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Saudi Arabia News
Kuwait launches foreign bond sale to finance deficit
Sun, Nov 06, 2016
Oil income contributed around 95 percent of public revenues in those years. During the past two years, oil has lost around 60 percent of its value.
Saudi Arabia, SoftBank aim to be world's No 1 tech investor with $100 billion fund
Sat, Oct 15, 2016
Saudi Arabia and Japan's SoftBank Group will create a technology investment fund that could grow as large as $100 billion, making it one of the world's largest private equity investors and a potential kingpin in the industry.
Rough times for Saudi retail as govt cuts bite
Wed, Oct 05, 2016
Diamonds glitter in the display cases of Saddam al-Yafae's shop, but the business has lost its sparkle.
Goldman says OPEC deal to add as much as $10 to H1 2017 oil prices
Thu, Sep 29, 2016
WTI was trading around $47 a barrel, after gaining more than 5 percent on Wednesday on OPEC`s planned output cut. [O/R]
Oil prices rise by 3% after surprise increase in US crude stocks draw
Wed, Sep 28, 2016
Crude futures fell about 3% on Tuesday after Iran rejected an offer from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supply.
Oil falls below $49 but set for weekly rise on OPEC hopes, US stocks
Fri, Sep 09, 2016
Oil prices edged lower on Friday but were still set for their first weekly gain in three weeks after Russia and Saudi Arabia agreed to work together to help rebalance the markets and after a surprisingly large drawdown in US crude stocks.
Saudi Arabia, Russia sign oil pact; may freeze output in future
Tue, Sep 06, 2016
Saudi Arabia and Russia agreed on Monday to cooperate in world oil markets, saying they will not act immediately but could limit output in the future, sending prices higher on hopes the two top oil producers would work together to tackle a global glut.
Indian Oil Corp raises oil import from Iran to 5 MT for FY17
Tue, Aug 30, 2016
Indian Oil Corporation (IOC), the nation's biggest oil firm, has raised crude oil import from Iran to four-fold and has cleared most of the past payments as sanctions against the Persian Gulf nation were eased.
Crude oil falls towards $49 per barrel on high output, strong dollar
Mon, Aug 29, 2016
Oil fell towards $49 a barrel on Monday, pressured by high output from Middle East organisation of OPEC members and as a stronger US dollar weighed on commodities.
Oil prices fall in early trade as Saudi Arabia dampens prospects of output freeze
Fri, Aug 26, 2016
Oil prices dipped in early trading on Friday after the Saudi Arabia energy minister tempered expectations of strong market intervention by producers during talks next month.
Oil prices fall on unexpected US crude stocks build; fears over China demand
Wed, Aug 24, 2016
Oil prices fell early on Wednesday as an unexpected build in US crude stocks weighed on markets, along with concerns that Chinese crude demand could falter as Beijing clamps down on alleged tax evasion in the oil industry.
Oil prices fall over 1% as analysts say market still oversupplied
Tue, Aug 23, 2016
Oil prices fell over 1% on Tuesday, with Goldman Sachs warning that August's price rally had been overdone and that a proposed oil production freeze at current near-record levels would not help rein in an oversupplied market.
Where does India stand globally on defence spends?
Mon, Aug 22, 2016
While the US' spends on defence is the maximum on defence reaching to $571 billion in 2014, but in terms of military expenditure as a percentage of the GDP it ranks fourth with 3.5%.
Oil prices fall on doubts producers can agree output restraint
Wed, Aug 17, 2016
Oil prices fell away from five-week highs early on Wednesday, as analysts doubted possible producer talks to rein in ballooning oversupply would be successful.
Oil rises on hopes of Russia to talk to producers on stabilising prices
Mon, Aug 15, 2016
On Monday, Russian Energy Minister Alexander Novak bolstered hopes that oil producing nations could take action to stabilise prices, telling a Saudi newspaper that his country was consulting with Saudi Arabia and other producers to achieve market stability.
Oil falls on oversupply as calls for producer talks draw scepticism
Wed, Aug 10, 2016
"Oil eased lower as another round of proposed production freeze talks by OPEC failed to excite investors," ANZ Bank said.
Oil prices fall for first time in three days after easing of concerns on Brexit
Tue, Jun 21, 2016
Brent crude futures' August front-month contract was down 31 cents at $50.34 a barrel.
Forces effecting crude oil price rise; What happens to India?
Thu, Jun 09, 2016
According to Finance Minister, Arun Jailtey, current price highs won't harm India much but higher rates will torment the economy resulting in inflationary pressure.
Saudi Arabia promises not to shock oil market as OPEC debates policy
Thu, Jun 02, 2016
Several OPEC sources said Saudi Arabia and its Gulf allies had tried to propose a new collective ceiling in an attempt to repair OPEC's waning importance and end a market-share battle that has sapped prices and cut investment.
Oil prices will keep recovering, says Saudi Arabia's new energy minister
Thu, Jun 02, 2016
"Everybody is very satisfied with the market. The market is rebalancing as we speak," said Khaled al-Falih, newly appointed by the kingdom's powerful and dynamic new crown prince.