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Oil prices are soaring as Saudi Arabia gets the upper hand over shale producers
Crude oil prices hit their highest level in three months overnight in response to growing signs that Saudi Arabia is winning its war on U.S. shale producers. A raft of data in recent days has suggested...
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Saudi Arabia Hangs Tough on Oil in Fight for its Future
Saudi Arabia isn't going to cut and run - at least not anytime soon. The Kingdom has both the money and the patience to see the latest plunge in oil prices through to the bitter end, and it won't be...
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There Is Now Only One Country Left in the World Where Women Can’t Vote
Saturday marks the first Saudi Arabian election in which women will be allowed to both run for office and vote in municipal elections. In a statement released after the King Abdullah's decision on the...
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The Oil Export Ban’s Death Won’t Raise Gas Prices—For Now
Anyone who thought Rep. Paul Ryan would make government budget talks more transparent as Speaker of the House may have to reconsider. In the $1.1 trillion spending bill passed today by a 316-113 vote...
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How Oil’s Fall Led to ISIS’s Rise
After the terrorist attacks in Paris and San Bernardino, the presidential race has shifted its focus, understandably, from the economy to terrorism and international relations. But given how the the...
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World Stock Markets Reel From China, Saudi Shocks
Global stock markets have opened 2016 with a bang–just not the kind most were hoping for. The only color on the screens (unless you’re an oil or gold trader) is red, as markets tumble from Shanghai to...
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Here’s Why Saudi Arabia and Iran Are at Each Other’s Throats
It’s not been a great start to 2016. Saudi Arabia has cut diplomatic ties with Iran after its embassy in Tehran was torched by protesters over the weekend. Iran’s Supreme Leader, Ayatollah Ali...
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Here’s Why Saudi Arabia-Iran Tensions Will Not Lead to Oil Market Mayhem
Increased tensions between Saudi Arabia and Iran shouldn’t be interpreted as a bullish signal for world crude prices. While things may look ugly at the moment, with both sides recalling their...
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Breaking down 2016’s inauspicious start
Somebody must have forgotten to eat their black-eyed peas on Friday, because the year is off to a very inauspicious start. Global markets got pummeled on Monday, and massive intervention by the Chinese...
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What Saudi Arabia’s Spat With Iran Means for the U.S.
Earlier this week, Saudi Arabia cut off diplomatic ties with Iran after authorities executed a popular Shiite cleric. Anyone watching this meltdown unfold has every reason to think of worse-case...
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The World’s Most Valuable Company Is Considering an IPO
Saudi Arabia’s state-owned oil company Aramaco, likely the world’s most valuable company, could sell its shares in an initial public offering, according to statements by the kingdom’s Deputy Crown...
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Why a Saudi Aramco IPO Makes Absolutely No Sense for Saudi Arabia
If Saudi Aramco goes public, Saudi Arabia will face an enormous existential dilemma. The Saudi royal family's total control of Arabia's oil wealth is the root of all of its power, influence, and...
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How America Could Win Even When Oil Prices Crash
Many Americans aren't sure what to think about the ongoing collapse in oil prices. They love lower prices at the pump, but continued market volatility, combined with widespread layoffs in the oil patch...
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Saudi Royals Gave Malaysia’s PM $681 Million
It sounds like the infamous scam where someone claiming to represent a former minister from a corrupt African country offers you millions in return for your bank account details. Only, this time, the...
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Will They, Won’t They? OPEC Denies Russian Talk of Cutting Oil Output
Well this is fun. Oil prices have shot higher Thursday after comments from the Energy Minister of Russia, Alexander Novak, that Russia is open to talks next month on coordinating output cuts with the...
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Don’t Count on Russia and OPEC Cutting Oil Production Anytime Soon
Talk of Russia and OPEC joining forces to cut oil production to boost sagging oil prices is simply ludicrous. The Saudi government, which is by far the largest and most influential producer in the...
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OPEC Members Are Shifting Toward Ending Oil Glut
The mood inside the Organization of the Petroleum Exporting Countries (OPEC) is shifting from mistrust to a growing consensus that a decision must be reached on how to end the global oil price rout,...
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Saudi Arabia and Russia ‘Agree To Freeze Production”
Crude oil futures surged 5% overnight to their highest in a week on reports that Saudi Arabia and Russia were set to put aside their differences and work together on restricting output to end the...
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Saudi, Russia Agree To Freeze Oil Output Levels
The world’s two largest oil producers struck a tentative deal to freeze their oil output at current levels in what may be the start of coordinated action to end the global crude glut. The news is a ray...
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Bouncing Markets and the Fed’s Latest Minutes–5 Things to Know Today
Hello friends and Fortune readers. Wall Street stock futures are in buoyant mood this morning in a general “risk-on” move despite mixed messages from individual companies and news of China sending...
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