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  • DUBAI, June 7- Investors gave a lukewarm response to Saudi Arabia's economic reform plan on Tuesday as they worried that steps to rein in a $100 billion state budget deficit could cause a deep slowdown in the kingdom. The National Transformation Plan contains hundreds of policies and targets that, if realised, would change the way Saudi Arabia does business.

  • At issue is whether Goldman violated the law when it didn't inform regulators about a potentially suspicious transaction involving 1MDB, the WSJ reports.

  • JEDDAH, Saudi Arabia, June 6- Saudi Arabia plans to more than triple the government's non-oil revenues and clamp down on public-sector salaries over the next five years, ministers said on Monday as they described reforms designed to reduce the economy's dependence on oil and build a sustainable future. The National Transformation Plan aims to boost non-oil...

  • JEDDAH, Saudi Arabia, June 6- Saudi Arabia plans to more than triple the government's non-oil revenues and clamp down on public-sector salaries over the next five years, ministers said on Monday as they described reforms designed to reduce the economy's dependence on oil and build a sustainable future. The National Transformation Plan aims to boost non-oil...

  • JEDDAH, Saudi Arabia, June 6- Saudi Arabia plans to more than triple the government's non-oil revenues and clamp down on public sector salaries over the next five years, ministers said on Monday as they described reforms designed to reduce the economy's dependence on oil. The National Transformation Plan aims to boost the state's non-oil revenue to 530 billion...

  • Skyscrapers stand in the King Abdullah financial district in Riyadh, Saudi Arabia, on Saturday, Jan. 9, 2016.

    Saudi Arabia's National Transformation Plan will be put before the cabinet for approval on Monday, a senior Saudi source told Reuters.

  • OPEC headquarters in Vienna, Austria.

    OPEC is a dysfunctional organization that has outlived its usefulness, Oppenheimer senior energy analyst Fadel Gheit said Thursday.

  • *Russia not OPEC member but regularly holds consultations. MOSCOW, June 3- Russia, the world's top oil producer, plans to continue its consultations with OPEC and may hold a meeting with the group this autumn, Energy Minister Alexander Novak told reporters. We will for sure do a related meeting this year, "Novak said, referring to consultations on the market...

  • *In his first OPEC meeting, Falih pledges "no shocks". *Saudi energy minister says OPEC has role in balancing markets. Intense diplomacy by the soft-spoken Falih at his first OPEC meeting- with his speech peppered by words such as "gentle approach," "no shocks" and "consensus"- has persuaded Alekperov that OPEC is more alive than dead.

  • OPEC headquarters in Vienna, Austria.

    OPEC ministers ended their meeting Thursday without a production agreement, but with plenty of talk of unity, something that could fade fast if oil prices crumble again.

  • Saudi oil minister: Market is in good shape

    CNBC's Hadley Gamble reports from Vienna following an OPEC meeting and speaks to Saudi arabia's oil minister Khalid al-Falih about the oil market.

  • Oil

    University of California, Davis' executive director of energy and sustainability, Amy Jaffe, gives her take on the oil market after the latest OPEC meeting.

  • *Brent closes above $50 a barrel for first time in 7 months. *OPEC meeting diluted by no output cap; Saudis pledge no ramp up. NEW YORK, June 2- Oil prices edged higher on Thursday, with Brent settling above $50 a barrel the first time in seven months, after the latest drawdown in U.S. crude stockpiles offset OPEC's failure to set a ceiling for its output.

  • *No output cap by OPEC; Saudis pledge no oversupplies either. NEW YORK, June 2- Oil prices rose on Thursday, with Brent returning to above $50 a barrel, after data showing a weekly drawdown in U.S. crude stockpiles offset OPEC's decision not to set a ceiling for its production. "It was more a definitive day for the EIA than OPEC," said Carl Larry, director of business...

  • Al-Falih: The market is in good shape

    CNBC's Brian Sullivan reports from OPEC headquarters in Vienna on the cartel's meeting and Helima Croft, RBC Capital Markets, weighs in.

  • RAS AL-KHAIR, Saudi Arabia, June 2- At a sprawling desert complex on Saudi Arabia's northeastern Gulf coast, refineries, smelters and casting machines transform dull pink rocks into silver aluminum bars, a symbol of the kingdom's attempt to diversify its economy. And in coming years, the success of Saudi Arabia's efforts to build an economy that does not rely on...

  • DUBAI/ RIYADH, June 2- Saudi Arabia has signalled it is adopting new strategies to invest its petrodollars- more aggressive, more high-profile and more closely linked to its economic development plans- with the $3.5 billion purchase of a stake in U.S. ride-hailing firm Uber. The deal, announced on Wednesday, makes the Saudi state's Public Investment Fund a player...

  • No agreement on production cuts after OPEC meeting

    CNBC’s Brian Sullivan reports the latest on the OPEC meeting and how leaders failed to agree on a production ceiling.

  • LONDON, June 2- Oil prices headed for their third week of gains on Thursday, holding steady ahead of an OPEC meeting that analysts said was not expected to result in restrictions on crude output. The Organization of the Petroleum Exporting Countries is set for another showdown between rivals Saudi Arabia and Iran when it meets on Thursday in Vienna, with Riyadh...

  • LONDON, June 2- Oil prices held broadly steady on Thursday, set for their third week of gains, ahead of an OPEC meeting that analysts said was not expected to result in restrictions on crude output. The Organization of the Petroleum Exporting Countries is set for another showdown between rivals Saudi Arabia and Iran when it meets on Thursday in Vienna, with Riyadh...