Dubai, United Arab Emirates — Saudi Arabia’s sovereign wealth fund invested more than $1 billion Monday in an American electric car manufacturer. The electric-car investment is a bold move for Saudi Arabia, an ultraconservative kingdom that for decades has relied on its oil wealth as the world’s top crude exporter. The Saudi Public Investment Fund said it would invest the over $1 billion in California-based Lucid Motors, an 11-year-old private company that has yet to bring a vehicle to market.
VIENNA — Talks between OPEC and non-member allies like Russia ended Friday without a deal on cutting oil production to limit a drop in the price of oil as the virus outbreak slashes demand. The […]
SOAVE, Italy — Anxiety over the new coronavirus epidemic sent global stock markets and oil prices plunging Monday and caused a cascading shutdown of sites and events ranging from the Sistine Chapel to Saudi schools […]
DUBAI — President Donald Trump said Thursday that he expects Saudi Arabia and Russia will dramatically cut production and end an oil war that sent energy prices to record lows. But the Kremlin disputed part […]