Word: saudi
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...ride last year, prices hit an all-time high of $147 a barrel in July before crashing to slightly more than $30 a barrel in December. Now oil futures hover around $70 a barrel - a price that is, finally, just right, according to Ali Al-Naimi, oil minister from Saudi Arabia, which produces about one-third of all OPEC oil. "The market is in very good shape," he told Reuters when he arrived in Vienna on Wednesday, Sept. 9. (See pictures of South Africa's oil-from-coal refinery...
...Russia OPEC has no control over one very important energy powerhouse: Russia. Russia's Energy Ministry reported this week that for the first time, the country's exports (about 7.4 million bbl. a day) outstripped those from Saudi Arabia, which has the world's biggest oil reserves. Saudi Arabia cut its production last year in order to prop up world oil prices and is easily the bigger potential oil producer. But oil analysts say that by ignoring OPEC's calls for production cuts, Russia has shown OPEC how little power it wields over non-OPEC producers. Although Russian officials told...
These days, there's a lot more of that sort of thing. She appeared at a 2008 state dinner for Saudi Arabia's King Abdullah in a raspberry-colored silk blouse and matching organza skirt. She's taken to pairing well-cut trousers with bright, ethnic print blouses this summer. And she recently gave the famously well-dressed Carla Bruni a run for her money, when she received the French first lady in a plum Felipe Varela bandage-dress whose horizontal lines emphasized (in the most ladylike way possible, of course) her fine figure...
...target religious and political leaders. Analysts say that the notoriously vicious new leader of the Pakistani Taliban Hakimullah Mehsud is keen to assert himself after assuming the leadership of the organization. But there is also speculation that any new campaign might be the work of al-Qaeda. Last week, Saudi Arabia's deputy interior minister survived an al-Qaeda suicide bomb attack in the port city of Jeddah. (See pictures of Osama Bin Laden...
...Italian journalist Massimo Donaddio noted in the daily Il Sole 24 Ore that Saudi Arabia's coach, at the recent World Athletics Championships in Berlin, declared that his athletes would strictly follow the Ramadan fast during the competition. The Saudis won exactly zero medals, writes Donaddio - but then, so did the Italians...