Kuwaitis, Saudis pledge oil help
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Two OPEC members are pledging to increase supply or boost reserves as oil prices spiral higher, according to media reports Sunday.
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Saudi Interior Minister Prince Nayef bin Abdul Aziz speaks during the GCC Interior Ministers meeting in Kuwait, Sunday Oct. 10, 2004.
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Saudi authorities reiterate their pledge to crush Islamic militants after an attack on the US consulate in Jeddah.
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The oil producers' group is set to meet, with some members pressing for a reduction oil output.
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Saudi Arabia&#39;s oil minister said Wednesday that he was happy with OPEC&#39;s current output, while his Libyan counterpart called for a production cut.
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Saudi Arabia sought to regain some control of oil markets Tuesday, promising to make available 800,000 barrels a day of new oil by the end of the month and to keep pumping crude vigorously.
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THE UAE and Kuwait plan to increase oil production capacity by nearly 3,00,000 bpd and 2,00,000 bpd respectively in the short term in a bid to stabilise the market, which has been rocked by high oil prices touching $53 per barrel prior to the week end.
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U.S. election-year pledges by both presidential candidates to wean the nation from its foreign oil dependence have vote-winning potential but may be just a pipe dream, energy experts say.
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NEW DELHI: Kuwait&#39;s foreign minister said yesterday that Middle East oil exporters are producing at maximum capacity to stabilise prices that are being driven up by speculators from outside the region.
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Top world oil exporter Saudi Arabia vowed on Sunday to maintain a cushion of spare supplies of up to 2 million barrels per day (bpd) to meet future demand growth.
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OPEC nations and Saudi Arabia in particular are standing in the way of getting financial help to developing countries to cope with global warming, the World Wide Fund for Nature (WWF) said on Thursday.
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Saudi Arabia increases its aid pledge for tsunami victims, after criticisms that Gulf states are not contributing enough.
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RIYADH, Saudi Arabia, Jan. 14 -- President Bush on Monday launched a rare round of intensive personal diplomacy with Saudi King Abdullah aimed at winning support for a variety of American objectives such as rebuilding Iraq, pressuring Iran, fighting al-Qaeda and backing the U.S.-brokered peace talks...
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Saudi Arabia and other Gulf Arab states back a token rise in OPEC oil output in a gesture to consumer nations worried by the economic impact of $76 oil and rapidly diminishing stocks, an OPEC source said on Monday.
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Saudi Arabia says it will raise oil production in an effort to bring down prices that have soared to more than $50 a barrel. Saudi Oil Minister Ali al-Naimi said Tuesday that the kingdom will step up its daily
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Major Gulf oil producer Kuwait will back a hike of 1 million barrels per day in OPEC's output ceiling if crude prices remain at record levels, a move that would bring the cartel's formal production limits in line with actual supplies.
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WASHINGTON -- While North Americans wince as they fill up their vehicles with fuel, market forces are smiling on the Saudi Arabias and Exxon Mobils of the world.