Saudi Arabia

US sues Saudi businessman for 2013 wildfire in Riverside County

US sues Saudi businessman for 2013 wildfire in Riverside County

Federal government prosecutors in the United States have filed a lawsuit against a Saudi national, who has a house Riverside County, for causing the 2013 wildfire.

Recent Study Reveals US Holds More Oil Reserves Compared to Saudi Arabia and Russia

Recent Study Reveals US Holds More Oil Reserves Compared to Saudi Arabia and Rus

A recent study revealed that, the United States have higher oil reserves compared to Saudi Arabia and Russia. For the first the U.S has surpassed the oil reserves held by the largest oil exporting nations of the world.

Saudi Arabia Planning a New Sovereign Fund That will Focus on Diversifying Investments

Saudi Arabia Planning a New Sovereign Fund That will Focus on Diversifying Inves

Saudi Arabia is planning to build a new sovereign fund which will help it manage a part of its oil wealth along with diversifying the country's investments.

No Sight of Relief for Sliding Oil Prices

No Sight of Relief for Sliding Oil Prices

On January 6, when the Petroleum Status Report was released by the Energy Information Administration the inventories were on the lower side. However, that did not help in stopping the oil price from going down in the week.

Crude Oil Prices Drop Further as Saudi Arabia Sees no Need for Holding Oil Summit to Shield Prices

Crude Oil Prices Drop Further as Saudi Arabia Sees no Need for Holding Oil Summi

On Friday, the crude oil prices fell further hovering for a weekly fall as the news broke that Saudi Arabia, the top oil exporter sees no requirement for a producer summit which would help discuss plans to defend the falling prices that had partly counterbalanced a strong rally in the earlier session.

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