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Saudi Arabia

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  • oil_new_5.jpg

    Oil slipped off a record high of more than $143 a barrel as weak U.S. demand countered mounting tensions between OPEC nation Iran and Israel.

  • Oil Hits Record Above $140 on Weakening Dollar Friday, 27 Jun 2008 | 3:19 PM ET
    Oil Refinery in California

    Oil futures climbed to a new record near $143 a barrel Friday as the dollar weakened against the euro, confirming expectations that the falling greenback, a major factor in crude's stratospheric rise, will extend its decline and add to oil's appeal.

  • Oil Prices Close at Record $139.64 on OPEC Warning Thursday, 26 Jun 2008 | 3:13 PM ET
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    Oil futures shot above $140 Thursday after OPEC's president said oil prices could rise well above $150 a barrel this year and Libya said it may cut oil production.

  • Oil Closes Below $135 on Supply Boost, Weak Demand Wednesday, 25 Jun 2008 | 3:43 PM ET
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    Oil fell more than $2 on Wednesday after U.S. weekly data showed crude inventories in the world's top consumer rising as high fuel prices continued to erode demand.

  • Oil Prices Seesaw, Close at $137 on Supply Worries Tuesday, 24 Jun 2008 | 3:41 PM ET
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    U.S. crude oil futures edged up on, seesawing on reports of shut Nigerian output being restored and the threat of a strike shutting other output.

  • EADS Near $1 Billion Saudi-Iraq Border Deal Tuesday, 24 Jun 2008 | 7:06 AM ET

    A consortium led by European aerospace group EADS is favorite to win a $1 billion contract to build a border fence shielding Saudi Arabia from Iraq, executives at the Saudi business partner said.

  • oil_new_6.jpg

    Oil rose as Nigerian supply disruptions and escalating tensions between Israel and Iran outweighed Saudi Arabia's pledge to raise output and keep markets well-supplied.

  • Saudi Oil Production Capacity Increasing: Official Saturday, 21 Jun 2008 | 8:26 AM ET
    Oil Pump

    The Saudis will increase oil production capacity gradually over the next year, a senior advisor to the Minister of Petroleum told CNBC's Melissa Francis in an exclusive interview.

  • Saudi and China Make Biggest Impact On Oil Friday, 20 Jun 2008 | 4:35 PM ET
    Saudi Arabia

    Washington has been talking tough on oil prices on several fronts, calling for new trading regulations on speculators and reopening offshore oil drilling. But it's successful jawboning two of our major allies that seems to have had the biggest impact on prices this week.

  • Oil Friday, 20 Jun 2008 | 3:54 PM ET
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    The record run-up in oil prices over recent years is igniting fierce debate over the "peak oil" theory — that once the maximum rate of global production is reached, a steep decline ensues.   Here we present two squarely opposed viewpoints on the issues from rivals who have been sparring for years. 

  • Saudi 's Oil Fields on Viagra? Friday, 20 Jun 2008 | 9:53 AM ET

    Saudi Arabia has long been the world’s preeminent oil producer and the kingdom’s royal rulers want to keep it that way. But there is another possible narrative to the kingdom’s likely future – and ours too - which is far less comforting.

  • 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?