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Saudi Arabia led a shift in OPEC policy last year by rejecting calls to reduce production in order to support prices


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This file photo shows oil tanks at the Saudi Aramco headquarters during a media tour at Damam city, Saudi Arabia, on November 11, 2007. (Reuters/Ali Jareki/Files)


Opinion: Will We Survive the Oil Crisis?

Opinion: Will We Survive the Oil Crisis?

Saudi Arabia, like all other oil exporting countries, has lost 50 percent of its national revenues since the price of oil fell sharply, leveling out at around 60 US dollars per barrel. However, this shocking state of affairs is transitory. The Saudi government is...

Relief at US debt deal short-lived as dollar slides

London, Reuters—The dollar and European shares fell on Thursday as market relief at a last-ditch US budget deal gave way to worries over the economic impact of the 16-day government shutdown and prospects of a re-run early next year. The overnight deal approved by...
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File photo of people and vehicles are seen caught in a traffic jam in front of the Central Bank of Egypt’s headquarters in downtown Cairo. (Reuters/Amr Abdallah Dalsh)