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Saudi Arabia

Saudi King Salman delivers his first major policy speech since assuming the throne in the al-Yamama palace, Riyadh, Saudi Arabia, Tuesday, March 10, 2015. (AP Photo/SPA)

Saudi Aramco creates supreme board as oil exporter reorganizes

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Saudi Arabia is pumping near-record amounts of crude, leading the Organization of Petroleum Exporting Countries in a policy of maintaining output to pressure suppliers outside the 12-nation group to help tackle an excess.
In this Jan. 24, 2015 file photo, Saudi Arabia's King Salman attends a ceremony at the Diwan royal palace in Riyadh. Salman on Wednesday, April 29, 2015, redrew the line of succession, appointing a counterterrorism czar as crown prince and placing his own defense minister son in line for the crown, in a dramatic reshuffle that reflects the kingdom?s mounting security concerns and newly assertive foreign policy. (AP Photo/Yoan Valat, Pool)

Salman abandons Saudi royal balancing act to impose rapid change

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In less than four months, the king has overhauled his cabinet, removed princes from government roles, merged ministries and realigned the succession.
A boat of tourists moves on Dubai creek, with the city skyline in the background in Dubai, United Arab Emirates. (AP file photo/Kamran Jebreili)

The oil slump is emptying the stores of Dubai

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With the plunge in crude throttling economies across the Middle East, gold buyers are harder to find.
(DEwira/AFP/Getty Images)

OPEC oil output near 2 1/2-year high as Saudis show no letup

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Prices tumbled the first quarter of this year as U.S. output surged to the highest level in more than four decades and OPEC members pumped more barrels.
Saudi King Salman delivers his first major policy speech since assuming the throne in the al-Yamama palace, Riyadh, Saudi Arabia, Tuesday, March 10, 2015. (AP Photo/SPA)

Saudi King cements power around next generation in reshuffle

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The monarch elevated Muhammad Bin Nayef to crown prince after Prince Muqrin, the king’s brother, asked to step down, the royal court said on Wednesday.
In this photo released by Saudi Press Agency, Deputy Crown Prince of Saudi Arabia, Prince Muqrin bin Abdulaziz Al Saud, front, receives Venezuelan President Nicolas Maduro, center, at the King Khalid International Airport in Riyadh, Saudi Arabia, Sunday, Jan. 11, 2015. (AP Photo/SPA)

Saudi prince sees ‘excellent’ oil market as kingdom meets demand

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“We will supply any demand for Saudi oil, as we are interested in the stability of the market,” Prince Abdulaziz said.
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CERAWeek: Middle East demographics mean big changes for region

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HOUSTON — The Middle Eastern dynamic will shift in the next decades as an overwhelmingly young population ages, a panel of international experts told IHS Energy CERAWeek attendees on Friday. The Middle East is already a troubled region. A number of civil wars have destabilized several countries such as Iraq and Syria, and a recent […]
(AP file photo/John Moore)

Saudi Arabia’s solution to global oil glut: Pump even more crude

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The world’s biggest oil exporter now has incentive to maximize output and undermine rival producers by using its reserve capacity.
A panel of Middle East experts discusses OPEC's role amid the U.S. shale boom at IHS Energy's CERAWeek conference. (Houston Chronicle)

CERAWeek: OPEC’s not dead, just different

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OPEC no longer has the same stranglehold over oil markets it once had, but it’s wrong to declare the cartel dead, a panel of Middle East experts and analysts said Tuesday.
Jim Burkhard, CERAWeek vice chariman. (CERAWeek On Demand)

CERAWeek: U.S. and Wall Street take over OPEC’s role as global swing producer

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Financial markets underpinning the U.S. shale boom have emerged as the world’s de facto regulator of global oil production, taking over from the Saudi Arabia-led cartel of crude exporting nations that abdicated its decades-old role in November, a top IHS researcher said Monday.