Presidents of Russia and Iran addressed the importance of oil output deal with OPEC in stabilizing the market, pledged to continue these efforts and mentioned the importance of new economic ties in oil and gas between the two [ More … ]
In a surprise move, Saudi Arabia’s Energy Minister Khalid al-Falih said on Sunday that he believed the oil market would balance itself in 2017 even if producers did not intervene, adding that keeping output at [ More … ]
Iran hopes non-OPEC Russia and OPEC heavyweight Saudi Arabia can agree to coordinate on possible actions on the global oil market, as both countries’ ministers met on Sunday. “I hope the two sides can reach an [ More … ]
OPEC agreed on Wednesday modest oil output cuts in the first such deal since 2008, with the group’s leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices. “OPEC [ More … ]
The world’s largest oil exporter, Saudi Arabia, records high levels of crude, its oil exports rose in July to 7.622 million barrels per day from 7.456 million bpd in June, keeping the global market well [ More … ]
OPEC oil producing group is meeting in Vienna on Thursday but mounting tensions between the 13 members of the producer group – and the differing economic needs of each country – are expected to stymy [ More … ]
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