Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
* Russia's Novak, Dmitriev praise Saudi Energy Minister Falih
* OPEC sources expect no change in Saudi OPEC policy
* Saudi seen sticking to supply cuts if it wants Aramco IPO (Adds comments from OPEC, industry sources, further details) Lawler
VLADIVOSTOK, Russia/LONDON, Sept 4 (Reuters) - Leadership changes in Saudi Arabia's oil industry will have no effect on cooperation between Moscow and Riyadh, two top Russian officials said, indicating the shake-up won't derail a global pact to support oil prices by curbing output.
Separately, senior sources from OPEC and the oil industry said they expected Saudi Arabia to stick to its policy of restraining oil output as long as Riyadh wants to sell a stake in state oil firm Aramco.
Saudi Arabia this week named a replacement for Khalid al-Falih as Aramco chairman, and a few days earlier created a ministry for industry and mineral resources separate from the energy ministry, in a move that appears to diminish Falih's authority. He remains Saudi energy minister.
Russian Energy Minister Alexander Novak praised Falih and said the Organization of the Petroleum Exporting Countries would continue to coordinate output with non-OPEC producers.
"We will continue our international cooperation with our colleagues, with my friend Mr. Falih," Novak told reporters. He said he planned to visit Saudi Arabia to prepare for Russian President Vladimir Putin's trip there scheduled in October.
Ties between OPEC kingpin Saudi Arabia and non-OPEC Russia have developed since 2016 after the producer group and a number of non-member countries formed the so-called OPEC+ alliance.
Oil has risen 9% this year since a new OPEC+ supply pact took effect, despite concerns about slowing economic growth.
Kirill Dmitriev, head of the RDIF sovereign wealth fund and a key player in cooperation between Moscow and Riyadh, also praised work with Falih and said plans remained unchanged.
"Saudi Arabia is an absolutely key partner for us. Khalid al-Falih ... has played an absolutely key role in stabilising global oil markets," he said.
"We plan to make joint investments with Aramco in Russia ... Plans which we had remain."
RDIF has partnerships with Saudi Arabia's two sovereign wealth funds: the Public Investment Fund (PIF) and the Saudi Arabian General Investment Authority (SAGIA).
SUPPLY POLICY SEEN UNAFFECTED
Novak said on Wednesday that OPEC and non-OPEC countries would continue to coordinate on output.
"This is very important for the market to maintain its stability," Novak said.
A senior source from OPEC said that while the Saudi shake-up had created some uncertainty, he expected Saudi Arabia to stay the course in the supply pact.
"It's not clear at the moment but I don't expect a change in policy," he said.
Aramco, the world's top oil-producing company, is preparing for an initial public offering of up to 5% by 2020-2021, which could be the world's largest IPO.
Saudi Arabia has gone further than called for by the OPEC+ deal in cutting supply, a move widely seen as designed to help support the value of Aramco by boosting oil prices.
Saudi officials say the kingdom's output policies are merely intended to balance the market and reduce high inventories.
With Saudi Arabia now restarting preparations for the share sale, a senior executive with a trading firm who has discussed the market with Saudi officials also doubted that its policy of supporting the market would change.
"If the IPO is on the agenda for 2020 or even earlier, they need the price," he said. (Reporting by Vladimir Soldatkin, Gabrielle Tétrault-Farber, Alex Lawler and Dmitry Zhdannikov; Writing by Gabrielle Tétrault-Farber, Katya Golubkova and Alex Lawler; Editing by Dale Hudson and Jason Neely)