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  • KUWAIT CITY— Kuwait's named a new oil minister on Sunday after disputes arose between his predecessor and top executives at state-owned firms. Al-Omair was facing resistance from the head of Kuwait Petroleum Corp., who refused to implement the minister's order to replace the chief executives for two of the company's subsidiaries, Kuwait Oil Co. and Kuwait...

  • *OPEC secretary-general upbeat on market outlook. KUWAIT CITY, Oct 12- Kuwait said on Monday there were no calls within OPEC to change the oil group's production policy and that lower output from high-cost producers could support prices in 2016, adding to signs OPEC will keep its strategy of defending market share. While oil is hurting OPEC revenues by trading...

  • Could OPEC be ready for a production hike? Friday, 5 Jun 2015 | 3:01 AM ET
    Iraq oil

    Two different oil ministers from OPEC have suggested the cartel could raise its production target.

  • Could OPEC hike supply on Friday? Thursday, 4 Jun 2015 | 11:10 AM ET
    Could OPEC hike supply on Friday?

    Ali Saleh al-Omair, oil minister for Kuwait, discusses OPEC and the waning issue of oil oversupply.

  • At OPEC, some sow seeds of solar energy race in Gulf Thursday, 4 Jun 2015 | 10:16 AM ET

    VIENNA, June 4- To hear the oil ministers of Saudi Arabia and Kuwait talk about it this week, the race to develop massive solar power arrays in the world's sunniest nations is nearly as important as the current battle for oil market share. At a major conference in Vienna attended by the world's most influential oil officials and executives, the two OPEC powerhouses...

  • Ticking time bombs: Where oil's fall is dangerous Tuesday, 16 Dec 2014 | 10:13 AM ET
    Venezuela is one of the nations most threatened by civil unrest resulting from low oil prices. The Latin American nation has already experienced discord this year, as shown in this image of protesters in Caracas in February.

    Lower oil prices are good for some countries and bad for others. In a few, things could get ugly.

  • The countries slammed worst by plunging oil prices Friday, 5 Dec 2014 | 1:01 PM ET
    An employee looks out over the petroleum-cracking complex at the Lukoil-Nizhegorodnefteorgsintez oil refinery in Nizhny Novgorod, Russia, Dec. 4, 2014.

    This is not a great time to be an oil producer, but some countries are hurting more than others.

  • Gulf OPEC producers agree not to cut output Wednesday, 26 Nov 2014 | 2:55 PM ET
    Workers check the valves at the Taq Taq oil field in Arbil, Iraq, in this Aug. 16, 2014 photo.

    The minister said he is confident the group will reach a unified decision, and that the meeting will last only one day.

  • Big oil question: When—and if—output cuts will come Thursday, 11 Sep 2014 | 9:55 AM ET
    An oil drilling rig operated by Petroleos Mexicans (Pemex) off the coast of Ciudad del Carmen, Mexico.

    Traders are concerned that longer-term global growth will impact demand for crude oil. So will producers scale back?

  • Arab Spring impact on KIPCO very limited Wednesday, 25 Jun 2014 | 7:00 PM ET
    Arab Spring impact on KIPCO very limited

    In exclusive interview with CNBC, Faisal Al Ayyar, Vice Chairman of KIPCO, reflects on the firm's core subsidiaries, expansion plans and the situation in Iraq.

  • Kuwaitis are entrepreneurs: KIPCO vice-chairman Wednesday, 25 Jun 2014 | 7:00 PM ET
    Kuwaitis are entrepreneurs: KIPCO vice-chairman

    KIPCO Vice Chairman Faisal Al Ayyar looks back at the day when Iraqi soldiers marched into the capital in 1990, and how it affected the business. Plus, why opportunities for foreign investors in the oil-rich nation remain limited.

  • Is Kuwait's 'welfare' restricting the economy? Wednesday, 25 Jun 2014 | 7:00 PM ET
    Is Kuwait's 'welfare' restricting the economy?

    Kuwait Projects Co (KIPCO) is one of the biggest diversified holding companies in the MENA region. Faisal Al Ayyar, the firm's Vice Chairman, criticizes Kuwait's low productivity, and says its oil wealth turned into a curse.

  • Worried About OPEC Meeting? You May Be the Only One Tuesday, 28 May 2013 | 8:25 AM ET
    The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen at the headquarters building in Vienna.

    Oil traders should not lose too much sleep worrying about what OPEC, often unpredictable and quarrelsome in the past, will do when it meets next week.

  • Reuters World News Highlights 2205 GMT Nov 1 Thursday, 1 Nov 2012 | 10:05 PM ET

    GREEN BAY, Wisconsin- President Barack Obama and Republican Mitt Romney were back on the attack on Thursday, breaking a storm-induced campaign truce to hit the road and pound home their closing messages in the final stretch of a tight battle for the White House.

  • Reuters World News Highlights at 0945 GMT, Nov 01 Thursday, 1 Nov 2012 | 10:16 AM ET

    LONDON- Britain threatened on Thursday to veto any deal on the European Union budget that is not good for the British taxpayer, a day after a humiliating defeat in parliament undermined Prime Minister David Cameron's authority.

  • Qatar's flowering relationship with Paris Wednesday, 31 Oct 2012 | 12:01 AM ET

    When plans for Qatar to create a €50 m euro fund to invest in some of Paris's poorest suburbs emerged last month, the French political right and left united in disapproval. Yet the reaction shows a fundamental misunderstanding of the way Qatar operates globally and what it is trying to achieve.

  • *Dana Gas' $920 mln convertible Islamic bond matures Oct. 31. DUBAI, Oct 30- Dana Gas is set to become the first United Arab Emirates company to fail to pay an Islamic bond on maturity, three sources familiar with the matter said on Tuesday, sending its stock and bond prices sharply lower.

  • *Most states have enough savings, $1.6 trillion in 2011. DUBAI, Oct 29- Most Arab oil exporting countries in the Gulf should plan to reduce growth in government spending to make their budgets more sustainable, as their combined surplus could turn into a deficit around 2017, the International Monetary Fund said on Monday.

  • WASHINGTON, Oct 25- Raytheon Co, maker of Patriot missiles, radar and other military equipment, reported higher-than-expected quarterly earnings on Thursday despite a 1 percent drop in revenues, and it raised its forecast for 2012 earnings.

  • Iran looks to Silk Road ties in time of sanctions Wednesday, 24 Oct 2012 | 2:36 AM ET

    DUBAI, United Arab Emirates-- In back-to-back Asian summits this month, Iran's president made sure to carve out special time to look east. At one gathering in Azerbaijan, Mahmoud Ahmadinejad reminded the president of Kazakhstan about the vision of a railway linking the heart of Central Asia with Iran's warm ports.