Now playing Next Business Saudis begin opening oil industry to foreign investors Saudi Arabia will open its oil refining ventures to foreign investors, but not state-owned exploration and production activities, according to 11/01/2016
Now playing Next Business Saudi Arabia confirms potential share sale of Aramco It’s been confirmed Saudi Arabia has been studying options and is considering a share sale of its oil company Saudi Aramco. If the move went ahead it 08/01/2016
Now playing Next Business Oil slides below 33 dollars a barrel Oil slid below 33 dollars a barrel on Thursday as a result of rising US energy stockpile and China’s weakening currency. Benchmark Brent fell 4.7 07/01/2016
Now playing Next Business Line Catching China's cold It is said when America sneezes the world catches a cold. In this first edition of 2016 we look at what happens to the world when China gets sick 06/01/2016
Now playing Next Business Oil prices hit lowest in 11 years Oil prices have hit their lowest in over 11 years as the diplomatic fall out between Saudi Arabia and Iran has killed speculation that OPEC members 06/01/2016
Now playing Next Business Oil supply could grow further after diplomatic fall out between Iran and Saudi Arabia Oil from Saudi Arabia is a part of the rivalry it has with Iran and now it’s taking to the stage in the diplomatic fall out. How will that effect 05/01/2016
Now playing Next world news Saudis brace for 'prolonged period' of low oil prices Saudi’s Arabia’s planned cuts in spending and energy subsidies show the world’s largest crude oil exporter is bracing for a prolonged period of low 29/12/2015
Now playing Next Business Oil industry's pain is the US motorist's gain It may not do much to reduce air pollution or greenhouse gas emissions – it’s certainly not helped the oil industry – but low fuel prices are a boon 23/12/2015
Now playing Next Business After a volatile 2015, a look forward to 2016 On the season finale of Business Middle East we summarise a volatile year and discuss the 2016 forecast for global and MENA markets with Nour Eldeen 22/12/2015
Now playing Next Business Falling oil prices wreak havoc in Venezuela The tumbling oil price has had a catastrophic effect in Venezuela, which has the dubious privilege of having the world’s highest inflation. The value 21/12/2015
Now playing Next Business Brent crude oil price falls to 11-year low Brent crude fell to its lowest price for more than 11 years on Monday, plunging to $36.05 a barrel before recovering slightly. It came as the global 21/12/2015
Now playing Next Business Russia boosts oil exports to Asia, denting OPEC's drive for customers Russian crude oil exports to Asian countries have increased by almost a quarter this year according to data compiled by Reuters. Sales rose 23 18/12/2015
Now playing Next Business US Congress leaders agree to end 40-year oil export ban US Congressional leaders have agreed to lift the country’s 40-year-old ban on oil exports, a historic action reflecting the impact of a boom in 16/12/2015
Now playing Next Business Moody's cuts 2016 oil price forecasts Moody’s has sharply lowered its forecasts for oil prices next year against the threat of a sustained global surplus. The ratings agency has brought 15/12/2015
Now playing Next Business Fear spreads across markets ahead of Fed rate decision In this week’s Business Middle East we take a look at global markets’ performance ahead of the US interest rate decision. With the countdown underway 15/12/2015
Now playing Next Business Oil prices tumble again to near 11-year low Oil prices tumbled four percent on Monday, coming close to their 11-year low – amid fears that the global surplus could worsen in the coming months 14/12/2015
Now playing Next Business Shell plans 2,800 more job losses over BG bid Royal Dutch Shell has confirmed plans for 2,800 more job losses should its takeover of BG Group succeed. The cuts come on top of 7,500 redundancies 14/12/2015
Now playing Next Business Crude oil prices plunge to fresh 7-year lows Crude oil prices hit fresh seven-year lows on Friday as the International Energy Agency warned that global oversupply could worsen in the New Year 11/12/2015
Now playing Next Business OPEC crude oil output rises to three-year high Unfazed by tumbling prices, undeterred by low demand, OPEC raised its production of crude oil to a three-year high in November. Failure to agree a 10/12/2015
Now playing Next Business Airline profits looking up for 2016, says IATA Airline profits will be boosted again next year by low oil prices and healthy demand for travel – that’s the confident prediction of the 10/12/2015
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