Ali Al Naimi

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Ali al-Naimi: the long-serving oil minister who lost his job in   a  government overhaul as part of the  Saudi Vision 2030 plan that aims, in part, to reduce Saudi Arabia’s heavy dependence on oil. Photograph: Ashraf Shazly/AFP/Getty Images

In a series of sweeping royal decrees on Saturday, King Salman of Saudi Arabia replaced a number of top ministers and restructured government bodies i(...)

Rigging the market: The price of Brent crude oil rallied on Tuesday to $44.70 a barrel, its highest level this year, on reports that Saudi Arabia and Russia had struck a deal on production restrictions. Photograph: Getty/iStockphoto

Shares in Tullow Oil soared in Dublin yesterday on mounting hopes a meeting of oil superpowers this weekend may result in a production freeze in a (...)

Saudi Arabian oil minister Ali al-Naimi: rejects distinction “between clean and dirty fuels”. Photograph: Jacky Naegelen/Reuters

The Kingdom of Saudi Arabia has been cast as the villain of the COP21 UN climate conference. “Saudi Arabia is braking on every important subject,” sa(...)

US crude for July was down 99 cents at $59.46

Oil fell to around $63 a barrel on Friday as concern over Greece and a forecast that US shale oil output would keep growing this year countered signs(...)

Crude inventories thought to have increased by 3.3 million barrels last week, before an Energy Information Administration report on Wednesday. Picture: Reuters.

Oil fell for the third time in four days before US government data forecast to show crude stockpiles expanded further from a record. Futures dropped a(...)

Oil has declined 45 per cent this year, poised for the biggest drop since 2008

Oil traded above $60 a barrel in London amid the highest volatility in more than three years as Saudi Arabia, the world’s largest crude exporter, is s(...)

An employee looks out over the  petroleum cracking complex at the Lukoil-Nizhegorodnefteorgsintez oil refinery in Nizhny Novgorod, Russia. Crude slumped 18 percent last month as Opec maintained its output quot. Photograph: Andrey Rudakov/Bloomberg

Saudi Arabia and the United Arab Emirates have blamed the rout in oil prices on producers outside Opec and reaffirmed their stance to hold output at c(...)

Oil prices have dropped roughly 30 per cent since June and predictions for the OPEC meeting range from a large output cut to no action at all

Brent crude oil fell towards $78 a barrel after Saudi Arabia’s oil minister said the market “will stabilise itself eventually”, ahead of a key OPEC m(...)

Nabors Industries Ltd drills for oil in the Orinoco Belt near San Diego de Cabrutitas, 300 miles from Caracas, Venezuela. Photograph: Diego Giudice/Bloomberg News

Oil prices tumbled to near four-year lows before paring some losses as the market was hit with conflicting signals on whether Opec will agree to curb (...)