Business Saudi Arabia

  • Investors should start brushing up on astrophysics to understand why the world's economy may be approaching a cosmic conclusion, says Stephen Scott.

  • LONDON, Sept 23- Oil prices jumped on Friday after sources told Reuters Saudi Arabia could reduce its crude production should regional foe Iran cap its own output this year. The Saudi offer, ahead of next week's meeting of OPEC ministers trying to staunch oil price losses, has yet to be accepted by Tehran, three sources familiar with the discussions told Reuters.

  • An Indian foreign 'guest worker' walks on a ramp in the technical zone of the gas and petrol separation at the Aramco (Saudi national oil company) offshore oil rig 'Marjan 2' in the Persian Gulf.

    Saudi Arabia has offered to lower its own oil production if Iran agrees to cap its output this year.

  • Saudi Arabia offers to cut oil output on one condition

    The oil-rich kingdom said it would lower its own production if rival Iran agrees to cap its output this year.

  • DUBAI/ LONDON, Sept 23- Saudi Arabia has offered to reduce oil production if rival Iran agrees to cap its own output this year, in a major compromise ahead of talks in Algeria next week, three sources familiar with the discussions told Reuters. Riyadh is ready to cut output to levels seen early this year in exchange for Iran freezing production at the current level,...

  • DUBAI/ LONDON, Sept 23- Saudi Arabia has offered to lower its own oil production if rival Iran agrees to cap its output this year, in a major compromise ahead of talks in Algeria next week, three sources familiar with the discussions told Reuters. Riyadh is ready to cut output to lower levels seen early this year in exchange for Iran freezing production at the current...

  • John Stumpf, chairman and CEO of the Wells Fargo & Company, testifies before the Senate Banking, Housing and Urban Affairs Committee September 20, 2016 in Washington.

    The Wells Fargo scandal is certainly not the most egregious example of corporate misconduct we have seen in recent years, says Prof. Priyank Gandhi

  • Vehicle light trails pass the Kingdom Tower on King Fahad Road in Riyadh, Saudi Arabia.

    Frontier market countries are looking to tap the international bond markets as policymakers aim to boost finances in the face of low oil prices.

  • DUBAI, United Arab Emirates— A businessman accused of stealing $1.5 billion while working in the United Arab Emirates could face extradition to the Gulf nation after being detained in neighboring Saudi Arabia. Khater Massaad at one point ran the sovereign wealth fund of the small Emirati sheikhdom of Ras al-Khaimah and had ties to the man who is now the...

  • RIYADH, Saudi Arabia— State-owned Saudi Aramco, the world's largest oil production company, says eight of its workers have been injured in a fire that broke out at one of its oil terminals. The company says it successfully responded to the fire at its facility in the eastern city of Ras Tanura on Tuesday morning, adding that its oil and gas operations were not...

  • A customer prepares to pump gasoline into her vehicle at a Chevron gas station in San Rafael, California.

    Drivers may see the cheapest average fall gasoline prices since the year President Barack Obama was first elected.

  • Janet Yellen

    A Fed rate hike in September is looking more likely and the markets will see red, says John Kilduff.

  • $45-$55 the new range for oil: Analyst

    Sentiment in the oil market remains bearish because OPEC production continues to be at record high, says Amrita Sen, chief oil analyst at Energy Aspects.

  • People pass by a beggar in St. Petersburg, Russia.

    Donald Trump likes to praise the Russian leader's strength, but that strength hasn't done much that's good for Russia's economy.

  • House pases bill allowing 9/11 families to sue Saudis

    CNBC's Eamon Javers reports that the U.S. House of Representatives has unanimously voted to pass a bill making it easier for 9/11 families to sue Saudi Arabia for damages.

  • Oil prices are surging after storms forced the U.S. industry to tap inventories at a record rate but the move could be temporary.

  • *Qatar hit by profit-taking from rally on FTSE. DUBAI, Sept 8- Petrochemical shares supported Saudi Arabia's stock index on Thursday, benefiting from a bounce-back in crude oil prices, while Qatar underperformed as investors sold shares which had risen over the past month. "Investors are taking note of the slight improvement in oil prices and the fact that...

  • *Riyadh, Russia agree to cooperate in oil market. MOSCOW, Sept 8- Two new Caspian Sea oil fields are due by the end of this year to add significant volumes of crude to a world market already in glut, possibly depressing prices just as producers including Russia talk about reviving them. Faced with world oil prices languishing at around $50 per barrel, Saudi Arabia and...

  • DUBAI/ RIYADH, Sept 8- The Saudi Arabian government has ended talks aimed at saving construction giant Saudi Oger, which is now facing the prospect of a multi-billion-dollar debt restructuring to stave off collapse, according to sources aware of the matter. Oger, owned by the family of former Lebanese Prime Minister Saad Hariri, was one of two mega-contractors...

  • With Iran, Iraq, and Gulf nations Kuwait and the United Arab Emirates all producing at or almost at capacity, there is only a handful of states that have a significant gap between current production levels and what they can produce in theory. The word "theory" is key here, though, as those countries include Libya, Nigeria, Venezuela and Saudi Arabia.