Tag archive for ‘Oil Prices’
FT: Saudi to increase Oil Output
London, UK (FT.com): Saudi Arabia said on Friday that it was increasing its oil production to its highest level in two years, bowing to intense US pressure after the price surged to a fresh record of almost $128 a barrel.
The announcement of a boost to output by about 300,000 barrels a day came after a [...]
Saudi Arabia rejects Bush’s request for increased oil output
Riyad, Saudi Arabia (Washingtonpost.com): Saudi Arabia Friday rejected the idea of increasing oil production to help ease soaring gasoline prices, telling President Bush that the kingdom already is meeting its customers’ demand for crude.
The apparent rebuff came as Bush appealed to Saudi King Abdullah to use his country’s vast oil reserves — the world’s [...]
Saudi Arabia experiences new Golden Era of Wealth with Oil over $100 per barrel
New York, NY (Bloomberg.com): Credit Suisse Group recommended buying shares of Al Rajhi Bank, Saudi Arabia’s biggest bank by market value, as well as Saudi Arabian Fertilizer Co. and said the country is in a “golden era.”
The brokerage also initiated coverage on Riyad Bank and Almarai Co. with “outperform” ratings. Saudi Basic Industries Corp., the [...]
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