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Saudi Arabia

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  • Oil Prices Set Another Record, Closing Above $129 Tuesday, 20 May 2008 | 3:01 PM ET
    oil_new_3.jpg

    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
    opec.jpg

    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.

  • Massive Internet Outage Hobbles India Outsourcers Thursday, 31 Jan 2008 | 1:36 PM ET
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    India's lucrative outsourcing industry struggled Thursday to overcome Internet slowdowns and outages after cuts in two undersea cables sliced the country's bandwidth in half.

  • Citigroup CEO Is Against Breakup: Sources Tuesday, 29 Jan 2008 | 10:23 AM ET
    Citigroup

    Citigroup CEO Vikram S. Pandit is expected to resist calls from investors to break up the banking giant--including spinning off the Smith Barney brokerage firm-- as part of his review of Citigroup's operations, sources told CNBC.

  • High Oil Prices Tough on U.S. Economy, Bush Says Tuesday, 15 Jan 2008 | 4:27 AM ET

    U.S. President George W. Bush said on Tuesday oil prices were "very high" and tough for theU.S. economy to bear.

  • Citigroup's Layoffs Could Reach 24,000 This Year Monday, 14 Jan 2008 | 8:19 AM ET
    citi_ext2_OQ.jpg

    Citigroup plans to announce a writedown of as much as $24 billion and layoffs of up to 24,000 due to subprime and credit-related losses, CNBC has learned.

  • Citi to Get Investment from Saudi Prince, China: WSJ Friday, 11 Jan 2008 | 6:13 PM ET

    Saudi Arabian Prince Alwaleed bin Talal, Citigroup's largest individual shareholder, will inject new cash to help America's biggest bank grapple with heavy mortgage market losses, the Wall Street Journal reported on its Web site on Friday.

  • Saudis Plan $900 Billion Wealth Fund: FT Monday, 24 Dec 2007 | 3:19 AM ET

    Saudi Arabia plans to establish a sovereign wealth fund that may exceed $900 billion, which would likely be the largest in the world, the Financial Times reported on its Web site without naming sources.

  • 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.