middle east oil

OPEC Deal a Tough Task, as Oil Output Freeze Expectations Rise

By Rania El Gamal and Alex Lawler DUBAI/LONDON, Aug 15 – OPEC will probably revive talks on freezing oil output levels when it meets non-OPEC nations next month as top exporter Saudi Arabia appears to want higher prices, according to OPEC sources, although Iran, Iraq and Russia present obstacles to a deal. Riyadh sharply raised

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Burning The Midnight Oil

Saudi Arabia’s refusal to budge on oil prices has won it few friends BY Omar Al Ubaydli “You can’t run a business based on sympathies,” the controversial billionaire oil broker, Marc Rich once said. The business of oil is no different; it lubricates the region. And as the price of oil has taken a hit

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