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  • NEW YORK, May 22- As the United States raced over the past five years toward becoming a global petroleum powerhouse, the world's biggest oil exporter Saudi Arabia quietly seized a market milestone from America: the largest source of peak summer demand. From June through August, when temperatures in Riyadh routinely rise above 100 degrees Fahrenheit, Saudi...

  • *Front month U.S. crude was up 8 cents at $59.51 a barrel at 0018 GMT, after finishing down 26 cents in the previous session. *Global crude oil prices are not expected to fall in the second half of 2015, Kuwait's OPEC governor said on Monday, and any surplus supply was due to shale producers rather than OPEC. *Crude output by OPEC member Algeria will rise by at least 32,000...

  • Yemen crisis: End in sight?   Tuesday, 12 May 2015 | 9:05 AM ET
    A Houthi fighter at the site of an air strike at a residential area near Sanaa Airport in Yemen, March 26, 2015.

    After weeks of U.S-backed strikes against rebels in Yemen, a ceasefire has been agreed. We recap the events leading to this point.

  • Here’s why Iran and Iraq should worry OPEC Tuesday, 12 May 2015 | 6:01 AM ET
    Oil Iraq OPEC

    The only languages that really count at this summer's OPEC meeting will be Arabic, Farsi, Kurdish and money.

  • Saudi’s US snub about this: Former ambassador Monday, 11 May 2015 | 5:22 PM ET
    Saudi new King Salman (R) meets with US President Barack Obama at the Erga Palace in the capital Riyadh on January 27, 2015.

    “This has been a slow moving train wreck over several years,” said Robert Jordan, former U.S. ambassador to Saudi Arabia.

  • $100 oil not entirely off the table: Strategist Monday, 11 May 2015 | 3:44 PM ET
    A worker walks at Nahr Bin Umar oil field, Iraq, Nov. 23, 2014.

    OPEC may think that oil will stay under $100 a barrel for the next decade but two pros say this is what can push crude back to that level.

  • Saudi King snubs Obama   Monday, 11 May 2015 | 3:27 PM ET
    Saudi King snubs Obama

    The new king of Saudi Arabia has decided not to attend a summit at the White House and Camp David this week. Insight, with Robert Jordan, former Ambassador to Saudi Arabia.

  • DUBAI, May 11- A jointly operated onshore oilfield between Saudi Arabia and Kuwait will shut for maintenance, a move apparently aimed at giving the Gulf OPEC allies more time to solve a long-standing dispute. Production from the onshore fields in the Neutral Zone between Saudi Arabia and Kuwait was about 190,000 barrels per day, the source said.

  • Saudi King snubs US   Monday, 11 May 2015 | 10:46 AM ET
    Saudi King snubs US

    Saudi Arabia's King Salman bin Abdulaziz Al Saud is not coming to meetings in the U.S. Insight, with CNBC's John Harwood.

  • OPEC: Oil prices to stay below $100 for next decade Monday, 11 May 2015 | 9:08 AM ET
    The oil ministers of Qatar, Saudi Arabia and the United Arab Emirates attend the opening session of the Arab Energy Conference in Abu Dhabi.

    Oil prices will remain below $100 a barrel until at least 2025, according to a draft report by OPEC, seen by The Wall Street Journal.

  • Is Saudi Arabia giving up on the US?   Monday, 11 May 2015 | 4:50 AM ET
    Is Saudi Arabia giving up on the US?

    CNBC's Hadley Gamble discusses the shift in the relationship between Saudi Arabia and the U.S.

  • New Saudi king snubs meetings in US Monday, 11 May 2015 | 2:12 AM ET
    Saudi King Salman

    Saudi Arabia says King Salman will not attend meetings at the White House or a summit gathering at Camp David this week.

  • Saudi king won't attend Gulf Arab summit   Monday, 11 May 2015 | 1:45 AM ET
    Saudi king won't attend Gulf Arab summit

    CNBC's Hadley Gamble discusses the implications of Saudi Arabia's King Salman missing the Gulf Arab summit, where he would've met President Obama.

  • *Iran- allied Houthi forces accept truce to let in aid. *UAE welcomes move, hopes they won't act as Iran proxy. CAIRO/ ADEN, May 10- Yemen's dominant Houthi group accepted a five-day humanitarian ceasefire proposed by its adversary Saudi Arabia on Sunday but said it would respond to any violations of the pause.

  • DUBAI, May 10- Residential apartments at Saudi Arabia's Kingdom Tower, which is slated to become the world's tallest building on completion in 2018, will likely go on sale later this year, the developer's chief executive told Reuters on Sunday. The tower in Saudi Arabia's second biggest city Jeddah has the backing of billionaire Prince Alwaleed bin Talal, whose...

  • Will Indonesia's Mideast maid ban backfire? Thursday, 7 May 2015 | 10:08 PM ET
    Indonesian activists protest against the death penalty, in response to the execution of 2 Indonesian maids in Saudi Arabia.

    Indonesia has imposed a ban on any more of its domestic helpers from working in 21 Middle Eastern countries, but will the move backfire?

  • UPDATE 2-Saudi Arabia offers five-day Yemen ceasefire Thursday, 7 May 2015 | 10:31 AM ET

    RIYADH/ CAIRO, May 7- Saudi Arabia offered a five-day humanitarian truce on Thursday to the Houthi militia it has hit with weeks of airstrikes in neighboring Yemen, on condition that fighting across Yemen stops. The offer of a truce comes days after the Houthis started shelling Saudi border towns, prompting renewed airstrikes in Yemen, and as the militia advanced...

  • CAIRO/ RIYADH, May 7- Saudi Arabia said all options were open including ground operations to stop mortar attacks on its border towns by Yemen's Houthi militia, as its jets hammered the group's positions ahead of U.S.-led talks on a temporary truce. Secretary of State John Kerry began negotiations in Riyadh to pause the campaign of airstrikes launched by a...

  • Saudi Arabia mulling land operations on Yemen border Thursday, 7 May 2015 | 6:07 AM ET

    CAIRO/ RIYADH, May 7- Saudi Arabia said all options were open including ground operations to stop mortar attacks on its border towns by Yemen's Houthi militia, as its jets hammered the group's positions ahead of U.S.-led talks on a temporary truce. Secretary of State John Kerry began negotiations in Riyadh to pause the campaign of airstrikes launched by a...

  • DUBAI, May 7- A trickle, not a flood of foreign money is likely to enter Saudi Arabia's stock market in coming months as the $575 billion bourse, the Arab world's biggest, opens to direct foreign investment. If the market-opening causes Saudi Arabia to enter equity benchmarks such as MSCI's emerging market index, it will attract tens of billions of dollars of new...