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14 HOURS AGO - The Week

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10 things you need to know today: November 28, 2014

1. OPEC rejects pressure to reduce production, sending oil prices plummetingOil prices dropped by 7 percent to $69 per barrel on Thursday, the lowest level since May 2010. The dive came after OPEC announced that it was leaving production levels unchanged, dashing expectations that the group of leading oil exporters would slash production to boost prices. Saudi Arabia pushed to ...

Tags: 10 things you need to know today: November 28, 2014,  Saudi Arabia Latest News

23 HOURS AGO - New Statesman

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Wahhabism to ISIS: how Saudi Arabia exported the main source of global terrorism

Although IS is certainly an Islamic movement, it is neither typical nor mired in the distant past, because its roots are in Wahhabism, a form of Islam practised in Saudi Arabia that developed only in the 18th century. Small victory: Iraqi Shia militia celebrate their destruction of Isis-owned vehicles outside Tikrit, northern Iraq. Photo: Reuters   As the so-called Islamic ...

Tags: Wahhabism to ISIS: how Saudi Arabia exported the main source of global terrorism,  Saudi Arabia Latest News

NOV 27, 2014 - Russia Today

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‘Big hint at OPEC- Saudi oil minister says prices will stabilize’

The fact the Saudi oil minister thinks oil prices will stabilize themselves shows that Saudi Arabia is not willing to intervene alongside the rest of the OPEC members to cut production, Jasper Lawler, analyst at CMC Markets, told RT.

Tags: ‘Big hint at OPEC- Saudi oil minister says prices will stabilize’,  Saudi Arabia Latest News

NOV 27, 2014 - San Francisco Chronicle

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OPEC keeps oil output on hold despite low prices

VIENNA (AP) — OPEC oil ministers have decided to keep their present output target at 30 million barrels a day, despite an oversupply of crude and plunging prices. The decision Thursday was expected. OPEC oil power Saudi Arabia had indicated before the meeting that it favors the status-quo. The Saudis are the top producers within the 12-nation organization and effectively ...

Tags: OPEC keeps oil output on hold despite low prices,  Saudi Arabia Latest News

NOV 27, 2014 - Russia Today

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Saudi Arabia to keep politics out of OPEC, will let market stabilize price

Saudi Arabia’s oil minister said he believes the oil market will stabilize itself and raised the question why OPEC is expected to play a unilateral role in the global energy market, and not the US.

Tags: Saudi Arabia to keep politics out of OPEC, will let market stabilize price,  Saudi Arabia Latest News