Saudi Arabia


  • *Private briefings, long Naimi silence puzzle OPEC experts. LONDON, Nov 18- If Saudi Oil Minister Ali al Naimi wants to stop conspiracy theories spreading before a crucial OPEC meeting next week, it's too late. Naimi's intervention last week after a two-month silence failed to address a question energy markets want answered: is the OPEC leader no longer willing to...

  • Talk about OPEC's response to a 30- percent drop in global oil prices since June intensified this week after Venezuela called for increased cooperation within the cartel, as well as with non-members including top producer Russia. A special global meeting is being planned "very soon", Venezuelan President Nicolas Maduro said on Monday, while the head of...

  • *Saudi Arabia reports little change in October output. LONDON, Nov 12- Global demand for oil from OPEC next year will be far below its current output level because of the U.S. shale boom, the group said on Wednesday, as its top producer, Saudi Arabia, kept silent on whether it will cut output to remove surplus oil from the market. This is the last report before OPEC meets in...

  • DUBAI, Nov 12- Shares in Saudi Arabia's biggest lender, National Commercial Bank, jumped their daily 10 percent limit upon listing on Wednesday after a $6 billion IPO, the largest ever in the Arab world and the second-biggest globally this year. Bahrain- based Securities& Investment Co rated NCB a "high conviction buy" with a target price of 72 riyals, citing its...

  • Japan tries to tap growing Muslim tourist market Tuesday, 11 Nov 2014 | 1:19 AM ET

    TOKYO— Unsure whether they could find halal food in Japan, a group of Muslim school teachers from Malaysia went so far as to prepare their own breakfast before departing. That's welcome news for Japanese tourism officials, who are counting on a still small but growing market of Muslim tourists as Japan looks to diversify its tourism industry, long dependent on...

  • Forgotten OPEC state gains steam—but not for long Friday, 7 Nov 2014 | 1:34 PM ET
    This Feb. 5, 2008 photo shows shift supervisor Ojerinde Kanoru aboard the FPSO Bonga (Floating, Production, Storage and Offloading) facility 75 miles off the coast of Lagos, Nigeria.

    Oil production is at the highest in a decade in Nigeria, but the surge is not likely to last long.

  • Oil punches keep coming     Thursday, 6 Nov 2014 | 2:27 PM ET

    Discussing if oil has bottomed and how the Saudi's plan to hold onto market share, with John Kilduff, Again Capital.

  • OPEC's oil outlook     Thursday, 6 Nov 2014 | 8:34 AM ET

    CNBC's Jackie DeAngeles reports the latest details on the world oil outlook from OPEC.

  • SEOUL, Nov 6- U.S. crude futures extended gains on Thursday in early Asian trades, as government data showed that U.S. crude stocks rose but less than forecast last week, while gasoline and distillate inventories fell. West Texas Intermediate crude rose 22 cents to $78.90 a barrel as of 0005 GMT after it previously settled up $1.49 at $78.68 a barrel.

  • Jobs data, ECB could push stocks higher Wednesday, 5 Nov 2014 | 6:44 PM ET
    Production at Mobern Lighting Co., in Jessup, Maryland.

    Stocks could continue to tilt higher, as traders focus on U.S. jobless claims data and productivity and labor costs ahead of the Oct. jobs report.

  • NEW YORK, Nov 5- Oil prices jumped on Wednesday, with Brent rebounding from a four-year-low, as traders reacted to rumors of a pipeline blast in Saudi Arabia and bullish U.S. crude stocks data. An unconfirmed market rumor of an oil pipeline explosion in Saudi Arabia had sent the market surging earlier. But we did calm down after that and step back and look at the bigger...

  • Crude skids, gold loses luster     Wednesday, 5 Nov 2014 | 7:34 AM ET

    Matt Smith, Schneider Electric, and Frank Holmes, U.S. Global Investors, weigh in on what's likely sinking crude oil prices as gold now reaches a four-year low. The heyday for gold is not over, says Holmes.

  • US stock market psyched for GOP win Wednesday, 5 Nov 2014 | 5:57 AM ET
    Traders on the floor of the New York Stock Exchange.

    Markets are psyched for a Republican victory in Congress that gives the GOP control of the Senate in addition to the House.

  • US stock market psyched for GOP win Wednesday, 5 Nov 2014 | 4:37 AM ET
    Traders on the floor of the New York Stock Exchange.

    Markets are psyched for a Republican victory in Congress that gives the GOP control of the Senate in addition to the House.

  • After Saudi move, what will OPEC do?     Tuesday, 4 Nov 2014 | 10:12 PM ET

    Alejandro Barbajosa, VP, Crude & LPG - Middle East & Asia-Pacific at Argus Media, says Saudi Arabia's recent pricing decisions could prompt "strong cohesive actions" from OPEC.

  • Tracking Saudi Arabia's US price cut     Tuesday, 4 Nov 2014 | 7:13 PM ET

    Richard Yetsenga, Head of Global Markets Research at ANZ, discusses the rationale behind Saudi Arabia's surprise move in cutting oil prices for U.S. customers.

  • Saudi incentive: Theories for oil cut     Tuesday, 4 Nov 2014 | 3:26 PM ET

    Neal Dingmann, SunTrust Robinson Humphrey energy analyst, and CNBC's Michelle Caruso-Cabrera, discuss the motivation behind Saudi Arabia cutting oil prices in the U.S.

  • What countries lose when oil prices drop Tuesday, 4 Nov 2014 | 3:13 PM ET
    Oil workers conduct a drill in a petroleum well in Lagunillas at the east coast of Lake Maracaibo near Maracaibo City in Venezuela.

    Countries around the world that rely on oil revenues are bracing for an imminent economic and budget hit.

  • Discussing Saudi oil production and where oil will bottom out, with former Gulf Oil CEO Joe Petrowski.

  • JEDDAH, Saudi Arabia, Nov 4- Saudi Arabia should set up a sovereign wealth fund to protect itself from sliding oil prices by earning higher returns from its foreign reserves, Saudi billionaire Prince Alwaleed bin Talal said on Tuesday. Brent crude oil futures sank more than $2 a barrel on Tuesday to a four-year low of $82.32, a day after Saudi Arabia cut its official...