Ali Al-Naimi

Oil prices pick up Wednesday afternoon, stock market reverses declines

Oil prices recovered slightly after 4 per cent loss on Tuesday NEW YORK _ The stock market reversed steep declines and ended slightly higher on Wednesday, thanks in part to a pickup in the price of crude oil. Indexes continue to be weighed down by bank stocks, which remain under pressure due to economic unease

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Saudi oil minister says market should handle low prices

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Saudi oil minister says oil glut will end, but no prediction when HOUSTON _Saudi Arabia’s oil minister said Tuesday that production cuts to boost oil prices won’t work, and that instead the market should be allowed to work even if that forces some operators out of business. Ali Al-Naimi said production cuts by big, low-cost

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