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Cash-rich Gulf states set to ride out oil-price plunge

Curbing output may help to halt price decline, but it'll leave GCC oil producers at risk of losing market share

Published Sun, Oct 26, 2014 · 09:50 PM

Kuwait City

ENERGY kingpin Saudi Arabia and other wealthy Gulf states are set to resist pressure to tighten the taps significantly to shore up oil prices as the global economy stumbles, analysts say.

Oil prices have fallen by a quarter since June as excess supply and weaker demand create a glut on world markets, prompting some other exporters to call for cuts in output.

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Companies & Markets

Cash-rich Gulf states set to ride out oil-price plunge

Energy & Commodities

Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early

Anglo rejects BHP takeover bid as significantly undervalued

India rice prices at three-month low on shrinking demand

Gold prices set for weekly decline ahead of US inflation data

Pricey coffee is here to stay as hoarding, heat hit Vietnam supply

Oil settles higher as weak US economic growth offset by supply concerns

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