Saudi Arabia tried but failed to prevent crude oil from suffering the longest losing streak on record.
CNN reports US oil prices jumped when Saudi Arabia signaled plans to cut production.
But the rally faded, and crude eventually closed below $60 a barrel for the first time since February.
Retired Army Gen. John Abizaid, who is best known from his time overseeing the Iraq War, is expected to become the U.S. ambassador to Saudi Arabia. If confirmed, he would likely play a key role in the..
Credit: The Washington Post - Affiliate - Published
Oil prices rose on Monday after Saudi Arabia said OPEC and its partners believed demand was softening enough to warrant an output cut of 1 million barrels per... Reuters India - BusinessAlso reported by •Sify •Reuters
Saudi Arabia plans to reduce oil supply to world markets by 0.5 million barrels per day in December, its energy minister said on Sunday, as the OPEC power faces... Reuters India - BusinessAlso reported by •Firstpost
Saudi Arabia, the world's top crude exporter, said Sunday it will cut oil output from next month, as major producers held a key meeting to discuss shoring up... DNA - Front PageAlso reported by •Reuters India