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As tumbling U.S. oil prices bring a new round of pain for producers, OPEC appears to be far from blinking.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Stocks and commodities took a hit today. WTI closed under $50 today, but traders say it could go either way next week.
Sami Nawar, Gen Director Culture & Tourism, Jeddah Municipality, tells CNBC about the historical and economic significance of the hajj pilgrimage to Mecca.
CNBC explores whether efforts to diversify Saudi Arabia's economy will be enough to offset falling crude prices.
Saudi Arabia's Finance Minister Ibrahim Abdulaziz Al-Assaf comments on the state budget for 2015 and says the country has been prepared for the fall in oil prices.
Saudi Arabia's Finance Minister Ibrahim Abdulaziz Al-Assaf outlines current investments and plays down the call for the establishment of a sovereign wealth fund.
Saudi Arabia's Finance Minister Ibrahim Abdulaziz Al-Assaf says significant progress has been made in regards to women's treatment, but there is still a long way to go.
With oil's price collapse, we can now declare that OPEC's reign as king of the market is over.
Jim Rickards, chief global strategist at West Shore Funds, expects oil prices to trade between $50-60 for a year or two as Saudi Arabia attempts to put the U.S. shale frackers out of business.
Oilman Harold Hamm says the Saudi hard line on production has turned the Russian "ruble into rubble" while also squeezing U.S. producers.
The crash in crude prices has some governments taking a hard look at costly subsidies that have kept gas pump prices artificially low.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude slid again on yesterday's record build.
Miswin Mahesh, oil analyst at Barclays, says Saudi Arabia is being written off at the moment, however a shift in policies could change that.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Rig counts declined and Europe appears to be getting stronger. Nat gas and gold were up on the day, as well.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude finished up for the week as refinery strikes continued.
Have oil prices bottomed? As CNBC Explains, it's anybody's guess.
Miswin Mahesh, oil analyst at Barclays, says Saudi Arabia will not cut oil production, leading to weakness in the price during the first half of the year.
The rollercoaster ride in oil prices continued on Thursday, after the market tumbled on news that U.S. inventories were at a near-80 year high.
Ibrahim bin Abdulaziz Al-Assaf, finance minister of Saudi Arabia, discusses his country's relationship with the U.S., following rumors that Saudi royals funded the 9/11 attacks.
Saudi Arabia's Finance Minister, Ibrahim bin Abdulaziz Al-Assaf, says the country has buffers and reserves in place to deal with the low oil price.