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Business Saudi Arabia


  • *OPEC output up more than 1.7 mln bpd since policy shift. LONDON, July 31- OPEC oil output reached the highest monthly level in recent history in July, a Reuters survey found on Friday, as Saudi Arabia and other key members show no sign of wavering in their focus on defending market share instead of prices. OPEC supply has risen in July to 32.01 million barrels per day...

  • CNBC update: Egg McMuffins for all! Wednesday, 22 Jul 2015 | 10:30 AM ET
    CNBC update: Egg McMuffins for all!

    Defense secretary Ash Carter arrives in Saudi Arabia for scheduled meetings with King Salman; one of Indonesia's busiest international airports closes due to a volcanic eruption; and McDonald's could start offering all day breakfast, reports CNBC's Courtney Reagan.

  • That oil glut is turning into a glut at the pump Tuesday, 21 Jul 2015 | 12:09 PM ET
    A customer prepares to fuel her vehicle at a Road Ranger gas station in Princeton, Illinois.

    With U.S. refineries running at record levels, the global oil glut is turning into a fuel glut.

  • Iran is opening for business—unless you're from US Friday, 17 Jul 2015 | 12:59 PM ET
    Two veiled women look at smart phone brands in Paytakht computer mall in Tehran, Iran.

    European and Asian business could pour into Iran if sanctions are lifted, but U.S. law would keep most Americans on the sidelines.

  • DUBAI, July 16- Bond issues by Saudi Arabia's government are expected to be worth tens of billions of dollars by the end of 2015 as the state ramps up debt sales to plug a hole in finances created by low prices for oil exports. Central bank governor Fahad al-Mubarak announced last week that Riyadh had sold its first sovereign bonds since 2007, a 15 billion riyal...

  • Saudi media attack Iran deal as assault on Arab interests Wednesday, 15 Jul 2015 | 7:36 AM ET

    Riyadh's official reaction to the deal was a terse statement that welcomed any agreement that would ensure Iran could not develop a nuclear arsenal, but stressed the importance of tough inspections and the ability to reimpose sanctions quickly. In private, however, Saudi officials fear an Iran released from international pressure and economic sanctions...

  • Iran deal: Not perfect, but better than nothing Tuesday, 14 Jul 2015 | 8:36 PM ET
    Iran deal: Not perfect, but better than nothing

    James Acton, Co-director of the Nuclear Policy Program at Carnegie Endowment, explains why Tuesday's nuclear deal is better than existing alternatives.

  • Oil to come under pressure: Wells Fargo Tuesday, 14 Jul 2015 | 7:43 PM ET
    Oil to come under pressure: Wells Fargo

    Margaret Patel, Portfolio Manager at Wells Fargo Funds Management, says incremental supply from Iran is likely to be a catalyst for lower oil prices going forward.

  • Why Iranian crude won't be arriving anytime soon Tuesday, 14 Jul 2015 | 6:07 PM ET
    Why Iranian crude won't be arriving anytime soon

    Matt Smith, Director of Commodity Research at ClipperData, says sanctions against Tehran won't be lifted until December so until then, Iranian crude won't be hitting export markets.

  • Iranian crude could return in months: Pro Monday, 13 Jul 2015 | 10:07 PM ET
    Iranian crude could return in months: Pro

    Jason Feer, Head of Business Intelligence at Poten & Partners, believes Iranian crude could return to oil markets in a matter of months.

  • Nuclear deal to shed light on Tehran's intentions Monday, 13 Jul 2015 | 8:23 PM ET
    Nuclear deal to shed light on Tehran's intentions

    Austin Long, Assistant Professor at Columbia School of International and Public Affairs, believes the P5+1 will likely lift the arms embargo to get a deal that could unveil Iran's nuclear ambitions.

  • DUBAI, July 12- Japan's Bank of Tokyo-Mitsubishi UFJ said it had obtained permission from the Dubai Financial Services Authority to operate a so-called Islamic window, underlining growing Japanese interest in sharia-compliant banking. BTMU decided to take the step after Japan's Financial Services Agency changed its supervisory guidelines, the bank said...

  • Iran nuke deal could set off an arms race Friday, 10 Jul 2015 | 2:40 PM ET
    Two Iranian navy warships dock in the Sudanese Red Sea city of Port Sudan.

    An Iran nuclear deal could mean a possible arms race in the Middle East——or improved relations between historic enemies, experts say.

  • Why oil could revisit its lows and then some Tuesday, 7 Jul 2015 | 3:43 PM ET
    A floor hand works on an oil rig in the Bakken shale formation outside Watford City, N.D.

    After another volatile session, oil increasingly looks set to test its lows of the year.

  • *Iraq exports hit record despite Baghdad, KRG tension. LONDON, June 30- OPEC oil supply in June has climbed to a three-year high due to record or near-record output from Iraq and Saudi Arabia, a Reuters survey found, underlining the focus of the group's top exporters on market share. OPEC supply has risen in June to 31.60 million bpd from a revised 31.30 million bpd in...

  • DUBAI, June 29- An assault on a Tunisian resort, which killed 39 people, has sent holidaymakers fleeing and dealt a major blow to the country's tourism industry, but the broader economy should be robust enough to withstand the shock. European tour operators are evacuating thousands of tourists after Friday's attack by a lone militant on a beach in Sousse and many...

  • This could be the tipping point for oil prices Sunday, 28 Jun 2015 | 6:26 PM ET

    Iran's nuclear talks may be the catalyst to break oil prices out of a tight trading range, created by record oil production meeting a wave of surprisingly strong demand.

  • June 25- Saudi Arabian Airlines will take delivery of 50 aircraft from Airbus in the largest aviation deal to be secured via Islamic financing, as the European planemaker tries to gain an edge over rival Boeing in the key Gulf aviation market. Dubai- based International Airfinance Corporation, an Airbus- backed sharia-compliant aircraft leasing fund, will buy...

  • Cramer Remix: Most artificial move I’ve seen Tuesday, 23 Jun 2015 | 7:57 PM ET
    Jim Cramer on the set of Mad Money

    “Mad Money” host Jim Cramer thinks you need to temper your excitement.

  • Cramer—Undervalued oil stocks begging to be bought Tuesday, 23 Jun 2015 | 6:57 PM ET
    Oil fracking California

    Jim Cramer sees plenty of oil stocks out there that are ridiculously low and thinks it is time to do some buying.