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Oil's plunging as expectations for any OPEC deal begin to sputter
Oil's falling as expectations for any sort of OPEC deal are beginning to sputter after comments made by Saudi Arabia and Iran.Prices for Brent crude oil, the international benchmark, are down by 3.5%...
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This analyst says OPEC must cut production if it wants to rebalance the crude...
Yet again, OPEC members have failed to reach agreement to either freeze or reduce production levels.It’s an all too familiar scenario that investors have now come to expect, and one that will likely...
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Saudi Arabia is softening its stance on oil
(Reuters) - OPEC might still agree an oil output-limiting deal later this year after failing to do so in Algeria this week as the economic problems of its de-facto leader Saudi Arabia force Riyadh to...
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Saudi stocks tanked after the kingdom slashed worker pay
Saudi Arabia announced several fiscal consolidation measures on Tuesdayin an effort to help reduce the kingdom's record budget deficit as it contends with lower-for-longer oil prices and costly...
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Senate rejects Obama's veto of Saudi September 11 bill 91 to one
The US Senate on Wednesday overwhelmingly rejected President Barack Obama's veto of legislation allowing relatives of the victims of the Sept. 11 attacks to sue Saudi Arabia, paving the way for the...
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Congress' controversial 9/11 bill could have lasting consequences for the US
Congress voted on Wednesday to override President Barack Obama's veto of a bill that would allow the family members of September 11 victims to sue Saudi Arabia.Some of Obama's staunchest supporters in...
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Saudi Arabia U-turned on its unlimited oil policy and prices are jumping
Saudi Arabia, the world's biggest oil producer, is beginning to reverse a two-year policy of unlimited oil production, agreeing on an output cap with fellow members of the OPEC oil cartel.The price of...
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Saudi banks have to reschedule consumer loans because the government slashed...
(Reuters) - Saudi Arabia's central bank has asked local banks to reschedule consumer loans after the government cut bonuses and other financial perks for public sector workers, Okaz newspaper reported...
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This Saudi Arabian billionaire gets £400,000 every year from UK taxpayers
A Saudi Arabian billionaire is among those handed hundreds of thousands of pounds every year in farm subsidies at the expense of taxpayers.Khalid Abdullah al Saud, who owns the champion racehorse...
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President Obama says he 'didn't expect' Congress to override his veto on...
WASHINGTON (AP) — The White House saw it coming, but still it stung.When President Barack Obama was hit with the first veto override of his presidency on Wednesday, it landed as a clear reminder of his...
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OPEC just reached a surprising deal — here's what comes next
The late oil watcher Robert Mabro once quipped that OPEC should change its logo to a teabag "because it only works when in hot water."In light of recent events, that's turned out to be quite the...
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'Hypocrisy': Many in Arab world are furious about the new 9/11 victims bill
DUBAI, United Arab Emirates — A bill passed by Congress allowing the families of 9/11 victims to sue the Saudi government has prompted reactions of outrage and ridicule among some in the Arab...
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White House: Passage of 9/11 lawsuit bill is an 'abject embarrassment'
WASHINGTON (Reuters) - The White House said on Thursday that Congress's passage of a law allowing Sept. 11-related suits against Saudi Arabia was "an abject embarrassment" and that the administration...
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An 'erosion of sovereign immunity': Saudi foreign ministry condemns passage...
Saudi Arabia's foreign ministry condemned the passage of a U.S. law that would allow families of victims of the Sept. 11, 2001 attacks to sue the kingdom for damages, calling it a matter of "great...
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McConnell claimed Obama did not warn of the 'potential consequences' of 9/11...
Senate Majority Leader Mitch McConnell on Thursday condemned Congress' decision to override President Barack Obama's veto of a bill that will allow 9/11 victims' families to sue Saudi Arabia for any...
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The US's relationship with Saudi Arabia is longstanding — and totally outdated
Like other longstanding American relationships in the Middle East, the ties between Washington and Riyadh have nothing to do with human rights or democracy. The alliance rests mostly on two key...
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Witnesses: Saudi Arabia fired rockets on Yemeni civilians at a wake, killing...
SANAA (Reuters) - Saudi-led coalition aircraft fired rockets at mourners for the father of the interior minister in the Houthi-dominated Yemeni government on Saturday, causing many casualties,...
View ArticleSaudi Arabia is using a new calender to lower wages
Saudi Arabia has announced that salaries for government employees will no longer be calculated according to the Islamic calendar, but according to the Western Gregorian calendar.The change is expected...
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Yemen: Over 140 killed in Saudi airstrike on packed funeral hall
A Saudi-led coalition airstrike hit a funeral hall packed with thousands of mourners in Yemen's capital Saturday, killing over 140 people and wounding more than 525 in one of the deadliest single...
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SAUDI OIL MINISTER: OPEC should be very careful not to ‘shock the market'
ISTANBUL (Reuters) - Saudi Arabia's Energy Minister Khalid al-Falih said on Monday that OPEC should not crimp oil supply too tightly and said he was optimistic a global production deal to limit...
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