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Saudi Arabia

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  • DUBAI, Oct 23- Saudi Arabia supplied less crude oil to the market in September than a month earlier, an industry source said on Thursday, at a time when some OPEC members are calling on the top oil exporter to cut back output to lift prices. Crude supplies from the OPEC heavyweight fell by some 328,000 barrels per day, to 9.36 million bpd in September, from 9.688 million...

  • KHOBAR, Saudi Arabia, Oct 22- Saudi Arabia- based power and water project developer ACWA Power is seeking to secure or arranging finance for $15 billion worth of projects, nearly half of which are in renewable energy, its chief executive said. The company, which plans to list its shares on the Saudi stock market, has projects operating or under construction in...

  • *To spend over 1 billion riyals on projects in 2015. RIYADH, Oct 22- Dar Al Arkan Real Estate Development Co, Saudi Arabia's largest listed developer, plans to spend over 1 billion riyals on projects in 2015 and aims for 10 percent growth of its business that year, its chairman said. While government data shows the home ownership rate among roughly 20 million Saudis...

  • *Kuwait is placing restrictions on Chevron's operations- sources. DUBAI/ KHOBAR, Saudi Arabia Oct 21- Saudi Arabia's closure of an offshore oilfield it shares with Kuwait has revived speculation of renewed tensions between the two, and put Chevron's role in the shared Neutral Zone in focus. Any differences between the two OPEC allies are watched closely by oil...

  • Saudi crude exports have been sliding in the past few months as shale oil squeezes Saudi oil out of U.S. markets and as demand in Asia, particularly in China, has been slower than expected. North America's shale boom has started to squeeze Saudi oil out of the U.S. market, the International Energy Agency said in a report last month, estimating Saudi exports would run...

  • Cramer: Long-term perks outweigh short-term loss Wednesday, 15 Oct 2014 | 7:07 PM ET

    Jim Cramer weighs the benefits of taking a long-term perspective on the market, versus the gains lost in the current market environment

  • How low can oil go? Cramer speculates on the limbo Wednesday, 15 Oct 2014 | 6:47 PM ET

    The market is playing a game to see how low oil can go. Cramer thinks there's no need to speculate on oil bottom yet.

  • Oil market crush     Tuesday, 14 Oct 2014 | 2:49 PM ET

    Discussing what's behind the decline in oil, with Andy Lipow, Lipow Oil Associates. Lipow expects WTI to fall below $80 a barrel.

  • WASHINGTON, Oct 14- Two Americans shot in Saudi Arabia were employees of U.S. defense contractor Vinnell Arabia, a senior State Department official said on Tuesday. One employee was killed and the other slightly injured after being shot at a gas station near the Vinnell Arabia base in Riyadh, about 20 miles from the U.S. embassy, the official said on condition of...

  • RIYADH, Oct 14- Plans by Saudi Arabia's biggest bank for a $6 billion initial public offer of shares, the largest-ever equity sale in the Arab world, have run into religious controversy with some clerics suggesting it violates Islamic principles. "The conflict between religion and the economy in the kingdom has been negative for a long time, but this will not stop...

  • DUBAI, Oct 14- Still haunted by its failed attempt to prevent a steep drop in oil prices by slashing production by almost three quarters in the 1980 s, the world's top oil exporter Saudi Arabia is determined not to make the same mistake again. Three decades ago, the spike in prices caused by the 1973 Arab oil embargo and Iran's 1979 revolution sapped global oil demand,...

  • RPT-COLUMN-The Saudi oil enigma: Kemp Tuesday, 14 Oct 2014 | 8:01 AM ET

    LONDON, Oct 14- "I cannot forecast to you the action of Russia. Much the same can be said about Saudi Arabia- one of the most compulsively secretive countries in the world at the start of the 21st century. The first myth is that there is a "grand bargain" in which Saudi Arabia provides a secure, reliable and affordable oil supply in exchange for a U.S. security guarantee.

  • LONDON, Oct 14- The world will see much weaker oil demand growth in 2015 than forecast previously, the International Energy Agency said on Tuesday, adding that oil prices may drop further. Oil prices fell for a third straight month in September, and benchmark Brent prices have reached a four-year low of around $88 per barrel in October on abundant supply, slowing...

  • SEOUL, Oct 14- U.S. crude futures fell to around $85 a barrel on Tuesday in early Asian trade on persistent concerns about a possible oil supply glut, easing despite some support from strong import figures from China. *Brent November crude lost 64 cents a barrel at $88.25 after it ended $1.32 lower at $88.89 a barrel, having slumped to $87.74, the lowest front-month...

  • COLUMN-The Saudi oil enigma: Kemp Monday, 13 Oct 2014 | 8:01 PM ET

    LONDON, Oct 14- "I cannot forecast to you the action of Russia. Much the same can be said about Saudi Arabia- one of the most compulsively secretive countries in the world at the start of the 21st century. The first myth is that there is a "grand bargain" in which Saudi Arabia provides a secure, reliable and affordable oil supply in exchange for a U.S. security guarantee.

  • DUBAI, Oct 14- Still haunted by its failed attempt to prevent a steep drop in oil prices by slashing production by almost three quarters in the 1980 s, the world's top oil exporter Saudi Arabia is determined not to make the same mistake again. Three decades ago, the spike in prices caused by the 1973 Arab oil embargo and Iran's 1979 revolution sapped global oil demand,...

  • Oil should stay cheap for at least a few months Monday, 13 Oct 2014 | 4:26 PM ET

    Oil prices should stay at their currently low levels, or drop further, due to a "perfect storm" of risk factors.

  • DUBAI, Oct 13- Most major stock markets in the Middle East rebounded on Monday, led by bourses in Dubai and Saudi Arabia, as global equities stabilised and several companies in the region reported strong quarterly earnings. The main indexes in Dubai and Saudi Arabia plunged 6.5 percent. But although Dubai tumbled as much as 2.7 percent early on Monday, it closed 1.9...

  • Saudis tell oil market: Get used to lower prices Monday, 13 Oct 2014 | 10:49 AM ET

    Saudi Arabia is telling oil market participants that it's fine with lower oil prices for an extended period.

  • LONDON/ NEW YORK, Oct 12- Saudi Arabia is quietly telling oil market participants that Riyadh is comfortable with markedly lower oil prices for an extended period, a sharp shift in policy that may be aimed at slowing the expansion of rival producers including those in the U.S. shale patch. Some OPEC members including Venezuela are clamoring for urgent production...