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Tag Archives: Oil

Saudis worried over global oil demand

JEDDAH, Saudi Arabia — A top Saudi energy official expressed serious concern today that world oil demand could peak in the next decade and said his country was preparing for that eventuality by diversifying its economic base. Mohammed al-Sabban, lead climate talks negotiator, said the country with the world’s largest proven reserves of conventional crude is working to become the ...

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Oil prices stay near $78 per barrel

Oil prices hovered around $78 a barrel this morning as traders weighed doubts about global oil demand against a weaker U.S. dollar, which made crude cheaper for investors holding other currencies. By midday in Europe, benchmark crude for February delivery was up 30 cents to $78.30 a barrel in electronic trading on the New York Mercantile Exchange. On Friday, the ...

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