Iranian Oil Minister Bijan Zanganeh said on Saturday frequent US comments about oil prices had created market tensions, the ministry’s news website SHANA and Reuters reported. US President Donald...

A Democratic US senator and his Republican counterpart on Friday asked Congress’ investigative arm to probe Trump administration talks with Saudi Arabia over sharing nuclear power technology, Reuters reports....

Oil prices increased on Thursday amid OPEC-led supply cuts and the US sanctions on Venezuela and Iran, the two main petroleum exporting countries. However, price gains were limited due...

For a proposed statute still at the first stage of the legislative process, with only a handful of sponsors in the US Congress, the “No Oil Producing and Exporting...

Saudi Energy Minister Khalid al-Falih said on Wednesday that OPEC and its partners were “taking it easy”, in response to a tweet from US President Donald Trump requesting that...

US President Donald Trump expressed on Monday his concern over rising oil prices, criticising the Organization of the Petroleum Exporting Countries (OPEC). “Oil prices getting too high. OPEC, please...

Saudi Arabia has resumed its traditional role as the swing producer, sharply reducing its output to tighten the oil market and push prices higher, Reuters reports. The de facto OPEC...

Iran has become self-sufficient in gasoline production, Iranian Oil Minister Bijan Zanganeh said on Monday after the inauguration of the third phase of the Persian Gulf Star Refinery in...

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...