Oil prices

Middle East economies take massive hit with oil price crash
Middle East

Middle East economies take massive hit with oil price crash

BAGHDAD (AP) — Iraq is planning painful cuts in social benefits relied on by millions of government workers. Saudi Arabia…
Coronavirus shakes Saudi state’s foundations
Middle East

Coronavirus shakes Saudi state’s foundations

More than elsewhere, the coronavirus outbreak has put Saudi Arabia’s vision for the future in jeopardy. The collapse in oil…
Iran will fare better than others after oil price drop, says Rouhani
Middle East

Iran will fare better than others after oil price drop, says Rouhani

DUBAI (Reuters) — Iran will not suffer as much as other countries from the oil price drop because it is…
US dollar jumps vs Saudi riyal in forwards market as oil slumps
Economy

US dollar jumps vs Saudi riyal in forwards market as oil slumps

LONDON/DUBAI (Reuters) — The US dollar rose against the Saudi riyal in the forwards market on Wednesday after oil prices…
Middle East economies battered by virus, oil prices and conflict
Middle East

Middle East economies battered by virus, oil prices and conflict

DUBAI, United Arab Emirates (AP) — The Middle East, already wracked by high numbers of unemployed youth, unrest, conflict and…
Oman says will cut oil output by 200,000 bpd from May 1
Business

Oman says will cut oil output by 200,000 bpd from May 1

DUBAI (Reuters) — Oman has told its oil producing companies to cut 200,000 barrels per day starting from May 1…
OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic
Business

OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic

BAKU/DUBAI/LONDON (Reuters) — OPEC and allies led by Russia agreed on Sunday to a record cut in output to prop…
Saudi Arabia, Russia seek to finalize oil cuts in G20 talks, want US involved
Business

Saudi Arabia, Russia seek to finalize oil cuts in G20 talks, want US involved

DUBAI/MOSCOW (Reuters) — Saudi Arabia, Russia and their allies will press Mexico on Friday to join an accord for collective…
Oil edges down after Saudi Arabia, Russia delay meeting
Middle East

Oil edges down after Saudi Arabia, Russia delay meeting

SINGAPORE (Reuters) – Oil prices fell on Monday, after Saudi Arabia and Russia delayed a meeting to discuss output cuts…
Saudi, UAE businesses battle cash crunch despite anti-coronavirus stimulus
Middle East

Saudi, UAE businesses battle cash crunch despite anti-coronavirus stimulus

RIYADH/DUBAI (Reuters) — Saudi Arabia and the United Arab Emirates are spending tens of billions to prop up their economies…
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