We need a strategy, says Sen. John McCain, (R-Ariz.), discussing transition in Saudi Arabia amid instability in the Middle East and ISIS terror attacks.» Read More
The fact that oil prices only rose $1 following the death of Saudi's King Abdullah means that prices will likely remain status quo moving forward, says John Bollinger , Founder of BollingerBands.com.
While the power transition in Saudi Arabia will not disrupt relations with the U.S., it may stall efforts to counter brewing turmoil in the region, says Stephen Yates, CEO of DC International Advisory.
Saudi Arabia's King Abdullah bin Abdulaziz Al Saud has died, state television reported early on Friday.
Saudi Arabia will want to maintain stability, so significant changes in foreign and economic policies are unlikely in the short term, says Robert Jordan, Former U.S. Ambassador to Saudi Arabia.
RIYADH, Jan 23- The death on Friday of Saudi Arabia's King Abdullah means Salman bin Abdulaziz has become the country's new ruler and the last to be born before the discovery of oil in the world's top crude exporter. As king, Salman, 78, will have to navigate regional turmoil caused by wars in Iraq and Syria, as well as a bitter rivalry with Shi'ite Muslim power Iran and...
RIYADH, Jan. 23- Saudi Arabia's King Abdullah bin Abdulaziz, born the year the first motorcar bumped through the dusty streets of Riyadh, left a modernizing legacy of cautious social and economic reform. King Abdullah, thought to have been born in 1924, had ruled Saudi Arabia as king since 2006, but had run the country as de facto regent for a decade before that.
CNBC's Hadley Gamble reports about the death of Saudi Arabia's King Abdullah, who is known as the "Great reformer" for pushing large-scale education and infrastructure projects in the oil-rich nation.
Here's what you need to know about Saudi Arabia's new monarch, King Salman bin Abdulaziz.
The Brookings Institution and JPMorgan Chase ranked 300 major cities worldwide for economic performance last year.
At Davos 2015, Dan Yergin, vice chairman of IHS, discusses global oil production and demand, from the U.S. to Saudi Arabia to Europe.
Based on list prices, the deal for the nine planes is worth approximately $2 billion, according to Dubai- based International Airfinance Corporation, which manages the fund. "We see demand for the A320 and A330 families, and potentially later on the A350," said Ghodbane, adding that the fund would consider deals for Airbus's largest jet, the A380, for longer lease...
*Budget deficits this year could total $80- 100 billion. DUBAI, Jan 19- Plunging oil prices could prompt Gulf Arab sovereign wealth funds to pull tens of billions of dollars out of global markets this year, with much of the money expected to come out of U.S. dollar debt and deposits with banks abroad. They have grown rapidly; including the foreign assets of Saudi...
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets and looks ahead to next week. A wild week for crude, but it ended up around 1 percent for the week.
Commodities analyst Helima Croft says Saudi Arabia will likely keep oil prices low only for the next six months.
TOKYO, Jan 14- U.S. crude futures edged above $46 a barrel on Wednesday, helped by a flurry of short-covering as traders moved to cash in profitable short positions as the price trades not far from a near six-year low hit a day earlier. *NYMEX crude for February delivery was up 14 cents at $46.03 a barrel by 2345 GMT, after settling down 18 cents on Tuesday.
KHOBAR, Saudi Arabia, Jan 13- Saudi Oil Minister Ali al-Naimi met U.S. Saudi Arabia, OPEC's dominant member state and the world's biggest oil exporter, has repeatedly said the group will not cut production. On Tuesday, United Arab Emirates Energy Minister Suhail bin Mohammed al-Mazroui stood by OPEC's decision to keep production unchanged.
Venezuela's President Nicolas Maduro is in Algeria on a diplomatic push to persuade reluctant fellow members of OPEC to prop up a sinking market by cutting output. Saudi Arabia, OPEC's dominant member state and the world's biggest oil exporter, has repeatedly said the group will not cut production. On Tuesday, United Arab Emirates Energy Minister Suhail bin...
Gareth Lewis-Davies, senior oil strategist at BNP Paribas, says that China is building up a strategic stock of oil, and that low prices provide a "good opportunity to dip into the market and accelerate purchases."
Goldman cuts 3- month Brent forecast to $42 from $80. "I figured we'd see $40 in the near term, but everything seems to be happening quicker than expected," Tariq Zahir of Tyche Capital Advisors. The bank cut its three-month forecasts for Brent to $42 a barrel from $80 and for the U.S. futures contract to $41 from $70.
NEW YORK, Jan 12- Oil slumped 5 percent to near six-year lows on Monday, accelerating its months-long rout after Goldman Sachs slashed its short-term price forecasts and Gulf producers showed no signs of curbing output. Brent was down $2.34 to $47.78 a barrel by 11:47 a.m. EST, after dropping as low as $47.18 to its lowest since April 2009. Analysts at Goldman...