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Saudi Arabia

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  • *Larger volumes flows to U.S., Asia, Europe. Iraq, Venezuela, Russia and Kazakhstan all saw their oil partially replaced by Saudi crude in Asia, the United States and even Europe, with its lackluster demand, as traders said the kingdom offered customers more oil, and more cheaply. Gary Ross, the founder and executive chairman of PIRA, the first consultancy to predict...

  • DUBAI, March 23- Houthi fighters and loyalists of Yemen's President Abd-Rabbu Mansour Hadi are locked in a power struggle that diplomats say risks drawing in neighbouring Saudi Arabia and its main regional rival Iran. The political crisis threatens to pit Yemen's two main Islamic sects against each other. Unlike in Syria and Iraq, however, followers of the two...

  • RIYADH/ DUBAI, March 23- Yemen's top factions are squaring off for battle after months of skirmishes, turning respectively to neighbouring Saudi Arabia and its regional rival Iran for help in what may become all-out war. With President Abd-Rabbu Mansour Hadi seeking a comeback from the port city of Aden while the Shi'ite Houthi movement controls the capital...

  • OPEC won't bear burden of boosting oil price: Naimi Monday, 23 Mar 2015 | 7:07 AM ET
    Saudi Oil Minister Ali al-Naimi speaks to journalists ahead of the166th ordinary meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, Austria on November 27, 2014.

    OPEC will not take sole responsibility for propping up the oil price, Saudi Arabia's oil minister said.

  • *Saudi wants non- OPEC cooperation on any output cuts. Yet Riyadh has so far opted to keep its output stable to protect market share against non- OPEC producers such as the United States- where production has soared as a result of the shale exploration boom- and Russia. "We tried, we held meetings and we did not succeed because countries were insisting that OPEC carry...

  • Yet Riyadh has so far opted to keep output stable in a move to defend market share against non- OPEC producers like Russia and the United States, where production has soared as a result of the shale exploration boom. "We tried, we held meetings and we did not succeed because countries were insisting that OPEC carry the burden and we refuse that OPEC bears the...

  • RIYADH, March 22- OPEC will not take sole responsibility for propping up the oil price, Saudi Arabia's oil minister said on Sunday, signaling the world's top petroleum exporter is determined to ride out a market slump that has roughly halved prices since last June. Since the oil price collapse, top OPEC exporter Saudi Arabia has said it wants non- OPEC producers to...

  • RIYADH, March 22- Saudi Arabia's OPEC governor Mohammed al-Madi said on Sunday it would be hard for oil to reach $100- $120 per barrel- the peaks it hit last year before falling sharply due to a glut of crude and weakening demand. Last November, Organization of the Petroleum Exporting Countries kingpin Saudi Arabia persuaded members to keep production unchanged...

  • Commodities next week: Crude pops on day   Friday, 20 Mar 2015 | 4:00 PM ET
    Commodities next week: Crude pops on day

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Volatility on the day, as crude popped to close over $44.

  • ISIS: The richest terror group, spending too fast Friday, 20 Mar 2015 | 11:17 AM ET
    ISIS fighters on parade

    An analysis shows ISIS is the world's richest terror group, owing to a nearly $400 million raid on an Iraqi bank in 2014, NBC reports.

  • DUBAI/ KHOBAR, Saudi Arabia, March 20- As the global energy industry stares transfixed at a spectacular drop in U.S. rigs, Saudi Arabia is ramping up the number of machines drilling for oil and gas despite a sharp fall in the price of crude. Industry sources and analysts say the OPEC kingpin is looking beyond the halving of global oil prices since June 2014 to a time...

  • DUBAI, March 19- U.S. shale drilling may be slowing, but not fast enough for OPEC to change policy at its June meeting or to prevent oil prices maybe falling more, in the view of the group's Gulf members. At its last meeting in November, OPEC kingpin Saudi Arabia persuaded fellow members to keep production unchanged, accelerating the sharp oil price drop to a low around...

  • Five things to watch for from the Fed Wednesday, 18 Mar 2015 | 12:20 PM ET

    Wall Street widely expects the word "patient" to be dropped from the Fed statement, but there are several other potential bell ringers traders are watching.

  • GENEVA, March 17- Nigeria and Ivory Coast are looking to emulate Senegal's successful move into the market for Islamic bonds, the head of the Islamic Corporation for the Development of the Private Sector told Reuters. Despite strong growth in the Middle East and Southeast Asia, Islamic finance has lagged in Africa, home to a quarter of the world's Muslims,...

  • WASHINGTON, March 17- A possible deal over Iran's nuclear program that would phase out economic sanctions against Tehran is unlikely to flood world markets with more oil any time soon, despite Iran's declared intention to claw back market share lost because of the curbs. Many focus on how quickly Iran can technically resume pumping oil to pre-sanctions levels,...

  • OPEC far from blinking in oil price war Monday, 16 Mar 2015 | 5:35 PM ET
    An oil well owned an operated by Apache Corporation in the Permian Basin is shown in Garden City, Texas, Feb. 5, 2015.

    As tumbling U.S. oil prices bring a new round of pain for producers, OPEC appears to be far from blinking.

  • INTERVIEW-Shale oil to dominate Russia-OPEC talks in June Wednesday, 11 Mar 2015 | 10:47 AM ET

    MOSCOW, March 11- Russia said on Wednesday it would meet OPEC in June to discuss the impact of shale oil on global markets, just days before the producers' group decides whether its policy of high production is sufficient to stifle the U.S. energy boom. The comment, from Russian Energy Minister Alexander Novak, comes as Saudi Arabia has said in recent weeks it wanted...

  • RIYADH, March 10- Saudi Arabia's King Salman said he would fight corruption, diversify the economy and confront anybody who challenged the stability of the world's top oil exporter in his first big speech since taking power on Jan. 23. Addressing the chaos threatening the kingdom from around the region, he said no one would be allowed to tamper with Saudi Arabia's...

  • Tea party divided by Export-Import Bank Tuesday, 10 Mar 2015 | 10:55 AM ET
    William Schubert, president of a small infrastructure export firm

    Conservatives are frustrated by their failure to stop President Obama’s immigration and healthcare policies. The New York Times reports.

  • Kerry wraps up diplomacy with Iran deal seen close Saturday, 7 Mar 2015 | 2:41 PM ET
    John Kerry

    U.S. Secretary of State John Kerry wrapped up diplomacy within what experts say is striking distance of a nuclear deal with Iran.