Business Saudi Arabia

  • DUBAI, Aug 31- Saudi Arabia does not target a specific level of oil production and its output is based on customers' needs, the energy minister of the world's largest oil exporter said. Speaking during an official visit to China, Khalid al-Falih told al-Arabiya TV channel that despite low crude prices he was optimistic for global demand, that demand for crude in...

  • DUBAI, Aug 31- Saudi Arabian Energy Minister Khalid al-Falih said the top crude exporter does not target a specific figure for its oil production and that its output is based on customers' needs. "We in the kingdom of Saudi Arabia do not have a targeted number to reach. Speaking during an official visit to China, Falih said that despite low crude prices, "demand for oil...

  • DUBAI, Aug 30- Saudi Arabia signed 15 preliminary agreements with China on Tuesday in sectors from energy to housing on a trip headed by Deputy Crown Prince Mohammed bin Salman aimed at bolstering relations with a top energy customer and trade partner. In April, Prince Mohammed launched radical economic reforms designed to develop non-oil industries in Saudi...

  • DUBAI, Aug 30- Saudi Arabia signed 15 preliminary agreements with China on Tuesday in sectors from energy to housing on a trip headed by Deputy Crown Prince Mohammed bin Salman aimed at bolstering relations with a top energy customer and trade partner. Prince Mohammed arrived in China on Monday for talks on economic ties as well as security issues.

  • CNBC's Hadley Gamble discusses the issues ride hailing services Uber and Careem are facing in Abu Dhabi and Saudi Arabia, including security concerns and service suspension.

  • An armed watchman stands on the prow of the USS Nitze, moored at the Mocangue Island's Brazilian Navy base in Brazil, on April 27, 2011.

    Iran's Islamic Revolutionary Guard Corps vessels "harassed" a U.S. warship on Tuesday near the Strait of Hormuz, a U.S. defense official said.

  • Crude oil production

    The next trough in oil prices could come just as OPEC members gather in Algeria next month – and that could make for an interesting, and more unpredictable outcome.

  •  Couple dealing with issues, sadness

    A Fed rate hike is looking more likely for September. And that's just one of the headwinds facing the stock market in the fall, says John Kilduff.

  • DUBAI, Aug 24- Saudi Arabia's powerful Deputy Crown Prince Mohammed bin Salman will discuss the kingdom's drive to cut its reliance on oil exports in visits to China and Japan that begin next week, Saudi media and sources said on Wednesday. From Japan, Prince Mohammed will return to China to chair Saudi Arabia's delegation to the Sept. 4-5 summit of leaders of the...

  •  Iran oil plant under construction with Iran Flag

    Iran is sending positive signals that it may support joint action to prop up the oil market.

  • *Russia waiting for internal OPEC agreement, says source. DUBAI/ LONDON, Aug 23- Iran is sending positive signals that it may support joint action to prop up the oil market, sources in OPEC and the oil industry said, potentially aiding efforts to revive a global deal on freezing production levels at talks next month. Tehran refused to join a previous attempt this year...

  • *Iraq crude exports to grow by 150,000 bpd this week. On the crude oil front, U.S. drillers added 10 oil rigs in the week to Aug. 19, the eighth straight week of rig additions, as crude rebounded toward the $50- a-barrel mark that makes drilling viable. Elsewhere, Iraq plans this week to increase exports of Kirkuk crude by 150,000 bpd from its northern fields while...

  • A worker walks past a drilling rig of the Rosneft-owned Prirazlomnoye oil field outside the West Siberian city of Nefteyugansk, Russia.

    Brent crude fell back below $50 a barrel on Monday as analysts doubted upcoming producer talks would rein in oversupply.

  • In the United States, BP Plc's 413,500 barrel per day refinery in Whiting, Indiana, returned to normal production for the first time since late July, adding to refined products supply. On the crude oil front, U.S. drillers added 10 oil rigs in the week to Aug. 19, the eighth straight week of rig additions, as crude rebounded toward the $50- a-barrel mark that makes...

  • NEW YORK, Aug 22- Oil prices fell more than 2 percent on Monday, retreating from last week's two-month highs, on worries about burgeoning Chinese fuel exports, more Iraqi and Nigerian crude shipments and a rising U.S. oil rig count. U.S. drillers added 10 oil rigs in the week to Aug. 19, the eight straight week of rig additions, as crude rebounded towards the $50 a barrel...

  • A worker checks the valve of an oil pipe at Al-Sheiba oil refinery in the southern Iraq city of Basra, April 17, 2016.

    Oil prices surged dramatically in the last two weeks thanks to OPEC freeze talk, but there's little expectation the cartel will act.

  • Oil worker working on an oil rig

    Bubbling oil prices, up 23 percent in 15 days, will be a focus Friday as traders watch the latest U.S. rig count data.

  • An oil well owned an operated by Apache Corporation in the Permian Basin is shown in Garden City, Texas, Feb. 5, 2015.

    Crude oil prices rose for a sixth straight day on Thursday as producers prepared to discuss a possible freeze in output levels.

  • *Thousands of foreign workers laid off in construction slump. *Many not paid wages for months. QADISIYA LABOUR CAMP, Saudi Arabia, Aug 18- M igrant construction workers, abandoned in their thousands by Saudi employers in filthy desert camps during the kingdom's economic slump, say they will not accept a government offer of free flights home unless they receive...

  • A worker at the Nahr Bin Umar field, Iraq.

    The oil rally paused on Wednesday as a surprise draw in U.S. crude and gas stocks was offset by reports Saudi Arabia is increasing its output.