Russia is ready to meet with members of the Organization of Petroleum Exporting Countries to discuss the situation facing global oil markets, according to the country's oil minister.» Read More
Officials say that trading on the Egypt stock exchange will resume on Sunday and will take measures to prevent a huge selloff as soon as the bourse reopens. It's unrealistic to think that those steps will prevent panic-selling, Yousef Gamal El-Din writes.
Oil prices are likely to extend last week's gains despite assurances from de facto OPEC leader Saudi Arabia that it's willing and able to meet any supply shortfalls from Libya, according to the latest CNBC market sentiment survey.
Oil prices for the most active Brent and WTI crude contracts are still up over 10 percent since last Friday — and there's no sign that Mideast turmoil will cease over the weekend. So oil traders are bracing for more — perhaps much more — upside risk.
Oil prices, now topping $100 a barrel, could hit $120, energy financier T. Boone Pickens, chairman and CEO of BP Capital, and an advocate of replacing oil with natural gas in some applications, told CNBC Friday.
Oil prices have seen wild moves in recent days amid increasing violence in the Mideast, but the options market is telling us the roller-coaster ride may be over.
Forget Twitter and Facebook. Forget outspoken Google spacer Exec Wael Ghonim. If you want to know who should get credit for the sudden surge towards democracy in the Middle East, send a ‘Thank You’ note to Ben Bernanke.
If Saudi raised oil production to 9 million barrels per day, then they've chosen a good time to do it.
Good King Abdullah of Saudi Arabia figures that $36 billion will buy off any potential unrest in his realm of Saudi Arabia. That's an expensive piece of cake he's dishing up.
As anger spreads throughout the Arab world, retired Gen. Wesley Clark said Saudi Arabia will be the last country to see an uprising.
Saudi Arabia is in “active talks” with European oil companies to meet the production shortfall left by Libya, the clearest indication to date that the leader of the Opec oil cartel is about to boost supplies to stop further rises in the oil price.
World leaders condemned Muammar Gaddafi's bloody crackdown on a revolt that has split Libya, but took little action to halt the bloodshed from the latest upheaval reshaping the Arab world.
Oil traders fearing Saudi spillover should have been with me tonight trying to get back to my hotel after dinner in Riyadh.
Muammer Gaddafi’s family has built up vast business interests in sectors ranging from oil to hotels during his 41-year rule, giving it a hold over large swathes of Libya’s economy, according to US diplomatic cables and governance groups, reports the Financial Times.
As oil prices race toward $100 a barrel, the expectations that gasoline prices will catch fire are running high.
Saudi Arabia will not allow any supply disruptions from the Middle East to impact global supplies of oil, the oil-rich country's deputy oil minister told CNBC Tuesday.
With the recent turmoil across North Africa and the Gulf, investors are now becoming increasingly concerned that the ‘political contagion,’ as the wave of upheaval has come to be known, may flow over into Saudi Arabia as well.
A little over nine years ago, one of the biggest stories in international affairs was Thomas E. Ricks’ Page One story in the Washington Post a briefing given to a Pentagon advisory group that characterized the Saudi ruling family as enemies of the United States.
The Egyptian stock market will likely tumble another 10 percent before investors put some cash in and try to stage a rally, after which the benchmark index could regain a third of its losses, according to historical trends, Robin Griffiths, technical strategist at Cazenove Capital, told CNBC Monday.
Saudi billionaire Prince Alwaleed bin Talal says he has invested $500 million in General Motors, the U.S. auto giant whose shares returned to trading last week after its bankruptcy and bailout by Washington.
Prince Alwaleed bin Talal al Saud, the chairman of Kingdom Holding Company, told CNBC Wednesday that he’s against building a mosque near the ground zero site in New York City.