saudi arabia

Japan and Germany make cars. Saudi Arabia pumps oil. China supplies the world with socks and toys and flat-screen TVs.

What does the United States produce? Lots of stuff, but in recent years this country's No. 1 export--by far--has been debt.

Comments by OPEC powerhouse Saudi Arabia suggested Tuesday that the 13-nation cartel would likely keep crude production steady, despite plunging oil prices.

Saudi Arabia and other producers are suggesting that OPEC will keep pumping at full tilt despite a price drop.

OPEC powerhouse Saudi Arabia suggested on Tuesday that a meeting of oil ministers of the 13-nation organization will decide to keep crude production steady.

Traders again shrugged off a pledge by Saudi Arabia to increase its oil production if needed and oil prices rose Monday, with the focus on disruptions to Nigerian supply and heightened Middle East tensions.

Saudi Arabia said Sunday it would produce more crude oil this year if the market needs it.

The kingdom announced a 300,000 barrel per day production increase in May and said before the start of the meeting in Jeddah that it would add another 200,000 barrels per day in July, raising total daily output to 9.7 million barrels.

Saudi Arabia's oil minister says the kingdom is willing to produce more oil if customers need it, but he cited no specific production increase.

Crude oil futures swung wildly on Monday, rising to a record and then tumbling as investors wrestled with whether they should put stock in Saudi Arabia's promise to boost production.

Retail gas prices rose to a record $4.08 a gallon.

Broadcast-technology conglomerate Harris won a deal to create HD-production facilities for Saudi Television in the holy cities of Makkah and Madinah in Saudi Arabia.

A group of senators called on President Bush on Thursday to halt billions of dollars in sophisticated arms sales to Saudi Arabia and several other Gulf oil producers unless they agree to pump more petroleum, reflecting growing frustration in Congress over soaring energy costs.

With a 4th intercontinental Internet sea cable damaged, slowing Internet access throughout areas like Egypt, Saudi Arabia, Qatar, the United Arab Emirates, Kuwait, Bahrain, Pakistan, Iran and India it makes one wonder how far it could go.

If the efforts were stepped up by a clandestine operation the world's economies could be gamed and shut down.