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  • Traders work on the floor of the New York Stock Exchange.

    After a rip-roaring week, Wall Street should be in better spirits when it gets back to work Tuesday.

  • MUNICH— Saudi Arabia's foreign minister on Friday defended his country's foreign policy and its stance in Yemen and Syria, insisting that the kingdom has no ambitions beyond its borders. Riyadh is also one of the main opponents of President Bashar Assad's government in Syria. He spoke after joining foreign ministers from global and regional powers— including...

  • *Iran seen as stumbling block, unlikely to agree-sources. Top exporter Saudi Arabia might be warming to the idea, though it was too early to say whether the kingdom would give its blessing because any deal depends mainly on a commitment by Iran to restrict its plan to boost exports, the sources said. The proposal of a production "freeze" at current levels was floated...

  • UPDATE 1-Russia's Sechin floats idea of oil output cuts Wednesday, 10 Feb 2016 | 5:15 AM ET

    *Says oil price drop driven by OPEC decision. Oil prices have slumped more than 70 percent to near $30 a barrel over the past 18 months as supply exceeded demand by up to 2 million bpd after OPEC, seeking to drive higher-cost producers out of the market, decided not to cut production. Struggling oil-producing countries have urged OPEC leader Saudi Arabia in recent...

  • Iran ready to cooperate with Saudis on oil: Report Tuesday, 9 Feb 2016 | 7:51 PM ET
    Iranian workers walk at a unit of South Pars Gas field in Asalouyeh Seaport, north of Persian Gulf, Iran November 19, 2015.

    Iran's oil minister said Tehran was ready to negotiate with Saudi Arabia over the conditions in oil markets, Iran's Press TV reported.

  • The Mideast countries hardest hit by oil prices Tuesday, 9 Feb 2016 | 4:49 PM ET
    A worker stands at a pipeline, watching a flare stack at the Saudi Aramco oil field complex facilities at Shaybah in the Rub' al Khali ('empty quarter') desert in Shaybah, Saudi Arabia.

    Here are the countries that are most resilient to the impact of oil prices—and those hit hardest.

  • We must all get used to a certain type of lifestyle that does not rely entirely on the state, " Saudi Arabia's ruler warned. In fact they were spoken almost two decades earlier by Crown Prince Abdullah, the kingdom's de facto regent, at the Gulf Cooperation Council summit held in Abu Dhabi on Dec. 8, 1998. Oil revenues have been fundamental in shaping the modern state...

  • DUBAI, Feb 7- Stock markets in Saudi Arabia and Egypt slipped in early trade on Sunday, erasing some of their gains in the previous session after oil prices reversed and global markets sold off at the end of last week. Saudi Cement rose 2.0 percent after the company recommended a dividend distribution of 3.00 riyals per share for the second half of 2015, versus a...

  • Syria: Foreign aggressors will go home 'in coffins' Saturday, 6 Feb 2016 | 9:00 AM ET
    Syrians walk on debris of collapsed buildings after the war-crafts belonging to the Russian army carried out airstrikes on the opposition-controlled neighborhoods in Aleppo, Syria on December 11, 2015.

    Syria will resist any incursion and send the aggressors home "in coffins," its foreign minister said, in comments aimed at Sunni Arab countries.

  • Day of reckoning here for oil producers: Yergin Friday, 5 Feb 2016 | 5:36 PM ET
    A worker checks the valve of an oil pipe at the Lukoil company owned Imilorskoye oil field outside the West Siberian city of Kogalym, Russia, January 25, 2016.

    Saudi Arabia, Russia and other countries that heavily rely on oil revenues are getting more desperate, oil expert Daniel Yergin tells CNBC.

  • NEW YORK, Feb 5- Oil prices ended the week lower in choppy trading on Friday, snapping two weeks of gains, as a frenzy of speculation about a possible deal between top oil producers clashed with concerns about a growing supply glut. After a volatile week's trading, much is riding on Sunday's meeting between Venezuelan Oil Minister Eulogio Del Pino and his Saudi...

  • NEW YORK, Feb 5- Oil prices ended the week lower in choppy trading on Friday, snapping two weeks of gains, as a frenzy of speculation about a possible deal between top oil producers clashed with concerns about a growing supply glut. After a volatile week's trading, much is riding on Sunday's meeting between Venezuelan Oil Minister Eulogio Del Pino and his Saudi...

  • NEW YORK, Feb 5- Oil prices were little changed in choppy trading on Friday, as a frenzy of speculation about a possible deal between top oil producers clashed with concerns about a growing supply glut. After a volatile week's trading, much is riding on Sunday's meeting between Venezuelan Oil Minister Eulogio Del Pino and his Saudi counterpart Ali al-Naimi in...

  • LONDON, Feb 5- Oil is on track to end the week lower after two consecutive weeks of gains in a volatile Friday session, as bearish fundamentals pressure prices despite bullish indications earlier in the week. International benchmark Brent crude futures were 53 cents lower at $33.93 per barrel at 1454 GMT, and down from an intraday high of $35.14.

  • Qatar's Energy Minister Mohammed al-Sada is the current holder of the rotating OPEC presidency. Del Pino later met Oman's Oil Minister Mohammad bin Hamad al-Rumhy, who "reiterated his support of the actions Venezuela has taken to stabilize the market," according to statements from the Oil Minister and state oil company PDVSA, over which Del Pino presides.

  • RIYADH, Feb 4- A devaluation of Saudi Arabia's currency could cause such political instability that Riyadh has little choice but to stick to its promise to use vast foreign exchange reserves to defend the riyal's 30- year-old peg to the U.S. dollar. It would be catastrophic, "said John Sfakianakis, a Riyadh- based economist. Some diplomats living in Saudi Arabia say...

  • These are early signs of capitulation for oil Thursday, 4 Feb 2016 | 1:07 PM ET
    A worker checks a valve at the Lukoil company owned Imilorskoye oil field outside the West Siberian city of Kogalym, Russia.

    Early signs of capitulation by oil producers could mean a bottom is getting closer.

  • *OPEC's Venezuela lobbies for producer meet to cut output. Crude rebounded from an earlier decline after an Iranian official was quoted as saying Tehran supported a meeting between OPEC and other oil producers- raising hopes they could take action to support prices despite widespread scepticism in the market. "Headlines continue to fly about an OPEC/ non- OPEC...

  • Qatar's Energy Minister Mohammed al-Sada is the current holder of the rotating OPEC presidency. Cash-strapped OPEC member Venezuela has been calling for an emergency meeting of producers to discuss steps to prop up prices, which are close to their lowest since 2003.. On Wednesday, Iranian news agency Shana quoted Del Pino as saying six producing countries,...

  • *OPEC's Venezuela lobbies for producer meet to cut output. LONDON, Feb 4- Oil slipped below $35 a barrel on Thursday after the previous session's 7 percent jump, pressured by oversupply and scepticism that Venezuela's effort to lobby crude producers for output cuts would succeed. Brent crude was down 39 cents at $34.65 a barrel at 1332 GMT.