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Business Saudi Arabia


  • UNITED NATIONS, Oct 1- Syria accused the United States, France, Qatar, Saudi Arabia and Turkey on Monday of hijacking the country's 18- month conflict between government forces and pro-democracy rebel groups by supporting "terrorism" with arms, money and foreign fighters.

  • Oil's Recent Slide: Instability, Oversupply—and Iran? Thursday, 20 Sep 2012 | 5:52 PM ET

    The Saudis have moved to pump more oil, the US sits on increased crude supplies, the market has gotten edgy over Eurozone economic instability, and FedEx cut it profit outlook — all of which drove the price of oil lower for three straight days to its lowest level in over a month.

  • Commodities Next Week: Iran Sanctions Deadline Sunday

    CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks ahead to where oil and precious metals are likely headed next week.

  • Arab Uprisings Threaten Peace Thursday, 13 Sep 2012 | 6:19 AM ET
    Arab Uprisings Threaten Peace

    Discussing growing tensions in the Middle East, and the political and economic implications of the recent uprisings, with Karim Sadjadpour, Carnegie Endowment Iran analyst.

  • oil_barrells_ap_200.jpg

    Saudi Arabia, the world's central bank for oil, could become a net oil importer by 2030 according to a new study by Citigroup, the international financial conglomerate.

  • Real estate developer Donald Trump blames President Obama for the rising price of oil, warning, "this country can never, ever recover" if oil prices continue to go up.

  • Saudi Struggle vs. Iran Looks Likely to Get Worse Thursday, 23 Aug 2012 | 3:58 PM ET
    Main roads in Riyadh are decorated with national flags and portraits of King Abdullah bin Abdul Aziz of Saudi Arabia on February 21, 2011 amid preparations to welcome the Saudi royal back as he is expected to return home later this week after convalescing in Morocco from operations in New York, according to a source close to the oil-rich Gulf monarchy. AFP PHOTO/FAYEZ NURELDINE (Photo credit should read FAYEZ NURELDINE/AFP/Getty Images)

    Saudi Arabia has gone on the offensive against Iran to protect its interests. Its involvement in Syria is the first battle in what is going to be a long conflict that will know no frontiers nor limits.

  • Oil tanker

    Of  all the major oil-producing countries in the world, only four are showing a long-term decline in production capacity by 2020.  Factors like  the recent showdown with Iran over its nuclear program are more influential, according to a Harvard University report.

  • Heading Off Threats to Global Energy Security Wednesday, 20 Jun 2012 | 8:48 AM ET
    Locals ride a canoe past oil instalations belonging to the Mobil oil company in Bonny Island, Nigeria, Thursday, Aug. 17, 2006. Militant groups using kidnappings and sabotage attacks to press their demands for a share of the region's oil wealth, which they accuse the central government of stealing, have made southern Nigeria a volatile place. (AP Photo/George Osodi)

    Michael Bagley, president of corporate intelligence firm Jellyfish Operations, and security expert Jennifer Giroux discuss how companies can plan and react in hostile environments.

  • Istanbul's Arasta Bazaar

    Though Turkey was one of several countries to receive a temporary waiver from U.S. sanctions, it is looking to Saudi Arabia and Libya for crude oil, as well as a number of other energy sources.

  • Al-Qaeda Only Partly to Blame for Yemen Oil Crisis Monday, 18 Jun 2012 | 9:42 AM ET
    A flame rises from a tower at Yemen's second liquid natural gas plant in the coastal area of Balhaf.

    Disgruntled tribesman seeking more economic development are also responsible for violence against the oil industry.

  • The death of Saudi Arabia’s Crown Prince Nayef bin Abdulaziz - the half-brother of King Abdullah and heir to the throne -  comes less than eight months after the death of Sultan bin Abdulaziz, the previous Crown Prince, and again brings to the fore the ambiguous issue of succession.

  • OPEC Keeps Oil Production Levels Unchanged Thursday, 14 Jun 2012 | 11:18 AM ET
    OPEC Keeps Oil Production Levels Unchanged

    CNBC's Kelly Evans reports OPEC leaders agree to keep its oil production ceiling unchanged.

  • Enough Oil Supply in the Short-Term Tuesday, 12 Jun 2012 | 6:40 PM ET
    Enough Oil Supply in the Short-Term

    Dominic Schnider, Head Commodity Research, UBS Wealth Management, UBS Wealth Management says there is enough oil supply in the short-term and that production actually needs to be cut by half a million barrels. But he expects oil prices to remain high at about $90.

  • Conflict, Uncertainty Could Delay OPEC Decision Tuesday, 12 Jun 2012 | 4:57 PM ET
    Al Naimi, Saudi Oil Minister

    A twenty-five percent plunge in oil prices might seem to make curbing the supply of crude a no-brainer for the world’s oil producers.  And yet it looks increasingly possible that the 161st ordinary meeting of OPEC in Vienna this week could end in a virtual stalemate

  • Saleri: Why Oil Will Keep Falling Tuesday, 12 Jun 2012 | 12:15 PM ET
    Saleri: Why Oil Will Keep Falling

    Nansen Saleri, president & CEO Quantum Reservoir Impact, says crude prices will stay between $80 to $120 a barrel.

  • Expect No Change to OPEC's Output Ceiling Monday, 11 Jun 2012 | 6:44 PM ET
    Expect No Change to OPEC's Output Ceiling

    Tom Essaye, President, Kinsale Trading says there will be no change to OPEC's output ceiling.

  • Solar Power Rises in the Mideast, North Africa Thursday, 7 Jun 2012 | 2:03 PM ET
    Sahara Desert

    A number of recent developments highlight the push for renewable energy in the MENA region, from Saudi Arabia’s ambitious solar plans to Qatar’s first-ever polysilicon plant and massive concentrated solar power plants across North Africa.

  • The World’s Biggest Oil Producers Wednesday, 25 Apr 2012 | 12:23 PM ET
    Given the pace of global growth, experts say crude oil prices are higher than they should be – largely the result of concern Iran might close the Strait of Hormuz in its showdown with the U.S. and E.U. over the expansion of its nuclear program.Like Iran, some of the world’s other biggest oil producers can be subject to unpredictable and unstable political events, causing price shocks. Such was the case during the 2011 civil unrest in Libya. At the time, Libya was the 17th largest oil-producing c

    Big movements in the price of oil can have significant effects on the economy, and countries with the most oil within their borders are set to benefit, as demand for crude continues to rise.

  • Saudi Arabia Builds Up Crude Inventories: Goldman Wednesday, 25 Apr 2012 | 7:10 AM ET

    Saudi Arabia appears to have been building crude oil inventories in lower domestic demand months in a scramble to offset the risks of “limited” effective spare production capacity, Goldman Sachs said on Wednesday.