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  • ABU DHABI, Dec 21- Saudi Arabia said on Sunday it would not cut output to prop up oil markets even if non- OPEC nations did so, in one of the toughest signals yet that the world's top petroleum exporter plans to ride out the market's biggest slump in years. "If they want to cut production they are welcome: We are not going to cut, certainly Saudi Arabia is not going to cut."

  • Saudi oil chief: No conspiracy behind oil prices Sunday, 21 Dec 2014 | 5:57 AM ET

    Non- OPEC member Russia and other nations like Iraq, Iran and Venezuela need prices substantially above present levels to meet budget goals and want to drive prices up. An OPEC meeting last month failed to agree on production cuts, mainly because of Saudi opposition to curb its own exports. OPEC controls about 40 percent of the world oil market and Saudi Arabia is...

  • ABU DHABI, Dec 21- The United Arab Emirates oil minister urged all of the world's producers on Sunday not to raise their oil output next year, saying this would quickly stabilise prices. "We invite everyone to do what OPEC did and take a step to balance the market through not offering additional products in 2015, and if everyone abides by OPEC decision, the market...

  • At a meeting in November, OPEC kept its target output of 30 million barrels per day unchanged, leaving the market to balance itself without the group's intervention. That stance was seen as a shift from a longstanding policy in which OPEC powerhouse Saudi Arabia acts as a swing supplier. Speaking in Abu Dhabi, the capital of the United Arab Emirates, he said: "The talk...

  • ABU DHABI, Dec 21- Iraq Oil Minister Adel Abdel Mahdi said on Sunday Iraq's total oil production would reach four million barrels per day after Baghdad reached an agreement on exports with Kurdish regional authorities. Mahdi made the remarks in a speech at a conference in Abu Dhabi. Iraq's government reached a temporary agreement with Kurdish regional...

  • DUBAI, Dec 21- Saudi Arabia's oil minister said on Sunday non-cooperation by producers outside of the Organisation of the Petroleum Exporting Countries and the actions of speculators had led to the oil price fall, but he was confident the market would improve. In a speech in Abu Dhabi, the minister, Ali al-Naimi, denied politics played a role in the kingdom's oil...

  • DUBAI, Dec 21- Saudi Arabia's oil minister said on Sunday non-cooperation by producers outside of the Organisation of the Petroleum Exporting Countries and the actions of speculators had led to the oil price fall, but he was confident the market would improve.

  • ABU DHABI- IRAQ OIL MINISTER SAYS SEES NO NEED FOR EMERGENCY OPEC MEETING.

  • ABU DHABI, Dec 21- One of the biggest reasons for the slide of oil prices is the "irresponsible" supply from producers outside OPEC, the United Arab Emirates oil minister said in a speech on Sunday. One of the big reasons is the irresponsible production of some producers from outside OPEC. " Mazroui also said the recent decision of OPEC not to cut its production was...

  • *Dubai stock market downturn evokes 2008 crash. *Stronger global economy due to cheap oil could help Dubai. So oil's current slide is being watched closely in Dubai.

  • Egypt receives 10 Apache helicopters from U.S. - sources Saturday, 20 Dec 2014 | 12:39 PM ET

    CAIRO, Dec 20- Egypt received 10 Apache helicopters from the United States in the past week, security sources said on Saturday, a sign of easing tensions between the long-time allies confronting Islamist extremism across the region. Egypt is fighting an Islamist insurgency targeting mostly security personnel and based mainly in the lawless Sinai Peninsula...

  • What needs to happen next in Iraq Friday, 19 Dec 2014 | 5:27 PM ET
    Peshmerga fighters departed from the Zommar district arrive in the Sinun town of Sinjar district of Mosul, to fight against Islamic State of Iraq and Levant, in Iraq on December 19, 2014.

    The next thing that needs to happen in Iraq is liberating Mosul, says David Phillips. Here's now local leaders envsion it.

  • *Tunisia held up as symbol of democratic change. It is a symbol, he says, of the kind of statesman Tunisia now needs. But the race between Essebsi and incumbent President Moncef Marzouki, the human rights activist named president after the first free election of 2011, is also dominated by questions over the return of those close to Ben Ali, who fled to Saudi Arabia.

  • UNITED NATIONS, Dec 18- Iran has not demonstrated sufficient flexibility in nuclear talks with six world powers aimed at ending a 12- year standoff with the Islamic Republic over its atomic ambitions, France and Britain said on Thursday. The remarks, at the United Nations, came just after the completion of another inconclusive round of negotiations in Geneva...

  • UNITED NATIONS, Dec 18- Iran has not demonstrated sufficient flexibility in nuclear talks with six world powers aimed at ending a 12- year standoff with the Islamic Republic over its atomic ambitions, France and Britain said on Thursday. The remarks at the United Nations came just after the completion of another inconclusive round of negotiations in Geneva...

  • ZURICH, Dec 18- Denise Anderegg is happy enough about the Swiss National Bank's decision to charge banks for deposits. Foreign banks that accept overseas deposits seeking a safe haven in Switzerland are likely to be hit hardest, according to bankers and economists. Credit Suisse, UBS and cooperative bank Raiffeissen have said they will not be affected by...

  • But the global context together with new reforms due to kick in next year are leading some to bet that France can achieve its 1 percent growth target for next year- modest by many standards but more than twice the 2014 growth estimate of 0.4 percent. "The chances of the government getting the 1 percent growth it based its budget on have risen quite substantially,"...

  • Abu Dhabi's Etihad gets A380, complete with suite Thursday, 18 Dec 2014 | 12:17 PM ET

    ABU DHABI, United Arab Emirates— Abu Dhabi's national carrier, Etihad, showcased on Thursday the arrival of its first Airbus A380, outfitted with "the only three-room suite in the sky." The A380 is the first of a fleet of 10 on order from Etihad Airways, which is to take delivery of four more of the double-decker jets next year. The airline also showcased Thursday its...

  • Aer Lingus rejects bid by British Airways parent Thursday, 18 Dec 2014 | 11:24 AM ET

    DUBLIN— Irish airline Aer Lingus has rejected a takeover bid by the International Consolidated Airlines Group, the parent company of British Airways and Spain's Iberia. Those gains were sharply pared after IAG issued a statement confirming its proposal had been rejected by the Aer Lingus board, but the stock still finished Dublin trading up 9 percent at a...

  • Saudi says oil decisions not linked to politics Thursday, 18 Dec 2014 | 10:08 AM ET

    RIYADH, Saudi Arabia— Saudi Arabia's oil chief said in comments published Thursday that there are no links between the kingdom's decision to oppose production cuts and political objectives— an apparent response to accusations last week from Shiite powerhouse Iran. Petroleum Minister Ali Naimi was quoted by the official Saudi Press Agency as saying that...