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

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'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 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.

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 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.

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

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.

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 agreed on Wednesday to keep exports unchanged, rebuffing consumer country calls for more crude to rein in $90-a-barrel oil.

OPEC's big Gulf producers are keeping the door open for higher oil exports when the group meets Wednesday in Abu Dhabi.

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.