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Business Saudi Arabia


  • Could $30 oil be on the cards? Wednesday, 12 Aug 2015 | 12:46 AM ET
    Could $30 oil be on the cards?

    David Hewitt, co-head of global oil & gas equity research at Credit Suisse, discusses the possibility of oil prices falling to $30 a barrel.

  • OPEC just kicked oil into the $30s Tuesday, 11 Aug 2015 | 12:23 PM ET
    A worker walks at Nahr Bin Umar oil field, Iraq, Nov. 23, 2014.

    Increased pumping by OPEC as Chinese demand appears to be slackening could drive oil to the lowest prices since the peak of the financial crisis.

  • Saudi's cash deficit Monday, 10 Aug 2015 | 8:32 AM ET
    Saudi's cash deficit

    Insight to the stability of Saudi Arabia's economy, with Greg Priddy, Eurasia Group.

  • Saudi, Russia: Expect closer relationship Monday, 10 Aug 2015 | 4:30 AM ET
    Saudi, Russia: Expect closer relationship

    Russian foreign minister, Sergey Lavrov, is to meet Saudi Arabian counterpart on Tuesday, with talks expected to be based on energy and the Middle East.

  • At $50 oil, spending cuts could be postponed three years. DUBAI, Aug 9- Pressure on Saudi Arabia's state finances is mounting as oil prices fall but the latest official figures suggest the world's top crude exporter still has at least several years before it faces a budget crunch. Brent oil sank last week below $50 a barrel, near six-year lows, from $70 three months...

  • Commodities next week: Oil down 6th straight week Friday, 7 Aug 2015 | 3:41 PM ET
    Commodities next week: Oil down 6th straight week

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets and looks ahead at where oil and precious metals are likely headed next week.

  • Why oil prices could stay lower for longer Thursday, 6 Aug 2015 | 6:00 AM ET
    A worker pauses while drilling for oil on a derrick in the Bakken shale formation outside Watford City, North Dakota.

    The oil market is setting up for a prolonged period of low prices.

  • *Saudi, UAE, other money market rates start to rise. DUBAI, Aug 5- The days of very easy money are drawing to a close in the rich Gulf Arab oil-exporting economies as money market rates start to rise, partly because of the damage which cheap oil is doing to government finances. Loose liquidity created by inflows of oil money pushed short-term rates in Saudi Arabia, the...

  • In the oil market, $30 is the new $50 Tuesday, 4 Aug 2015 | 4:00 PM ET

    Analysts say oil market fundamentals are very bearish, and it would not be surprising to see crude take a temporary dive into the $30s per barrel in the next several months.

  • Oil dip triggers global trouble spots Tuesday, 4 Aug 2015 | 6:22 AM ET
    Oil dip triggers global trouble spots

    Helima Croft, RBC Capital Markets, discusses how cheap crude prices are impacting oil-focused economies and whether prices are headed lower from here.

  • Oil craters, set to retest lows Monday, 3 Aug 2015 | 4:55 PM ET
    An oil well owned an operated by Apache Corporation in the Permian Basin is shown in Garden City, Texas, Feb. 5, 2015.

    Oil prices have now broken below many Wall Street targets and look set to test the year's lows and beyond, before finding a bottom.

  • *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...

  • Cramer: What's really behind explosive earnings Wednesday, 29 Jul 2015 | 6:12 PM ET
    Buffalo Wild Wings Inc. signage is displayed outside of a restaurant in San Ramon, California.

    Jim Cramer opens up his chest of knowledge to explain the real catalyst behind what drives a stock to explode on earnings.

  • Is it time to buy oil? Tuesday, 28 Jul 2015 | 4:22 PM ET
    A file photo shows an Iranian worker at the South Pars field in the southern Iranian port town of Asaluyeh.

    The Iran nuclear deal could help stabilize oil prices and even give them a boost, says Nasdaq's Tamar Essner. But here's what has to happen first.

  • Tough times strike Saudi Arabia’s millionaires Monday, 27 Jul 2015 | 10:35 AM ET

    Turmoil in the Middle East, an unimpressive international stock market debut and tumbling oil prices will hit the wealth of Saudi Arabia's richest in years to come, according to a new report from WealthInsight.

  • Here's the next stop now that US oil cracked $50 Wednesday, 22 Jul 2015 | 3:23 PM ET
    A worker prepares to lift drills by pulley to the main floor of Endeavor Energy Resources LP's Big Dog Drilling Rig 22 in the Permian basin outside of Midland, Texas.

    U.S. oil futures closed below the psychologically important $50 level—possibly signaling more declines to come and a retest of the March lows.

  • 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...