Saudi Oil Minister Ali Al-Naimi urged global energy executives to “stick together” through the worst industry slump in decades, saying he was confident that growing support for a deal to Continue Reading
Saudi oil minister Ali al-Naimi will join top North American and European drillers in Houston this week to debate how long the oil bust could last and how geopolitics are Continue Reading
Saudi officials insist the kingdom’s oil production strategy is not aimed at putting U.S. shale producers out of business, a message that has been repeated to visiting U.S. policymakers. The Continue Reading
Saudi Arabia is no state at all. It’s an unstable business so corrupt to resemble a criminal organization and the U.S. should get ready for the day after. For half Continue Reading
Standard and Poor’s said it lowered its sovereign credit rating for Saudi Arabia because of the pressure from the long decline in crude oil prices. S&P lowered the sovereign rating Continue Reading
Saudi Arabia boosted oil exports in 2015 as the world’s largest crude shipper ended its first year of a plan to defend market share with global supplies on the rise. Continue Reading
Russia’s President Vladimir Putin. Russia’s longest recession in two decades is proving a test too far for the labor market. After deflecting pressure in 2015 with salary reductions, part-time work Continue Reading
Saudi Arabia is “not prepared” to cut oil production, Agence France-Presse reported, quoting the Saudi foreign minister Adel al-Jubeir. “If other producers want to limit or agree to a freeze Continue Reading
The negative impact from the plunge in oil prices rippled further throughout crude-producing nations as Standard & Poor’s cut the credit ratings of Saudi Arabia, Oman, Bahrain and Kazakhstan. Saudi Continue Reading
For decades, the royal family has used the kingdom’s immense oil wealth to lavish benefits on its people, including free education and medical care, generous energy subsidies and well-paid government Continue Reading
