Eastern forces loyal to commander Khalifa Haftar have launched a military operation in southern Libya to secure oil and gas facilities and fight extremists, a spokesman said on Tuesday,...

Iranian Oil Minister Bijan Zanganeh said today US sanctions against his country were “fully illegal” and Tehran would not comply with them, Reuters reported. “We believe that we should...

Iraq has announced it will reduce its oil production by three per cent, in line with OPEC’s decision to limit output. Iraqi Oil Minister Thamer Al-Ghadban said yesterday that...

Algerian Energy Minister said that OPEC and non-OPEC producers will again reduce oil production if necessary during their meeting in April 2019. Speaking at a press conference in the...

The Organisation of the Petroleum Exporting Countries (OPEC) yesterday announced that its crude production dropped by 11,000 barrels per day (bpd) in November. In a monthly report, OPEC said...

A general cooperation agreement between OPEC and non-OPEC countries will be signed in three months’ time in Saudi Arabia, the UAE’s energy minister said on Monday, reports Reuters. “By...

A Gulf Arab summit called for regional unity as Bahrain and Qatar traded barbs over the Qatari emir’s decision not to attend the gathering in Saudi Arabia on Sunday...

OPEC and its allies announced on Friday cuts in crude output of 1.2 million barrels per day (bpd) to balance the global oil market. Members agreed the group will...

Iran gave OPEC the green light today to reduce oil output by around 0.8 million barrels per day from 2019 after finding a compromise with rival Saudi Arabia over a...

Saudi Arabia said Thursday it is unsure if a deal will be reached with fellow OPEC members on oil output cuts. After the conclusion of the 175th meeting of the...

The decision by the State of Qatar to leave the Organisation of the Petroleum Exporting Countries (OPEC) by January 2019 has raised eyebrows and set off speculation as to...

Iran will not discuss its production quota in the Organisation of Petroleum Exporting Countries (OPEC) as long as US sanctions are imposed on it, the Iranian oil minister said...

Saudi Energy Minister Khalid al-Falih met with US special representative for Iran Brian Hook in Vienna on Wednesday, sources familiar with the meeting said, reports Reuters. Hook, a senior...

  Qatar has announced that is withdrawing from OPEC in January, ending a near-six decade long membership of the oil price cartel. The emirates’ oil minister, Saad Sherida Al-Kaabi,...

Saudi Crown Prince Mohammed bin Salman arrived in Algeria on Sunday from Mauritania, resuming a tour of Arab countries after attending the G20 summit in Argentina, Reuters reports. Prime Minister...

Iraqi security forces yesterday prevented dozens of demonstrators from storming the major oilfield of West Qurna 2 in the country’s southern province of Basra. “Dozens of unemployed demonstrators attempted...

Saudi Arabia’s energy minister, Khalid al-Falih, must play a bad hand of cards as well as he can at next week’s meeting of OPEC and non-OPEC oil producers in...

The Organization of the Petroleum Exporting Countries has been marginalised as critical decisions about the oil market are taken by a troika of the United States, Russia and Saudi...

Australia will consider recognising Jerusalem as Israel’s capital and shifting its embassy there from Tel Aviv, Australia’s Prime Minister said on Tuesday, Reuters reports. The status of Jerusalem is one...

Hedge fund managers have continued to take profits on their bullish positions in crude oil as the late summer rally has faded and fears about oil consumption and the...

Saudi Arabia and its allies are not expected to make any major political decisions at the meeting of the Organisation of the Petroleum Exporting Countries (OPEC) this weekend. However,...

OPEC’s leader Saudi Arabia and its biggest oil-producer ally outside the group, Russia, ruled out on Sunday any immediate, additional increase in crude output, effectively rebuffing US President Donald...

Algerian President Abdelaziz Bouteflika has been dismissing generals to tighten his grip on power ahead of him possibly seeking re-election next year and to diminish the power of the...

About 150 protesters gathered at the main entrance to Iraq’s giant Nahr Bin Omar oilfield in the southern oil hub of Basra on Sunday, police said, amid growing unrest in...

Reuters news agency has reported that Saudi Arabia has scrapped plans to list shares of the state-owned energy giant Aramco on international stock exchanges. The report further alleges that it...

Iranian Oil Minister Bijan Zanganeh said some members of oil producer group OPEC were acting in accordance with US policies, Iran’s Khaneye Mellat news agency reported on Friday. “Some members...

A senior Iranian diplomat urged OPEC’s secretary general to keep the group away from the political agenda of some members and said none should be allowed to take over another’s...

The shift in oil market power away from OPEC towards a bilateral relationship between Saudi Arabia and Russia is the culmination of structural changes in oil production over the...

Oil prices decreased yesterday after OPEC production was raised. September Brent crude futures fell by seven cents to reach $74.90 a barrel at 01:09 GMT after rising 68 cents,...

Senior Iranian officials on Tuesday rejected US President Donald Trump’s offer of talks without preconditions as worthless and “a humiliation” after he acted to reimpose sanctions on Tehran following his...

Iran’s supreme leader on Saturday backed President Hassan Rouhani’s suggestion that Iran may block Gulf oil exports if its own exports are stopped, according to his official website. “(Ayatollah...

In the light of retreat of consumption and increasing produce by its competitors, OPEC yesterday said it expects a decrease in international demand for its oil in 2019, RT...