:: Saudi Arabia’s Crown Prince Mohammed bin Salman received a phone call on Wednesday from the US Secretary of Defense during which they discussed ongoing arrangements to send US troops of a
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:: Saudi Arabia’s Minister of Energy confirmed on Wednesday the restoration of production capacity, affirming the Kingdom’s position as a reliable energy supplier in the global market. The energy minister, Prince Abdulaziz
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:: Egypt’s foreign ministry spokesman, Ahmed Hafez, slammed Turkish President Recep Tayyip Erdogan’s statements at the UN General Assembly this week where he urged the UN to “handle the suspicious death of
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:: Saudi Arabia’s Crown Prince Mohammed bin Salman said on Wednesday that the attacks on Saudi Aramco oil facilities are a test of international resolve in the face of destructive acts that
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:: Saudi Arabia’s Crown Prince Mohammed bin Salman said the recent attacks on Saudi Aramco facilities represented a “dangerous escalation not only toward the Kingdom but also the entire world.” The Crown
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:: The non-oil sector of the United Arab Emirates economy is expected to grow 3.1 percent this year, accelerating to 3.5 percent next year, central bank governor Mubarak Rashid al-Mansouri said on Sunday. Speaking to a meeting of Arab central
By : Wael Mahdi :: The outlook for the oil market over the coming few years is scary — not because there will be no demand for oil, but because it is becoming extremely hard to predict developments. Andy Hall,
:: Oil prices fell on Tuesday as global oversupply encouraged several banks to cut their forecasts for crude for this year and 2018. Brent crude was down 50 cents at $46.38 a barrel in mid-morning trade on Tuesday. US crude
:: Saudi Basic Industries Corporation (SABIC) is “very positive” about 2017 despite global challenges, its chief executive said on Tuesday. Yousef Abdullah al-Benyan told reporters in Riyadh the firm was monitoring the global situation, but it was difficult to predict
Saudi Arabia’s oil giant expects oil prices to climb toward the end of the year, saying the current price of around $30 a barrel is not sustainable. Saudi Aramco’s CEO Amin Nasser, speaking Tuesday at the 9th Global Competitiveness Forum,
By : Abdullah Hamidaddin The Chinese president’s visit to Saudi Arabia and the region can be seen as a response to rising tensions between Riyadh and Tehran. Beijing has important relations with both countries, and cannot afford to lose either.
By : Maria Dubovikova A sanctions-free Iran marks a new beginning for the country as well as the international community. Europe and the United States lifted sanctions against the country on Saturday following the International Atomic Energy Agency (IAEA) announcement
Oil prices fell on Wednesday after a rise in weekly US crude inventories fed into bearish sentiment about the deepening global supply glut that has brought oil prices close to 12-year lows. Brent crude, the global benchmark, was down 37
Oil prices jumped about $1 a barrel on Tuesday, as prospects of colder weather in coming weeks inspired buying a day after prices slid 3 percent, but slowing global demand and abundant supplies from OPEC members kept energy markets bearish.
Crude oil futures tumbled to their lowest in nearly seven years on Monday after OPEC failed to address a growing supply glut, while a stronger dollar made it more expensive to hold crude positions. Brent and US crude futures fell
Oil prices have turned higher in Asia on Wednesday as diplomats tried to ease geopolitical tensions sparked by Turkey’s shooting down of a Russian fighter jet on the Syrian border. But the global crude supply glut capped gains ahead of
Kuwait’s ruler called on Tuesday for officials in the oil-rich state to seek alternative revenue sources and reduce public expenditure after state income dropped 60 percent due to a sharp slide in crude prices. Addressing parliament at the beginning of
The United Arab Emirates’ oil minister said on Monday that he expected an upward correction of oil prices next year. “We are expecting an upward correction – 2016 will be a year of correction, to what level we will see,”
Iranian President Hassan Rowhani has blamed unnamed countries of plotting to bring down crude prices and said the recent slump in oil prices was not based solely on economic factors. With oil prices down more than 40 percent since June,
Saudi Crown Prince Salman bin Abdulaziz said Saturday that the kingdom would maintain its “balanced” oil policy and urged world leaders to work toward resolving the growing crises in the Middle East. “The kingdom is continuing with its balanced policy
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