Brent crude settled up 49 cents at $73.07 a barrel. Brent fell 3.1 percent in the week.
One of General Electric Co’s (GE.N) largest and most valuable customers, Saudi Arabia, is lining up competitors to bid against GE for lucrative power plant work, according to five people familiar with the situation.
Saudi Aramco IPO-ARAM.SE has invited banks to pitch for an advisory role on the potential acquisition of a strategic stake in Saudi Basic Industries Corp (SABIC) 2010.SE, two sources with direct knowledge of the matter told Reuters.
Albanna has allayed fears of an oil shortage, saying his country as well as Saudi Arabia can fill in if supply from Iran is disrupted.
Riyad Bank, Saudi Arabia’s fourth-largest lender by assets, posted a 25.2 percent rise in second-quarter net profit on Tuesday, in line with analysts’ forecasts as fees and commission income rose.
Qatar Airways’ chief executive said the airline was adapting to a regional political dispute that has prevented it flying some routes, and that those restrictions would not necessarily push it into the red for the current financial year.
The International Monetary Fund warned on Monday that escalating and sustained trade conflicts are increasingly likely, threatening to derail economic recovery and depress medium-term growth prospects.
Iran’s top authority Supreme Leader Ayatollah Ali Khamenei has criticized Saudi Arabia over its management of the haj pilgrimage and called for a fresh investigation into a 2015 crush that killed hundreds, Iranian state TV reported.
Iran’s oil minister told his Saudi Arabian counterpart that last month’s OPEC supply pact does not give member countries the right to raise oil production above their targets, according to a letter reported by Iran’s news agency Shana.
This year's Haj would be a "landmark" pilgrimage for Indians as several reforms such as doing away with subsidy and women going without a male guardian are associated with it, Minority Affairs Minister Mukhtar Abbas Naqvi said.