Market determines oil prices: Saudi Arabia
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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 slid to fresh six-month lows   on Wednesday on rising winter fuel stocks and waning concern   over Iran, but the world's largest exporter Saudi Arabia   signaled prices may have fallen enough.
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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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OIL prices rose for a second day after blasts were heard in Saudi Arabiaâs capital and after the United States government reported another decline in lean winter heating fuel stocks.
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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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Where does the volatility in oil prices come from, and is it likely to persist?
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LONDON - Oil prices eased on Monday as top world exporter Saudi Arabia slashed prices for its westbound crude sales in an effort to shift the large volumes it is offering to cool world markets.
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SAUDI minister Ali al-Naimi sought to take some of the heat out of the oil market, by promising that his Kingdom could pump an extra 1.5m barrels a day &#39;immediately&#39; if demand increases.
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LONDON, November 29  - Saudi Arabiaâs Oil Minister, Ali Al-Naimi, reiterated today that his country is taking adequate steps to expand its sustainable oil capacity, while mentioning that supply-related fears have resulted in a $10-$15
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President George W. Bush said on Tuesday oil prices were "very high" and tough for the U.S. economy to bear. He said he would discuss the issue with the king of OPEC powerhouse Saudi Arabia. Oil prices are around $95 a barrel.
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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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Saudi Arabia, the world&#39;s largest oil exporter, is to raise production from 9.5 million barrels a day to 11 million barrels in an attempt to rein in prices that have topped US$50 a barrel.
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RIYADH, Saudi Arabia, Jan. 15 -- With oil prices hovering around $90 a barrel, President Bush on Tuesday urged oil-rich countries to raise their output, but Saudi Arabia's oil minister said the world's largest producer would do so only "when the market justifies it."
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Prices of crude oil on the world market will go up after the Organization of Petroleum Exporting Countries (OPEC) decided Friday to cut oil production by1 million barrels a day, said a Mexican analyst on Sunday.
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VIENNA: Opec is keeping its foot to the pedal on oil production in a bid to push crude prices back below $US40 ($NZ62) a barrel. Risking a counter-seasonal fourth quarter build in stocks, Saudi Arabia will
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Oil prices ticked lower on Thursday, holding most of the previous day&#39;s gains after two car bombs in Saudi Arabia rekindled fears over Middle East supply security, one
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Oil prices rose for a second day on  Wednesday after blasts were heard in Saudi Arabia's capital and  after the U.S. government reported another decline in lean  winter heating fuel stocks.