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ALI NAIMI

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abtest

Iran readies for big oil production hike

By George Jahn | December 5, 2013 - 7:05am

Iran indirectly challenged OPEC kingpin Saudi Arabia on yesterday, announcing it plans to pump as much oil as it can once sanctions on its crude exports are lifted, even if its extra output drives prices into the...

World

Saudi-Iran rivalries high ahead of OPEC meeting

June 13, 2012 - 11:12pm

OPEC ministers are coming into a meeting deeply divided over how much crude to pump, with Saudi Arabia keen to keep a lid on prices, rival Iran pushing to cut production and Iraq expected to back Iran, its longtime...

OPEC leaves output on hold, causing oil price jump

June 10, 2011 - 12:00am

VIENNA – OPEC unexpectedly left its production levels unchanged Wednesday, causing oil prices to jump, as senior officials said their meeting ended in disarray — a stunning admission for an organization...

Business

Dissent within OPEC erodes cartel's power

June 10, 2011 - 12:00am

OPEC's stunning admission of major dissent within its ranks has left it reeling and its status as the world's oil power-broker tarnished, perhaps beyond repair. But is a weakened cartel good or bad for consu...

Saudi oil minister says market is oversupplied

April 18, 2011 - 2:29pm

Saudi Arabia's oil minister says the global oil market is oversupplied, dampening hopes OPEC will soon boost its output in an effort to bring down prices.

Oil hovers above $88 ahead of OPEC meeting

December 10, 2010 - 12:48pm

Oil prices hovered above $88 a barrel Friday in Asia as traders looked to this weekend's OPEC meeting for any changes to the cartel's crude production policy.

Oil below $76 as OPEC ministers flag steady output

December 7, 2009 - 12:29pm

Oil prices hovered below $76 a barrel Monday in Asia after several OPEC ministers said they don't expect their group to change production levels at a meeting later this month.

Oil price is perfect says Saudi oil minister

December 5, 2009 - 4:58pm

CAIRO (AP) — Saudi Arabia's oil minister says the current global oil price is "perfect" and the market is stable.

OPEC: Saudi says crude markets 'in good shape'

September 8, 2009 - 4:16pm

VIENNA (AP) – Saudi Arabia's oil minister says global crude markets are "in good shape," signaling that OPEC probably won't change its production levels at this week's meeting in Vienna.

Oil ministers: OPEC keeps output steady

May 29, 2009 - 12:02am

VIENNA (AP) – OPEC has decided to keep its production targets unchanged, oil ministers said yesterday at a meeting in Vienna.