President Donald Trump's budget released Tuesday proposed radically downsizing the US Strategic Petroleum Reserve, arguing that America's shale boom has lessened the need for an emergency stockpile....
Oil producers inside and outside the OPEC cartel have little choice but to extend their deal from late 2016 curbing output when they meet in Vienna on Thursday, analysts say. Less predictable however...
Iraq has agreed to a nine-month extension of a production cut pact among OPEC members that is aimed at boosting crude prices, the country's oil minister said on Monday. "We are in agreement with the...
Energy shares led a broad rally across Asian markets on Monday as oil prices were boosted by growing hopes that an OPEC-led output cut will be extended by another nine months. With the deal agreed...
Saudi Arabia's energy minister expressed confidence on Sunday of extending a global cut in oil production designed to boost prices. Khalid al-Falih spoke ahead of a meeting on Thursday between the...
Russia is heavily dependent on oil exports and was hit hard when crude prices started to crash The country is recovering nicely from a recession and should see economic growth of 1.4% this year,...
American oil production is approaching record levels again, led by shale projects, potentially foiling efforts by OPEC to support prices. Oil prices were boosted this week after Saudi Arabia and...
Iran, the Middle East's second largest power by economy and population, is the Shiite Muslim rival of regional Sunni giant Saudi Arabia. Iran has the region's second largest economy after Saudi...
The world's biggest oil producers Russia and Saudi Arabia on Monday called for extending an output reduction deal ahead of an OPEC meeting later this month. "To underscore the determination of oil...
Most Asian markets turned lower Friday following a healthy run-up in the week, tracking a sell-off on Wall Street where a plunge in retail giant Macy's fanned concerns about the key US retail sector....
The oil price has fallen to a five-month low as investor concerns resurface about a worldwide glut. Brent crude dropped by more than $2 on Thursday to below $49 a barrel, hitting its lowest level...
Renewed fears about the oil supply glut have sent crude prices plunging 15% Renewed fears about the oil supply glut have sent crude prices plunging 15% from their peak in mid-April to $45.52 a barrel...
The recent increase in oil prices has helped BP to record a healthy profit for the three months to March. The $1.4bn (£1.1bn) profit, on the replacement cost measure, compared with a $485m loss a...
The price of OPEC basket of thirteen crudes stood at $49.26 a barrel on Monday, 1 May, 2017, compared with $49.32 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference...
Oil-exporting Arab states of the Gulf are heading "in the right direction" to plug budgetary gaps thanks to fiscal reforms, but more change is still necessary, the International Monetary Fund said...
US Ambassador to Ghana, Robert Jackson, says the US government is prepared to help Ghana meet its power needs in the near future. Speaking at an event to cut sod for the construction of a 400...
US Ambassador to Ghana, Robert Jackson, says the US government is prepared to help Ghana meet its power needs in the near future. Speaking at an event to cut sod for the construction of a 400...
Rising crude prices drove huge profits for US oil industry giants, but key figures in the sector have raised concerns about low investments in exploration and production. They warn that continued...
Saudi Arabia's energy minister said on Thursday that oil-producing countries might have to extend output cuts agreed for the first six months of the year in order to achieve the desired rebalancing...
Saudi Arabia's energy minister said on Thursday that oil-producing countries might have to extend output cuts agreed for the first six months of the year in order to achieve the desired rebalancing...
