Ali al-Naimi

Oil Price Soars on Supply Jitters

The price of oil rose more than 3 percent Tuesday on concerns about supplies from the Middle East and the North Sea.

Will Saudi Arabia's Gambit Drive Oil Prices Even Higher?

Saudi Arabian Oil Minister Ali al-Naimi said his country cut oil production in March because the market was oversupplied. Was this move an honest bid to a bid to expose the speculators and push prices back down, or an attempt to capitalize on the current instability to propel prices higher?

OPEC minister predicts $75 oil