Saudi Arabia
Saudi Arabia Articles
There is an agreement among Saudi Arabia, Russia, Venezuela and Qatar that the four producing nations would freeze output at January levels.
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It looks like the crude oil market is getting set to once again tempt investors and traders with higher prices, only to pull the football away at the last instant.
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That Saudi Arabian Oil Co., better known as Saudi Aramco, is considering selling shares to the public has generated a lot of chatter about what the company might be worth.
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Some international economic watchers may wonder if a financially unstable Saudi Arabia could lead to more unrest in an already volatile Middle East.
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Continuing to pump more oil while prices show no signs of stopping their slide has led the Kingdom of Saudi Arabia to a budget deficit of $97.9 billion in 2015.
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Production drops in Saudi Arabia and Iraq were the primary reasons for a decline in crude oil production among the 12 members of OPEC.
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Qatar’s sovereign wealth fund has taken paper losses of up to $12 billion in the third quarter as a result of the Volkswagen scandal and other issues.
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OPEC released its August Oil Market Report Tuesday morning, which confirms that production continues to outstrip demand and will continue to do so through 2016.
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The price of the Organization of the Petroleum Exporting Countries (OPEC) reference basket of crude oils rose to $62.15 a barrel in May.
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Saudi exports dropped almost 6% year-over-year in 2014 to an average of around 7.1 million barrels a day, the lowest level in three years.
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When the Saudi Arabian Air Force began bombing targets in Yemen last week, the price of West Texas Intermediate (WTI) crude oil for April delivery spiked.
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Saudi Arabia has replaced India as the leading arms importer in the world, according to an IHS analyst.
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OPEC)said Monday that if producers fail to invest in developing new supplies, crude oil prices could rise as high as $200 a barrel.
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On any given day in 2013, nearly 40 million barrels of crude oil were being exported from a producing country to a consuming country.
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ThinkstockWest Texas Intermediate (WTI) crude oil for January delivery tumbled below $66 a barrel on Friday and closed at $66.15, down 10.5%, the lowest settlement in five years. Brent crude slipped...
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