Military move on Iran could triple oil price: Saudi
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World oil prices could triple if the  diplomatic standoff over Iran&#039;s nuclear program escalates into  a military conflict, Saudi Arabia&#039;s ambassador to the United  States said on Tuesday.
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Oil prices surged nearly $2 a barrel Wednesday following two bombings in the capital of Saudi Arabia and after the US government reported that winter fuel supplies shrank last week.
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Many are hoping a trip by Iranian President Mahmoud Ahmadinejad to Saudi Arabia will help calm sectarian tensions threatening the Middle East, notably those in Iraq and Lebanon.
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Saudi Arabia on Wednesday said it had fired a security adviser who wrote in The Washington Post that the world's top oil exporter would intervene in Iraq once the United States withdraws troops.
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Saudi Arabia's foreign minister urged the United States and Iran on Wednesday to show restraint after this weekend's naval confrontation in the Persian Gulf and warned of the grave consequences of such incidents.
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BEIRUT -- Iran's president heads to Saudi Arabia tomorrow for discussions with King Abdullah, an indication that weeks of talks between their envoys on simmering conflicts in Iraq and Lebanon have made some headway.
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VIENNA : OPEC kingpin Saudi Arabia on Monday hinted the cartel would not raise either its official production rate or the price band at a ministerial meeting, as the oil price had stabilised.
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Saudi Arabia plans to expand its oil output capacity by 14 percent over the next few years to avert shortages as demand rises, the nationâs oil minister said Monday.
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Leading OPEC producer Saudi Arabia said on Monday in Vienna, Austria, that it had made a renewed effort to deflate record high world oil prices by upping crude output again.
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Saudi Arabia's oil minister Ali Naimi said his country is working toward lifting its sustainable oil production capacity to 12.5 million barrels a day, and added that the "fear factor" over supply has increased the oil price by &#36;10-&#36;15 a barrel.
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Saudi Arabia will increase oil production capacity to 11 million barrels per day (bpd) in a bid to curb soaring prices, Oil Minister Ali al-Nuaimi has said.
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Oil prices rose on Thursday as Iran   looked set to defy the United Nations' deadline for halting   nuclear enrichment, raising the risk of sanctions against the   world's fourth-biggest crude exporter.
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Saudi Arabia is raising its oil production capacity in an effort to cool the red-hot crude futures market. The world&#39;s largest oil exporter says it will raise capacity from 9.5 million barrels a day to 11 million barrels.
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Iranian President Mahmoud Ahmadinejad will make his first official trip to Saudi Arabia, a major U.S. regional ally, on Saturday amid a growing international standoff over Tehran's nuclear program.
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Renewed tensions between the US and Iran as well as a US cold snap push oil prices above $60 a barrel.
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Oil prices rise above $71 amid the prospect of more sanctions against Iran and a strike threat in Nigeria.
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Saudi Arabia is urging global oil stocks be increased before the world&#39;s crude oil cartel consider cutting output. Members of the Organization of Petroleum Exporting Countries