OPEC set to meet with allies on compliance
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….
Oil policy
Oil prices, half a step is not enough
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…
Petroleum companies slim drilling budgets as caution takes hold
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 and UAE pledge to cut oil output
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 is near 8-week highs
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…
Saudi Arabia is nervous over OPEC compliance
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…
Oil price above $50 may give local market a boost
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…
Saudi view on OPEC deal problems
The committee to monitor the global agreement made by 24 nations to curb production held its fourth meeting this year on July 24 — this…
Oil prices rise on export curb pledge
Oil prices pushed higher after a fresh pledge from Saudi Arabia to reduce exports. It also urged Opec members to to help cut global oversupply which has held back…
Oil is stable ahead of producer meeting
Oil prices held around a one-week low on Monday ahead of a joint OPEC and non-OPEC meeting later in the day that may address rising…