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Saudi Arabia

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  • OPEC Hike Unlikely at Jeddah Emergency Oil Talks Friday, 20 Jun 2008 | 3:48 AM ET
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    Eight-cylinder luxury cars will rumble along Jeddah's highways guzzling cheap Saudi gasoline as energy powers hold emergency talks in the Red Sea port this weekend to brake the free-wheeling rise in oil prices.

  • John Kilduff

    Just after the start of trading, today, it was announced that virtually all categories of transportation fuels would rise 1,000 to 1,500 Yuan per tonne. International measures of fuels are often represented in metric tonnes, as opposed to our more familiar gallons.

  • Venezuela Will Not Attend Saudi Oil Meeting Thursday, 19 Jun 2008 | 4:15 AM ET

    Venezuela will not attend a meeting of oil consumers and producers this coming weekend and sees no need to up output, the country's oil minister said on Wednesday.

  • Oil Reverses Course; Over $136 on Supply Concerns Wednesday, 18 Jun 2008 | 3:07 PM ET
    Oil Pipeline

    Oil rose as a strike threat by oil workers in OPEC nation Nigeria stoked supply concerns ahead of a meeting of top producers and consumers aimed at tackling soaring energy prices.

  • Oil Falls Below $134 on Saudi Output Hike Plan Tuesday, 17 Jun 2008 | 2:54 PM ET
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    Oil prices slipped from record highs on plans by top exporter Saudi Arabia to increase crude output to help curb soaring fuel costs.

  • Oil Closes Below $135 after Hitting Intraday Record Monday, 16 Jun 2008 | 4:29 PM ET
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    Oil prices eased Monday as top world producer Saudi Arabia appeared poised to boost production to the highest level in decades to ease a record rally that has threatened global economic growth.

  • Saudis to Host Oil Producers, Consumers to Talk Prices Tuesday, 10 Jun 2008 | 1:41 PM ET
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    Saudi Arabia will host a meeting of oil producers and consumers on June 22 to discuss record-high prices that are unbearable, OPEC's Secretary General said on Tuesday.

  • Saudi Arabia Pumps Extra Oil to Match Demand Wednesday, 28 May 2008 | 8:22 AM ET
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    Top oil exporter Saudi Arabia has boosted supply to help meet the world's need for fuel and may further increase output later if needed, a senior Gulf OPEC source said on Wednesday.

  • Will Saudis Turn On Spigot? Thursday, 22 May 2008 | 6:14 PM ET

    With crude prices gushing ever higher we can’t help but wonder why Saudi Arabia won’t help more. Aren’t they supposed to be our friend?

  • Oil Prices Set Another Record, Closing Above $129 Tuesday, 20 May 2008 | 3:01 PM ET
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    Crude oil prices once again set both intraday and Nymex closing record highs Tuesday, driving toward $130 a barrel mid-day and finishing above $129 amid deepening worries over tight global stockpiles.

  • Oil Closes at Another Record, Above $127 Monday, 19 May 2008 | 2:57 PM ET

    Oil was above $127 a barrel seesaw trading Monday as crude prices were hit alternately by profit-taking and comments from OPEC's president that the producer group would not increase output at its next meeting in September.

  • Oil Prices Finish at Record Above $126 a Barrel Friday, 16 May 2008 | 7:03 PM ET
    Oil Refinery

    Oil prices shot to new highs again Friday as traders, unimpressed by U.S. and Saudi efforts to boost supply, kept buying on the belief that prices had more room to rise.

  • Striking Out On Energy Friday, 16 May 2008 | 5:12 PM ET

    President George W. Bush and Sen. John McCain went to bat on energy policy this week. And guess what? They both struck out. Bush went hat in hand to the Saudis to ask for more oil production in order to bring down world prices.

  • US to Suspend Buying Oil For Strategic Reserve Friday, 16 May 2008 | 3:40 PM ET
    Oil Refinery

    The Energy Department said Friday it will not add millions of barrels of oil to the Strategic Petroleum Reserve, a move sought by Congress to battle record fuel costs but in the end will likely have little impact on lowering prices.

  • Oil Firms 'In Liquidation,' Says 'Peak Oil' Advocate Tuesday, 25 Mar 2008 | 1:26 PM ET
    Matt Simmons

    Oil majors can't get ahead of production declines despite spending on unconventional sources, an energy sector investment banker says.

  • The 'Peak Oil' Theory: Will Oil Reserves Run Dry? Thursday, 20 Mar 2008 | 6:27 PM ET
    Matt Simmons

    The concept of "peak oil" could  be thrown out the window if vast offshore and unconventional sources can be developed. Two experts weigh in on the subject.

  • Citigroup Reaches Out to Ex-CEO Reed for Advice Thursday, 13 Mar 2008 | 12:16 PM ET
    John Reed

    As CEO Vikram Pandit continues his massive overhaul of Citigroup's operations, he's reaching out to some unusual help: former CEO John Reed.

  • Citigroup to Cut Mortgage Exposure by $45 Billion Thursday, 6 Mar 2008 | 4:24 PM ET
    Citigroup Center

    Citigroup said it aims to cut its home loan exposure by $45 billion, reduce risk and save $200 million a year in an overhaul of its U.S. residential mortgage business.

  • Citigroup's Job Cuts Could Total More Than 30,000 Tuesday, 4 Mar 2008 | 2:34 PM ET
    Citigroup

    Citigroup's job cuts could reach 30,000 or more over the next year and a half because of increasing writedowns from subprime related debt, CNBC has learned

  • OPEC Maintains Oil Output, May Cut in March Friday, 1 Feb 2008 | 9:22 AM ET
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    OPEC on Friday kept oil supplies unchanged and began a debate about whether or not to deploy production curbs in March to defend prices against a drop in demand should recession bite in the United States.