Middle-east Arab News Opinion | Asharq Al-awsat

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File photo of an oil refinery. (Reuters/Bret Hartman/Files)

Current oil unrest will not affect Saudi budget: experts

by Shuja Al-Baqmi | Aug 6, 2014 | Business

Riyadh, Asharq Al-Awsat—The recent steep drop in oil prices and the continued unrest in oil-producing countries such as Libya and Iraq will not have a direct effect on Saudi Arabia’s current budget, despite possibly impacting its oil revenues, a number of economic and...

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Saudi Arabian minister of petroleum and mineral resources Ali Ibrahim Al-Naimi addresses the audience during a lecture at the Center for Strategic and International Studies (CSIS) in Washington, D.C. on April 30, 2013. (AFP PHOTO/ Mladen ANTONOV)

Saudi oil minister says Saudi Arabia ready to meet crude demand

by Asharq Al-Awsat | Sep 12, 2013 | Business

Seoul, Reuters—The global oil market is well balanced and top exporter Saudi Arabia is ready to supply whatever volume of crude is needed to meet demand, Saudi Oil Minister Ali al-Naimi said on Thursday. Saudi Arabia produced record high volumes of crude in August as...

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In this Dec. 13, 2009 file photo, Iraqi laborers work at the Rumaila oil refinery, near the city of Basra. (AP Photo/Nabil al-Jurani)

Oil climbs over USD111 as Egypt unrest stokes supply fears

by Asharq Al-Awsat | Aug 15, 2013 | Business

London, Reuters—Brent oil prices climbed above USD 111 per barrel to a four-month high on Thursday on fears violence in Egypt could affect the Suez Canal or spread in the Middle East, where supplies are already disrupted. Egypt’s government declared a state of...

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Trader Peter Iocolano works in the oil options pit at the New York Mercantile Exchange Wednesday, July 3, 2013. Source: AP Photo/Richard Drew

Brent crude hits 3-month high above USD 108 on Egypt unrest, supply worries

by Asharq Al-Awsat | Jul 8, 2013 | Business

Singapore, Reuters—Brent crude futures rose above USD 108 to the highest in more than three months on Monday, extending last week’s gains as tensions in Egypt stoked concerns about global oil supplies. At least 15 people were killed on Monday in Cairo, medical...