Saudi Arabia

Saudis block OPEC output cut, sending oil price plunging


VIENNA - Saudi Arabia blocked calls on Thursday from poorer members of the OPEC oil exporter group for production cuts to arrest a slide in global prices, sending benchmark crude plunging to a fresh four-year low.

UPDATE 8-Saudis block OPEC output cut, sending oil price plunging

* Saudis battling for share in oversupplied market (Adds Venezuela's Ramirez)

12:06am IST

Gulf states seek to block OPEC oil output cut

VIENNA - Gulf oil producers led by Saudi Arabia looked set on Thursday to block any cut in OPEC output, ignoring calls from poorer members of the exporters' group for action to halt a slide in crude prices.

27 Nov 2014

UPDATE 2-MIDEAST STOCKS-Gulf in sell-off on OPEC pessimism

DUBAI, Nov 27 - Saudi Arabia's bourse followed other Gulf markets and fell in early trade on Thursday as investors' hope that OPEC would cut oil output to boost the price at a meeting in Vienna waned, while Egypt extended gains.

27 Nov 2014

UAE sees oil price stabilising, steps up pressure on non-OPEC

VIENNA - Core Gulf oil producer United Arab Emirates sided with OPEC leader Saudi Arabia on Wednesday by saying the group should not panic as oil prices would soon stabilise, while ramping up pressure on non-OPEC producers to help balance global supply.

26 Nov 2014

Saudi's Naimi sees oil market "stabilising itself"

VIENNA, Nov 26 - OPEC leader Saudi Arabia signalled on Wednesday it was unlikely to push for a major change in oil output at the producer group's meeting this week, a day after Russia refused to cooperate in any production cut and threatened to unleash an oil price war.

26 Nov 2014

Oil down 2 percent as pre-OPEC talks don't lead to output cut

NEW YORK - Oil tumbled 2 percent to near four-year lows on Tuesday in another volatile session as a meeting of Saudi Arabia and three other nations ahead of an OPEC summit ended with no deal to curb crude output.

26 Nov 2014

Oil tumbles after OPEC, Russia, Mexico fail to agree on cuts

NEW YORK - Oil prices tumbled by more than $1 a barrel on Tuesday to near four-year lows, reversing early gains after a meeting between Saudi Arabia, Venezuela and major non-OPEC oil exporters ended with no deal on curbing output.

25 Nov 2014

Saudi, Russia pre-OPEC talks yield no oil output cut

VIENNA - Impromptu talks between Saudi Arabia, fellow OPEC member Venezuela and oil powers Russia and Mexico yielded no agreement on Tuesday on how to address a growing oil glut, ending without any plan to cut output despite a collapse in prices.

25 Nov 2014

Saudi Arabia says Islamic State ordered attack on Shi'ites in al-Ahsa

DUBAI - Saudi Arabia has arrested the four main suspects in an attack on Shi'ite Muslims this month and believes it was ordered by Islamic State militants from abroad, the state news agency cited an Interior Ministry security spokesman as saying on Monday.

25 Nov 2014

Syria denies targeting civilians, tells US to criticise militants

BEIRUT - Syria rejected as "fabricated" U.S. accusations that its forces are targeting civilians with air strikes and said Washington would do better to criticise hardline Islamic State militants who have killed American citizens.