Tag Archives: oil prices

Reuters – U.S. consumer prices recorded their biggest decline in six years in December and underlying inflation pressures were benign, which could bolster the case for delaying the first interest rate increase from the Federal Reserve. The Labor Department said on Friday its Consumer Price Index fell 0.4 percent last …

BY RANIA EL GAMAL AND ALEX LAWLER – Reuters – Saudi Arabia and its Gulf OPEC allies are showing no sign of considering cutting output to boost oil prices, even though they dipped below $50 a barrel this week. OPEC decided against limiting production at its last meeting on Nov …

Reuters – The global economy is ending the year in a fragile state with factory activity shrinking in China, euro zone business growth remaining weak, and emerging market giant Russia in a spiraling currency crisis. “These are uncertain times again and there is a risk of another global downturn,” said …

By Mohamad Bazzi for REUTERS – In August 1973, Egyptian President Anwar Sadat paid a secret visit to the Saudi capital, Riyadh, to meet with King Faisal. Sadat was preparing for war with Israel, and he needed Saudi Arabia to use its most powerful weapon: oil. Until then, King Faisal …

By Babu Das Augustine, for Gulf News- Gulf Cooperation Council (GCC) economies can withstand the pressures resulting from lower oil prices without having to make significant policy adjustments but, if needed, will likely adjust their fiscal policies accordingly, said analysts. “In general, we believe there is greater tolerance for fiscal …

IN COLLABORATION WITH MIDDLE EAST BUSINESS NEWS – If Saudi Oil Minister Ali al Naimi (pictured below) wants to stop conspiracy theories spreading before a crucial OPEC meeting next week, it’s too late. Naimi’s intervention last week after a two-month silence failed to address a question energy markets want answered: …

THE LEVANT – Saudi billionaire Prince Alwaleed bin Talal said the world’s top oil exporter should start worrying about the recent slide in global oil prices and warned against the negative effect of such a drop on the state revenue. In an open letter to Oil Minister Ali Al Naimi …