Bloomberg OPEC and Russia just gave their most implacable foe, US shale, an early holiday gift. As corporate boards for American oil explorers prepare to sketch out 2018 drilling budgets, the historic agreement by Saudi Arabia, Russia and other major crude producers to extend supply caps for another year may prompt directors to spend more on drilling. That’s because the ...

RIYADH / Reuters Major Saudi Arabian retailer Jarir Marketing Co expects single-digit growth in sales in 2018, after a double-digit pace this year as it took market share from smaller rivals, its chairman said. Government regulations pushing retailers of electronics to hire Saudi citizens instead of less costly foreigners hurt smaller companies that were less able to absorb the financial ...

Bloomberg Cape Wind, the offshore wind project off the coast of Massachusetts that drew the ire of the Kennedy and Koch families, is officially dead. Energy Management Inc. has ceased efforts to build what was once expected to become the first offshore wind farm in the US, according to an emailed statement from Chief Executive Officer Jim Gordon. The project’s ...