OPEC is unlikely to cut output at its upcoming meeting, Saudi Arabia's oil minister said in comments published Tuesday, as indications mounted that the oil producing bloc would resist a temptation to tighten the taps despite wanting higher crude prices.
The fall in asset prices brought on by the financial crisis has shrunk the size of sovereign wealth funds belonging to oil-rich countries and Asian exporters, the World Street Journal reported on Wednesday on its Web site.
Peter Kenny, managing director of Knight Equities, and Charles Campbell, senior sales trader at Miller Tabak, weighed in on the best places to invest now.
Designers emphasized the importance of fashion meaning something during the current recession and suggested consumers will focus on uniqueness and affordability which is what they offer.
Chancellor of the Exchequer Alistair Darling predicted that the economy would contract at a rate of 3.5 percent in 2009, with a fall of around 1.6 percent in the fourth quarter.
This tiny U.S. ally is showing few signs of the world economic crisis, even as some of its Persian Gulf neighbors struggle with debt, stalled projects and the collapse in oil prices.
Saddled with slumping oil prices, U.S. sanctions and economic troubles, Iran appears to be pushing to entice foreign investment in its energy sector in a bid to woo allies abroad and secure political support at home as its hardline president faces an upcoming re-election battle.
OPEC should look to reduce oil supply further if demand is insufficient to absorb supplies, Iraq's oil minister said on Tuesday.
Uncertainty about how far world fuel demand and oil prices will fall has made it harder than ever for OPEC members to agree on how to balance group output policy against the divergent needs of their individual budgets.
A leading energy consultancy is warning that what it calls Iranian President Mahmoud Ahmadinejad's mismanagement of oil revenues could result in major economic woes for the country, regardless of the outcome of this summer's elections.
Here in Abu Dhabi, exactly 7,095 miles from Washington D.C. where President Obama will be sworn in this week, the great and the good of the energy world will be discussing, amongst other things, the key issue surrounding future energy: who's going to pay for it?
There’s a global movement gaining strength to capture carbon around the world. Having engaged in the act of sequestration -- removing, separating or seizing it -- the carbon is then stored.
Solar power technology company First Solar on Thursday said it struck a supply deal with Masdar Abu Dhabi Future Energy to be part of the largest grid-connected photovoltaic system in the Middle East.
Oil markets should brace for a surprise decision on output cuts when OPEC meets Dec. 17, the cartel's president said Saturday, suggesting that reductions could be deeper than expected.
Middle East countries can cope with the financial turmoil better than many other countries as they have the cash to survive and even invest, Sameer Al Ansari, CEO at Dubai International Capital, told CNBC Monday.
The developments show how the global financial crisis has torn through the Arab Peninsula, until recently thought immune due to massive sovereign savings and earnings from energy exports, with almost the same violence as in Europe and North America.
Has all the volatility in this market left you with indigestion? Maybe there’s relief ahead and we’re not talking antacid tablets.
Top oil exporter Saudi Arabia provided the most visible evidence yet of adhering to OPEC's deal to curb output by telling refiners in Asia that it would cut December supplies by 5 percent, term lifters said on Monday.
Top oil exporter Saudi Arabia has already cut significantly crude supplies to some of its customers, industry sources said on Tuesday, quelling doubts OPEC would stick to its latest output deal.
OPEC on Wednesday deepened its links with major non-OPEC producer Russia and said it was cutting back output by around half a million barrels per day.