for a significant return of Iranian oil on the market as many had feared," said Harry Tchilinguirian, head of commodity markets strategy and oil strategy at BNP Paribas. But on Thursday, Iranian supreme leader Ayatollah Ali Khamenei demanded all...

  • *Iran demands all sanctions end when nuclear deal signed. LONDON, April 10- Oil edged higher towards $57 a barrel on Friday, heading for a weekly gain, supported by an easing of concerns that the interim accord over Iran's nuclear work will lead to a rapid rise in Iranian oil supplies. "The latest agreement with Iran does not open the floodgates for a significant...

  • CALGARY, Alberta, April 9- Canadian oil and gas producer Calvalley Petroleum Inc said on Thursday it will liquidate and restructure due to the political crisis in Yemen, where it has almost all of its operations. Saudi Arabia and Arab allies have launched air strikes against the Iran- allied Houthi movement in Yemen, which has taken most of the country and forced...

  • *OPEC needs to discuss output levels before next meeting. BEIJING, April 9- OPEC's strategy of holding output steady is not working and the group's members should discuss production levels before its next meeting in June, Iran's oil minister said, a sign of the pain lower prices are causing OPEC's less wealthy producers. Iran was among the OPEC members which...

  • Saudi Arabia blocks Iranian plane carrying pilgrims Thursday, 9 Apr 2015 | 5:28 AM ET

    The General Authority of Civil Aviation announced the move in a statement carried by the official Saudi Press Agency on Thursday. Tensions are high between Sunni powerhouse Saudi Arabia and its Shiite rival Iran. Critics see the Houthis as tools of Iran, but both the Islamic Republic and the rebels deny any direct military assistance from Tehran.

  • Cramer: The gifts that keep on giving—thanks, oil! Wednesday, 8 Apr 2015 | 6:13 PM ET
    gas station prices gas pump credit card

    Jim Cramer reminds investors of the many gifts that go into their pocket when energy costs are lower, thanks to the low price of oil.

  • OPEC should change course, cut oil output: Libya Wednesday, 8 Apr 2015 | 9:16 AM ET
    Qatar Oil Minister Mohammed bin Saleh Al-Sada (L), Saudi Oil Minister Ali al-Naimi, and United Arab Emirates Energy Minister Suhail bin Mohamed al-Mazroui (R) attend the opening session of the 10th Arab Energy Conference in Abu Dhabi, on December 21, 2014.

    OPEC should cut supply by 800,000 barrels per day or more to prevent a return of Iranian exports from weighing on prices, Libya's OPEC governor said.

  • Volatile oil, a dovish Fed, and start of earnings Wednesday, 8 Apr 2015 | 5:57 AM ET
    Traders work on the floor of the New York Stock Exchange.

    Markets expect to hear from a dovish Fed Wednesday, while a bubbling up of oil prices makes weekly U.S. inventory data a bigger than normal focus.

  • *Shell in talks to buy BG Group in first mega-merger in a decade. SINGAPORE, April 7- Crude prices dropped on Wednesday after Saudi Arabia reported record production of 10.3 million barrels per day in March, a figure the country's oil minister said was unlikely to fall by much. Brent May crude was down 73 cents from its last settlement at $58.37 a barrel by 0100 GMT,...

  • SINGAPORE, April 8- U.S. crude futures fell over a dollar in early Asian trading on Wednesday after Saudi Arabia revved up crude production to its highest level on record in March. Oil Minister Ali al-Naimi told reporters late on Tuesday that the Kingdom produced some 10.3 million barrels per day of crude in March, a figure that would eclipse its previous recent...

  • RIYADH, April 8- Saudi Arabia has revved up crude production to its highest rate on record, feeding unexpectedly strong demand from foreign refiners and increased capacity at home. Oil Minister Ali al-Naimi told reporters late on Tuesday that the Kingdom produced some 10.3 million barrels per day of crude in March, a figure that would eclipse its previous...

  • Traders work on the floor of the New York Stock Exchange.

    Markets expect to hear from a dovish Fed Wednesday, while a bubbling up of oil prices makes weekly U.S. inventory data a bigger than normal focus.

  • ADEN/ DUBAI, April 7- Plunged into darkness, low on water and short of food, Samah Mulhi and her family huddle in their home in the Yemeni city of Aden as explosions and gunfire reverberate outside. The southern port is under siege by the Houthis, an Iran- allied militia undeterred by 13 days of Saudi-led air strikes meant to blunt their southward push from the capital...