Two things will change the dynamics for oil prices, explains John Hofmeister, former Shell Oil USA President.» Read More
The "Worldwide Exchange" crew discusses the morning's top attention-grabbing headlines, including China adopting supply side structural reforms and economic challenges ahead for Saudi Arabia as sanctions are lifted in Iran.
DUBAI, Jan 27- Bourses in Saudi Arabia and Egypt rose in early trade on Wednesday as investors, encouraged by signs that Brent crude may settle above $30 a barrel, moved back into a market that has been hit hard by weak oil prices this year. Many traders and fund managers believe that if Brent trades above $30- a level investors are keeping a close eye on- then the...
Saudi Arabia's late King Abdullah paid some of the money out of his private funds, the BBC reported.
Malaysia's attorney general revealed that Saudi Arabia's royal family gave Prime Minister Najib Razak a $681 million gift.
The country revealed plans to move into industries including information technology, health care and tourism.
DUBAI, Jan 26- Bourses in Saudi Arabia and Egypt fell in early trade on Tuesday as investors cashed out following a resumption in declines of global stocks and worries over further weakness in oil markets. Brent broke below $30 a barrel in Asian trade, as fresh worries about oversupply from top producers Saudi Arabia and Iraq spooked the market.
Saudi Arabia outlined ambitious plans to move into non-oil-related industries ranging from information technology to health care and tourism.
An Iranian oil tanker set sail for South Korea last week, heralding a new period of uncertainty for world crude prices.
*Riyadh investment conference draws officials, businessmen. RIYADH, Jan 25- Saudi Arabia outlined ambitious plans on Monday to move into industries ranging from information technology to health care and tourism, as it sought to convince international investors it can cope with an era of cheap oil. A meeting and presentation at a luxury Riyadh hotel was held...
RIYADH, Jan 25- Growth in Saudi Arabia's consumer spending is slowing as low oil prices hit households' disposable income and geopolitical tensions make shoppers more cautious, the chairman of one of the kingdom's top retailing chains said. The slide in the oil price from over $100 a barrel in mid-2014 to just over $30 has forced Saudi Arabia, the world's biggest...
DUBAI, Jan 25- Saudi Arabia's bourse slid in early trade on Monday, erasing some of the previous session's rebound as day traders booked quick profits and long-term investors awaited more market stability. Riyadh's index dropped 0.8 percent. "The trend remains bearish, trading below the 14- day simple moving average," said Shiv Prakash, senior research analyst at...
China is deepening engagements with Iran after western sanctions against the country were lifted but the closer ties risk infuriating Saudi.
Richard Mallinson, geopolitical analyst at Energy Aspects, says the big questions are how much oil will come out of Iran and how quickly it enters the market.
Extreme tensions with Saudi Arabia could potentially derail Iran's progress, according to Jean-Francois Seznec, non-resident senior fellow at the Atlantic Council.
Chinese foreign policy in the Middle East is titled towards Iran to counter Saudi Arabia's ties with the U.S., explains James Dorsey, senior fellow at RSIS.
*Low oil prices call traditional strategy into question. RIYADH, Jan 24- Saudi Arabia aims to at least double annual inflows of foreign direct investment over the next 10 years by focusing on new sectors such as mining, health care and information technology, the head of its investment agency said on Sunday. The plan outlined by Abdullatif al-Othman, governor of...
The election is likely to exacerbate the credit crunch hitting the oil industry, says oil consultant Mark Harrington.
Majid Jafar, CEO of Crescent Petroleum, tells CNBC's Hadley Gamble that OPEC is not as relevant as it used to be.
The oil price slump is hitting home but there might be some positives amid the bad news, analysts reckon.
Saudi Arabia expects the market to recover in 2016 even as the country continues to keep production high, reports the Financial Times.