The economies of the Middle Eastern countries are currently suffering from a sharp drop in oil prices, for example Saudi Arabia, while Turkey and several…
Oil traded near $50 a barrel in New York as efforts by Venezuela’s president to seize more power raised speculation the U.S. could step up sanctions….
Reality is slowly dawning. Saudi Arabia has recognised that it is the swing producer in the global oil market and the only country with the…
Caution lights are flashing for the oil industry. Facing lower-than-expected commodity prices, drillers from ConocoPhillips to Hess to Statoil have slashed their capital spending plans…
Kuwait joined the United Arab Emirates in promising to pump less oil after Saudi Arabia called on fellow OPEC producers to cut more supply to…
Oil prices edged lower on Friday but were still near eight-week highs, buoyed by a decline in US inventories and oil cartel Opec’s ongoing efforts…
Oil futures edged lower on Thursday after fresh gains in the U.S. amid bullish weekly data on both supplies and production. The Energy Information Administration…
OPEC officials are hoping to limit the production of both Libya and Nigeria, as fears grow that the two exempted members are undermining cuts from…
An overnight rebound in oil prices may buoy Arabian Gulf stock markets on Wednesday, while Saudi Arabia could regain some strength as the latest corporate earnings have been…
The committee to monitor the global agreement made by 24 nations to curb production held its fourth meeting this year on July 24 — this…
