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Oil dives below $50 on report Russia is against a production cut
West Texas Intermediate crude oil is back below the $50 per barrel level following an Interfax report stating the Russian envoy is against production cuts.The report comes just two days after Russia...
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Wall Street's top oil watcher explains what's happening in Saudi Arabia,...
Helima Croft, head of commodity strategy at RBC Capital Markets, spends her days keeping tabs on geopolitics and oil.Croft recently spoke with Business Insider about OPEC's agreement to limit...
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Major changes are brewing in Saudi Arabia
Major changes are brewing in Saudi Arabia, and there is no way to stop them if the kingdom’s economy is to survive the oil price rout. This is what has become painfully clear after last week, Deputy...
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4 Iranian arms shipments to Yemen have reportedly been stopped since April 2015
Dubai (AFP) - Warships from the US Navy and allied nations have intercepted four weapons shipments from Iran to war-ravaged Yemen since April 2015, a US admiral said Thursday.Yemen has been rocked by...
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RBC: Saudi Arabia must lead by example if OPEC's production cut is to stick
Alongside the US election, the other big event for markets next month will be OPEC’s meeting, held on November 30.After agreeing tentatively to a production cut in next year in late September —...
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Saudi Aramco’s chief expects oil prices to pick up in 2017
Crude oil prices will rise in the first half of next year as the commodity’s fundamentals return to balance, Aramco’s chief executive, Amin Nasser, said. Without providing details about what he was...
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Saudis are threatening to raise oil output again, after renewed clashes with...
DUBAI/LONDON (Reuters) - Old disputes between Saudi Arabia and rival Iran resurfaced at a meeting of OPEC experts last week, with Riyadh threatening to raise oil output steeply to bring prices down if...
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Britain's former business secretary said the Ministry of Defence misled him...
London (AFP) - A former British business minister said Saturday he was seriously misled by the Ministry of Defence over a missiles deal with Saudi Arabia, which is spearheading airstrikes in...
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Saudi billionaire Prince Alwaleed bin Talal has put aside his bitter clash...
DUBAI (Reuters) - Saudi business magnate Prince Alwaleed bin Talal on Thursday put aside his bitter clash with Donald Trump and embraced the Republican U.S. president-elect, saying he was heartened by...
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Gulf executives upset over Trump's comments on Muslims want to do business...
DUBAI, Nov 11 (Reuters) - Gulf executives who were upset by Donald Trump's campaign trail comments about Muslims took a conciliatory tone following his election victory and said they were open for...
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How Saudi Arabia almost sunk Russia’s multibillion dollar oil deal with India
A multi-billion-dollar Russian deal to buy Indian refiner Essar was nearly sunk at the eleventh hour by a rival bid from SaudiArabia as the two oil superpowers vie for supremacy across the world.The...
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Saudi Arabia has a message for Trump on oil
President-elect Donald Trump jeopardizes the global economy through his promises to block Middle East oil imports for the purpose of creating an energy independent United States, according to...
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Saudi Arabia might spill the beans on the world’s biggest oil secret
One of the oil world’s longest and best kept secrets may finally be revealed. Saudi Arabia is preparing to unveil how much oil it holds, a closely guarded state secret that has been kept quiet for...
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Saudi Arabia is trying to build the Amazon of the Middle East
Saudi Arabia’s Public Investment Fund emerged on Sunday as the anchor investor in Noon, a soon-to-launch online retailer that aims to replicate from a Middle Eastern base the success of e-commerce...
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Where all 14 OPEC members stand ahead of November's crucial meeting (USO, OIL)
Two years ago, oil prices plummeted after OPEC voted to not cut production.Fast forward to 2016, and it looks like the cartel could be gearing up for a production cut.As members prep themselves for the...
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What Trump's 'energy independent' US would mean for the rest of the world
President-elect Donald Trump has a “vision” for an “America first energy plan”.This includes developing new oil fields in the US, creating “at least half a million new jobs” in energy, and promoting...
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Oil is getting smoked after Iran said it won't take part in a production cut
The price of oil is crashing on Tuesday after Iran said that it won't participate in any upcoming cut to production.Major oil producers will meet in the Austrian capital, Vienna, to try to agree on the...
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An outspoken billionaire Saudi prince has called for an 'urgent' end to the...
Riyadh (AFP) - An outspoken billionaire Saudi prince has called for an "urgent" end to his country's ban on women driving."Stop the debate: Time for women to drive," Prince Alwaleed bin Talal said on...
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The OPEC deal might not be a game-changer for the Saudis
OPEC finally agreed to cut output during its meeting in Vienna on Wednesday.This marks the cartel's first cut since 2008 and reverses its two-year strategy of pumping as much oil as desired.The cut is...
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Saudi Arabia has been hit by a 'digital bomb' — possibly from Iran
Saudi Arabia has suffered a series of "destructive" cyber attacks over the past few weeks, according to a Bloomberg News report.Saudi Arabia confirmed to Bloomberg that several government agencies have...
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