Oil

As Saudi Arabia undergoes a massive economic transformation in an effort to reduce its reliance on oil, consumers in the country are facing a new reality, too: taxes.

As Saudi Arabia undergoes a massive economic transformation in an effort to reduce its reliance on oil, consumers in the country are facing a new reality, too: taxes.

U.S. oil prices slipped on Wednesday after a surprising increase in U.S. crude inventories, while U.S. gasoline futures rallied 1 percent on a sharp falloff in inventories.

U.S. oil prices slipped on Wednesday after a surprising increase in U.S. crude inventories, while U.S. gasoline futures rallied 1 percent on a sharp falloff in inventories.

Brent oil rose 1 percent on Tuesday after top exporter Saudi Arabia said it was determined to end a supply glut, while prices also drew support from forecasts of a further drop in U.S. crude inventories as well as nervousness over tensions in Iraqi Kurdistan.

Brent oil rose 1 percent on Tuesday after top exporter Saudi Arabia said it was determined to end a supply glut, while prices also drew support from forecasts of a further drop in U.S. crude inventories as well as nervousness over tensions in Iraqi Kurdistan.

Saudi Aramco's initial public offering is on track to take place next year, Saudi Arabia's top sovereign wealth fund said on Tuesday.

Saudi Aramco's initial public offering is on track to take place next year, Saudi Arabia's top sovereign wealth fund said on Tuesday.

Oil prices were little changed on Monday as supply disruptions in Iraq dented exports by OPEC's second-largest producer and U.S. drilling rates showed a slowdown.

Oil prices were little changed on Monday as supply disruptions in Iraq dented exports by OPEC's second-largest producer and U.S. drilling rates showed a slowdown.

Oct 23 (Reuters) - Halliburton Co. (NYSE:HAL) reported a rise in third-quarter profit as the oilfield services company benefited from strong drilling activity in North America, its biggest geography by sales.

Oct 23 (Reuters) - Halliburton Co. (NYSE:HAL) reported a rise in third-quarter profit as the oilfield services company benefited from strong drilling activity in North America, its biggest geography by sales.

Oil prices fell on Friday and were set for a weekly loss as investors sought to book profits, despite tensions in the Middle East that have slashed supplies of crude.

Oil prices fell on Friday and were set for a weekly loss as investors sought to book profits, despite tensions in the Middle East that have slashed supplies of crude.

Schlumberger (NYSE:SLB) and Baker Hughes, a General Electric company, (NYSE:BGHE) issued cautionary statements over the future of the oil business when discussing its latest quarterly results on Friday, with weak oil prices slowing sector investment.

Schlumberger (NYSE:SLB) and Baker Hughes, a General Electric company, (NYSE:BGHE) issued cautionary statements over the future of the oil business when discussing its latest quarterly results on Friday, with weak oil prices slowing sector investment.

U.S. Senate Democrats on Thursday failed to pass a measure to block oil and gas drilling in part of the Arctic National Wildlife Reserve, losing to Republicans who believe production there would provide jobs and wealth.

U.S. Senate Democrats on Thursday failed to pass a measure to block oil and gas drilling in part of the Arctic National Wildlife Reserve, losing to Republicans who believe production there would provide jobs and wealth.