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  • OPEC Leaves Oil Production Unchanged Wednesday, 5 Dec 2007 | 10:22 AM ET
    Abu Dhbai

    OPEC agreed on Wednesday to keep exports unchanged, rebuffing consumer country calls for more crude to rein in $90-a-barrel oil.

  • OPEC May Consider Boost In Oil Output Wednesday Tuesday, 4 Dec 2007 | 5:25 PM ET
    Abu Dhbai

    OPEC's big Gulf producers are keeping the door open for higher oil exports when the group meets Wednesday in Abu Dhabi.

  • Saudi Prince Buys 'Flying Palace' Airbus A380 Monday, 12 Nov 2007 | 2:31 PM ET

    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.

  • Saudis 1, Everyone Else 0 Tuesday, 11 Sep 2007 | 2:23 PM ET

    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 Considers Push for Modest Production Boost Monday, 10 Sep 2007 | 2:03 PM ET

    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.

  • U.S. Launches Corruption Probe into Britain's BAE Tuesday, 26 Jun 2007 | 2:07 PM ET

    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.

  • Saudi Investor Buys 3.3 Billion Pound HSBC Stake Monday, 16 Apr 2007 | 10:25 AM ET

    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 Wins $763 Million Order for Saudi Railway Monday, 2 Apr 2007 | 10:41 PM ET

    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.

  • Can Saudis Still Call The Shots On Oil? Wednesday, 31 Jan 2007 | 12:00 PM ET

    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