Crude Oil market fundamentals improving – Saudi Energy Minister

Saudi Energy Minister Khalid al-Falih said on Tuesday that oil market fundamentals were improving after an agreement struck with top oil producers to curb supply and end a two-year glut…

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OPEC reaches first deal to cut oil output since 2008

The world’s largest oil exporters agreed on Wednesday to cut output for the first time in eight years to erode a global supply overhang that has persisted for two years…

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Saudi Arabia

Saudis Walk Away From Russia, Oil Talks Fall Apart

Saudi Arabia is walking away from upcoming talks with non-OPEC members, including Russia, amid disagreements on how to share the burden of oil production cuts. Russia is the world’s largest…

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Saudi Arabia takes rare step, executes member of royal family

Saudi Arabia has taken the rare step of executing a member of its royal family after he was found guilty of murder, the Saudi interior ministry said in a statement….

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Saudi Arabia Launches $17.5 Billion Bond Sale to Global Investors

…Sale could be biggest-ever emerging-market debt issue; comes as kingdom works to keep economy afloat as oil income dwindles Saudi Arabia attracted massive investor demand of about $67 billion on…

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Scores killed in Saudi-led airstrike on Yemen funeral

An airstrike by a Saudi-led coalition on Saturday targeted a funeral hall packed with mourners in Yemen’s capital, Sanaa, killing at least 82 people and turning the site into a…

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US Congress veto override of 9/11 lawsuits bill ‘a mistake’ – Obama

President Obama has said Congress made a “mistake” by overriding his veto and pushing through a bill that allows legal action against Saudi Arabia over the 9/11 attacks. He said…

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OPEC set for no deal as Iran rejects Saudi oil output offer

Iran rejected on Tuesday an offer from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supply, dashing market hopes the two major OPEC producers would find…

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US Congress approves bill to allow 9/11 families to sue Saudi Arabia

The House has approved a bipartisan bill that would allow families of September 11 victims to sue the government of Saudi Arabia. The measure was approved by voice vote on…

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Oil price jumps on Russian and Saudi plans

The price of oil jumped after Russia and Saudi Arabia agreed to discuss ways to stabilise the oil market. The announcement was made by the countries’ energy ministers, Alexander Novak…

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