Business News Saudi Arabia

  • LONDON, Jan 17- Oil traders seem increasingly convinced OPEC's prompt action in cutting production will be enough to offset the impact of rising shale production and slowing global growth. Saudi Arabia and its OPEC and non- OPEC allies have implemented substantial reductions in production and exports during December and the first part of January.

  • A file photo showing a Libyan oil worker from the Libyan National oil and gas company checks an oil pipelines at the Zawiya oil installation in Zawiya, Libya.

    OPEC slashed production in December, delivering a bullish signal to the market one month before the producer group officially began a fresh round of output cuts.

  • MOSCOW, Jan 17- Russian Energy Minister Alexander Novak plans to meet Saudi Energy Minister Khalid al-Falih at the World Economic Forum in Davos, Switzerland next week, Interfax news agency cited the Russian minister as saying on Thursday.

  • After Alberta cut 325,000 barrels per day starting this month, the discount on Canadian heavy oil compared to benchmark U.S. crude oil shrank to less than $7 per barrel from more than $40 in October, providing relief for producers. "As soon as we heard this curtailment was taking place, we shifted our capital to Saskatchewan from Alberta," said Grant Fagerheim, chief...

  • *Surging U.S. stocks may undermine OPEC efforts. NEW YORK, Jan 16- Oil prices edged lower on Wednesday after data showed growing U.S. refined product inventories and record crude production, which could undermine global efforts to support prices. Brent crude futures fell 44 cents, or 0.7 percent, to $60.20 a barrel by 11:03 a.m. EST.

  • *OPEC- led supply cuts have supported crude prices. *Surging U.S. stocks may undermine OPEC efforts. The forecast could undermine oil markets which have been receiving support from supply cuts by the Organization of the Petroleum Exporting Countries, including top exporter Saudi Arabia, and major non- OPEC producer Russia.

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  • *OPEC- led supply cuts support crude prices. *Surging U.S. stocks may undermine OPEC efforts. LONDON, Jan 16- Oil prices steadied on Wednesday after climbing about 3 percent in the previous session on expectations that OPEC- led production cuts will tighten supply and that possible Chinese stimulus might help the global economy.

  • *S.Korea' s Iran oil imports stay at zero for a fourth month. *Iran oil imports in 2018 fall 60.4 pct to 7.15 mln tonnes. *S.Korea to buy abt 2 mln bbls Iran condensate in Jan- source.

  • *China reports slump in import-export data. *OPEC- led supply cuts provide some support. NEW YORK, Jan 14- Oil prices fell more than 2 percent on Monday, taking a pause after a recent rally, pressured by data showing weakening imports and exports in China that raised new worries about a global economic slowdown hurting crude demand.

  • *China reports slump in import-export data. *OPEC- led supply cuts provide some support. NEW YORK, Jan 14- Oil prices fell about 1 percent on Monday, pressured by data showing weakening imports and exports in China that raised new worries about a global economic slowdown hurting crude demand.

  • *OPEC- led supply cuts provide some support. *Saudi energy minister says no need for early OPEC meeting. LONDON, Jan 14- Oil slipped to around $60 a barrel on Monday after data showed weakening imports and exports in China, the world's second-largest oil consumer, raising the prospect of a slowdown in fuel demand.

  • *U.S. talks with Doha to supply Germany with LNG- official. DUBAI/ DOHA, Jan 14- The United States wants Qatar, the world's top liquefied natural gas supplier, to challenge Russia's gas dominance in Europe, a U.S. administration official said on Monday. Energy Secretary Dan Brouillette told Reuters that the United States is talking with Doha about supplying Europe...

  • *OPEC- led supply cuts provide some support. *Saudi energy minister says no need for early OPEC meeting. LONDON, Jan 14- Oil slipped to around $60 a barrel on Monday after data showed weakening imports and exports in China, the world's second-largest oil consumer, raising the prospect of a slowdown in fuel demand.

  • Saudi energy minister expresses concern that geopolitics will affect oil market

    CNBC's Hadley Gamble reports from Abu Dhabi on the reaction from energy ministers to Secretary of State Mike Pompeo's trip to the Middle East and his meeting with the Crown Prince Mohammed Bin Salman.

  • ABU DHABI, Jan 14- Saudi Arabia's Energy Minister Khalid al-Falih said that oil demand remains strong and that he sees no impact from U.S.- China trade tensions. "The global economy is strong enough, I'm not too concerned. If a slowdown happens, it will be mild, shallow and short, "he told reporters in Abu Dhabi on Monday.

  • *OPEC- led supply cuts provide some support. *Saudi energy minister says no need for early OPEC meeting. LONDON, Jan 14- Oil slipped to around $60 a barrel on Monday after data showed weakening imports and exports in China, the world's second-largest oil consumer, raising the prospect of a slowdown in fuel demand.

  • DOHA, Jan 13- Qatar Investment Authority aims to raise investments in the United States to $45 billion in the next two years as it rebalances its portfolio of assets away from Europe, its chief executive said on Sunday. Mahmoud's predecessor Sheikh Abdullah bin Mohamed bin Saud al-Thani in 2015 committed to invest $45 billion in the U.S. over a five-year period.

  • Khalid Al-Falih, Saudi Arabia's energy and industry minister, arrives ahead of the 174th Organization Of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, on Friday, June 22, 2018.

    OPEC members, along with several non-OPEC countries like Russia, in December agreed on output cuts totaling 1.2 million barrels per day.

  • Outside the United Nations office buildings in Bangkok. The UN said on Jan. 9, 2019 that it was investigating the case of 18--year-old Saudi woman Rahaf Mohammed al-Qunun seeking asylum, after her plea against deportation.

    An 18-year-old Saudi woman who said she was abused by her family and feared for her life if deported back home left Thailand on Friday night for Canada, which has granted her asylum.