Topic: Saudi Arabia

Oil prices slid with world shares and the euro on Wednesday as investors fretted about ths political situation in Greece and fled from riskier assets.

Top crude exporter Saudi Arabia wants an oil price of around $100 a barrel and would like to see global inventories rise before demand picks up in the second half of the year, Oil Minister Ali al-Naimi said on Sunday.

To understand the effect that events have  on global oil markets a key figure to watch is the amount of crude produced daily in each country. With data from the Energy Information Administration (EIA), a division of the Department of Energy, CNBC.com took a look at the countries that produce the most crude oil on that basis. (Production is defined as extraction from the Earth’s crust, prior to the refining process.)

Saudi Arabia appears to have been building crude oil inventories in lower domestic demand months in a scramble to offset the risks of “limited” effective spare production capacity, Goldman Sachs said on Wednesday.

Top oil exporter Saudi Arabia is determined to bring down high oil prices and is working with fellow OPEC members towards that goal, Oil Minister Ali al-Naimi said on Friday.

Texas energy mogul T. Boone Pickens told CNBC Thursday he thinks Brent North Sea oil could hit $148 a barrel this summer because demand is outrunning supply.

Saudi Arabia’s powerful oil minister, Ali Naimi, made a rare intervention into overheating oil markets on Tuesday, declaring that high oil prices were “unjustified” and vowing that the kingdom would boost its output by as much as 25 per cent if necessary. The Financial Times reports.

Saudi Arabia is preparing to extend this year's unexpected jump in oil sales to the United States, adding to speculation about the response of the world's top oil exporter to sanctions against Iran and a rally in prices.

The 13th International Energy Forum (IEF) kicks off on Tuesday in Kuwait City, bringing to the table energy ministers from 88 countries around the world representing some 90 percent of global supply and demand

The leaders of OPEC are "sitting around their table, setting the price of oil and laughing at us because we have no leadership," real estate mogul Donald Trump told CNBC Tuesday.

The world’s top oil exporter, Saudi Arabia, appears to have cut both its oil production and export in December, according to the latest update by the Joint Organizations Data Initiative (JODI), an official source of oil production, consumption and export data.

China is scouring the world for alternative oil supplies to replace a fall in its imports from Iran, as it seeks to negotiate lower prices from Tehran, and has been drawing heavily on Saudi Arabia.

An "element of fear" over Iran is playing into the price of oil despite higher supply and decreasing demand, Saudi Prince Alwaleed bin Talal al Saud told CNBC Monday.

Iran has indicated that its threat to cut oil supplies to European states in order to pre-empt a European Union oil embargo that comes into effect in July may be only a symbolic one.

A series of tit-for-tat statements between Iran and the European Union showed no signs of abating on Saturday, with the Iranian Oil Minister saying that oil exports “will certainly be cut to some European countries.”