Saudi Arabia

Saudi's Naimi: OPEC cannot cut alone but others would not

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DUBAI - Saudi Arabia's powerful oil minister said on Thursday that OPEC could not cut output without the support of other big producers and attempts to get them on board had not worked.

UPDATE 2-Saudi's Naimi: OPEC cannot cut alone but others would not 18 Dec 2014

* Said OPEC overtures on output cooperation did not succeed

MIDEAST STOCKS-Gulf markets surge on stronger oil 18 Dec 2014

* Saudi Arabia's finance minister says state to keep spending

UPDATE 4-MIDEAST STOCKS-Gulf markets surge as oil rebounds; Dubai up 13 pct 18 Dec 2014

DUBAI, Dec 18 - Stock markets in Saudi Arabia and the United Arab Emirates soared on Thursday after the price of oil rebounded and the Riyadh government eased investors' fears by saying it would continue spending heavily on economic development.

Saudi crude oil exports rise to almost 6.9 mln bpd in Oct -data 18 Dec 2014

DUBAI, Dec 18 - Top oil exporter Saudi Arabia shipped more crude oil in October than a month earlier while volumes used by domestic refineries remained high allowing more oil products exports, official data showed on Thursday.

UPDATE 3-MIDEAST STOCKS-Gulf markets surge after oil rebounds 18 Dec 2014

DUBAI, Dec 18 - Stock markets in Saudi Arabia and the United Arab Emirates soared on Thursday after the price of oil rebounded and the Riyadh government eased investors' fears by saying it would continue spending heavily on economic development.

Saudi rulers reconsider ties to Wahhabi clergy 17 Dec 2014

RIYADH - Saudi Arabia's ruling Al Saud royal family are trying to adjust their relationship with the country's strict Wahhabi school of Sunni Islam as they increasingly view the teachings of some of its ultra-conservative clergy as a domestic security threat.

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Despite pain, OPEC hawks come round to merits of riding out oil slump 17 Dec 2014

LONDON - OPEC members which backed an output cut at the group's meeting last month are coming around to the view of Saudi Arabia that they need to focus on market share, further reducing the chance of any action to defend prices.

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Saudi Arabia to keep spending in 2015 budget: finance minister 17 Dec 2014

RIYADH - Saudi Arabia will continue spending on development projects and social benefits in its 2015 budget despite "challenging" global economic conditions, Finance Minister Ibrahim Alassaf said on Wednesday, state news agency SPA reported.

UPDATE 4-MIDEAST STOCKS-Saudi Arabia posts biggest daily drop in 6 years 16 Dec 2014

DUBAI, Dec 16 - Saudi Arabia's stock index posted its biggest daily loss in six years on Tuesday after the price of Brent crude oil dropped below $59 per barrel for the first time since 2009.

French far-right mayor gets one-year ban over campaign funds

PARIS - A National Front (FN) mayor in eastern France was banned on Friday from carrying out his functions for one year on grounds of irregular campaign funds, underlining the hurdles still facing the party as it seeks to show it can govern.