Mike Harrowell, Director of Resources Research at BBY, says oil prices could fall to $15-20 a barrel unless Saudi Arabia cuts output to restore market balance.» Read More
OPEC agreed on Wednesday to keep exports unchanged, rebuffing consumer country calls for more crude to rein in $90-a-barrel oil.
OPEC's big Gulf producers are keeping the door open for higher oil exports when the group meets Wednesday in Abu Dhabi.
European planemaker Airbus named on Monday Saudi billionaire Prince Alwaleed bin Talal as the first private buyer of an A380 superjumbo, the world's largest passenger airliner.
So there we have it. A long, drawn out battle has been won once again by the globe’s mightiest oil producer: Saudi Arabia.
OPEC weighed a push by some members Monday to modestly boost its production quota amid stubbornly high oil prices and expectations of a spike later this year in the global demand for crude.
Will oil slump to $60 a barrel or soar to above $80? Barring any unforeseen geopolitical events, Stanford Group Energy analyst picks $60.
The U.S. justice department has launched a corruption probe into Britain's BAE Systems, a potential headache for Gordon Brown just hours before he succeeds Tony Blair as British Prime Minister.
Dow Chemical is close to deal to build a $20 billion petrochemical plant in Saudi Arabia, the Financial Times reported late Thursday.
U.S. crude oil futures ended lower for the third day in a row after government data showed supplies last week rose within market forecasts.
U.S. crude oil fell 2% on Tuesday on expectations of rising supplies and a rebound in refinery throughput ahead of summer driving season in the United States, the world's biggest market.
Crude oil futures ended lower, sliding late in a choppy session that saw May RBOB gasoline futures up sharply ahead of its contract expiration, reaching an 11-month high at one point, amid refinery snags and supply concerns.
Saudi Arabia said it foiled an al Qaeda-linked plot to attack oil facilities and military bases, arresting more than 170 suspects, including some trainee pilots preparing for suicide operations.
A Saudi Arabian investor has bought a 3.3 billion pound ($6.6 billion) stake in Europe's biggest bank HSBC Holdings in the past two months, and sees the stake as a long-term investment, his spokesman said.
Mitsui & Co., Japan's second-biggest trading house, has won a $763 million contract order together with a group of companies for a railway construction project in Saudi Arabia.
If you’ve been paying attention to the oil market lately, you’ve probably spent some time scratching your head. Crude oil prices seem to fluctuate on a day-to-day basis now, leaving investors to wonder when the volatility will end – and what’s behind it.
OPEC could make oil production cuts for the second time this year--so says the Saudi Oil Minister Ali Naimi. He says supply continues to outweigh demand. But it's not a done deal. The oil organization could wait until their December meeting in Nigeria-- to assess the impact of the October cuts--before cutting even more production