Saudi Oil Minister Unmoved by Oil Prices
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Saudi Arabia Oil Minister Ali Naimi said today he&#39;s not concerned about a sharp further fall in the price of oil, saying prices remain relatively high.
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World oil prices fell by more than 1  percent on Monday, deepening earlier losses, after Saudi Oil  Minister Ali al-Naimi was quoted as saying markets were  healthier and an industry source said that one South Korean  refiner would receive an increase in Saudi supplies in March.
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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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LONDON - Oil prices hovered near $50 per barrel Tuesday after a Saudi Arabian oil official said the world's largest petroleum exporter would raise its production capacity by nearly 5 percent in a bid to calm markets.    Light sweet crude for November delivery was up 16 cents at $49.80 per barrel in late morning trading on the New York Mercantile Exchange, retreating from the $50.47 high reached in overnight electronic trade...
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Saudi Arabia may boost output capacity by 30 percent within two years in order to prevent shortages, the country&#39;s oil minister said.
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LONDON  - Red-hot oil prices during 2004, stoked by a surge in global demand and worries about disruptions to supplies, are not harming world economic growth, Saudi Arabia&#39;s oil minister Ali al-Nuaimi insisted.
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Oil tumbled more than 1 percent on Monday after Saudi Arabia's oil minister signaled satisfaction with market conditions and some Asian refiners reported a rise in anticipated Saudi supplies next month.
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The oil ministers of Opec heavyweights Saudi Arabia and Kuwait have pledged to maintain output after prices hit new peaks at the end of last week.
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A prominent Saudi dissident said Wednesday that he had not been informed by authorities about a move in the United Nations to freeze his assets and prevent him from traveling.
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Bout of fund-led selling counters decision to cut supplies by top OPEC exporter Saudi Arabia. LONDON  - Oil prices fell to a five-month low Monday as a bout of fund-led selling countered a cut in supplies by top OPEC exporter Saudi Arabia.
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LONDON, United Kingdom -- Red-hot world oil prices simmered just above 50 dollars on Wednesday after a pledge by Saudi Arabia to lift output brought only fleeting respite to a market gripped by supply fears, analysts said.
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Saudi Oil Minister Ali al-Naimi said on Sunday that the rise in oil prices to a record high had been determined by market forces.
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Oil prices surged nearly $2 a barrel yesterday 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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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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VIENNA  - There is no need to put more oil on the market as it is well-supplied, Iranian Oil Minister Bijan Namdar Zangeneh said here on Tuesday on the eve of an OPEC meeting.
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Qatari Energy Minister Abdullah al-Attiyah  said on Tuesday that $30 a barrel was a fair price for oil -- a  level nearly $20 below U.S. crude futures.
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Saudi Arabian Oil Minister Ali El-Naimi has said that the $10-15 &quot;fear premium&quot; that has been present in oil prices will disappear as the problems of &quot;supply&quot; and &quot;geographic tension&quot; diminish.