OPEC

Iran criticised a US request that Saudi Arabia pump more oil to cover a drop in Iranian exports and predicted OPEC would not heed the appeal, setting the stage...

A day before US President Donald Trump withdrew from the Iran nuclear deal, one of his senior officials phoned Saudi Arabia to ask the world's largest oil exporter to help keep...

The US government has asked Saudi Arabia and a number of other OPEC members to increase their production by around one million barrels a day, Bloomberg reported yesterday, citing...

Saudi Arabia and Russia are discussing raising OPEC and non-OPEC oil production by some 1 million barrels a day, sources said, weeks after US President Donald Trump complained about...

Iranian Oil Minister Bijan Zanganeh said on Saturday that US President Donald Trump's decision to quit a multinational nuclear deal would not affect Tehran's oil exports if the EU...

Oil prices hit a three-and-a-half-year high yesterday supported by tight supply as well as renewed US sanctions against Iran that are likely to disrupt crude oil exports from one...

The United States and Saudi Arabia seem to have an understanding to keep the oil market well supplied and avoid a significant price rise after the US re-imposition of...

President Donald Trump on Tuesday pulled the United States out of an international nuclear deal with Iran, raising the risk of conflict in the Middle East, upsetting European allies...

The U.S. President, Donald Trump, slammed the Organization of the Petroleum Exporting Countries (OPEC) on Friday, complaining the cartel was keeping crude oil prices high. "Looks like OPEC is...

OPEC members will need to continue coordinating with Russia and other non-OPEC oil-producing countries on supply curbs in 2019 to reduce global oil inventories to desired levels, Saudi Arabian...

The prime minister of Kurdistan Regional Government, Nechirvan Barzani, has said that his government will not hand over the Iraqi region's oil to the federal government in Baghdad, contrary...

The share of Saudi Arabia's exports of refined oil products steadily rose throughout 2017, offsetting a drop in overseas crude oil sales as the kingdom complied with a global...

Saudi Arabia will be overtaken by the US as the world's leading energy producer in the next twelve months according to the latest monthly report from the International Energy...

Iraq's oil output capacity is nearing 5 million barrels per day (bpd), but the country will remain in full compliance with its output target under a global pact to...

The members of the Organisation of the Petroleum Exporting Countries (OPEC) agreed yesterday to extend the current cut in oil production until the end of 2018. The agreement was...

The agreement to reduce oil production which was agreed by members of the Organisation of Petroleum Exporting Countries (OPEC) one year ago "is moving on the right direction", the...

Iraq will invite foreign energy firms to bid for the exploration and development of nine new oil and gas blocks bordering Iran and Kuwait, the oil ministry said in...

Iraq has increased oil export capacity from its southern ports by 900,000 barrels per day (bpd) to 4.6 million bpd after adding a new floating terminal in the Gulf,...

Smoothly exiting from the current output pact, and perhaps replacing it with another agreement, has become the most important policy question for the Organization of the Petroleum Exporting Countries...

The global oil market is improving and stabilising, Saudi Oil Minister Khalid al-Falih said in Baghdad on Saturday. In a speech at the opening of the Baghdad International Exhibition,...

Saudi Arabia is currently investing over $1 billion in over 20 Russian projects including the construction of a petrochemical complex and Pulkovo Airport in St Petersburg, Russian Energy Minister...

Russian President Vladimir Putin has called to extend the agreement between the Organisation of Petroleum Exporting Countries (OPEC) and independent producers to cut oil production till the end of...

Iraqi Oil Minister Jabbar Al-Luaibi yesterday denied his country's failure to respect its commitment to the reduced oil production quota set by the Organisation of Petroleum Exporting Countries (OPEC)....

The Japanese embassy in Baghdad announced today that Tokyo will lend the Iraqi government $270 million to help it improve its financial position. "The amount is aimed at improving...

OPEC will discuss at a meeting in November whether to extend or end production cuts, Kuwait's oil minister Essam al-Marzouq told Kuwait TV on Monday. "At our next meeting...

Japan has agreed to lend Iraq up to $195 million for a project to help repair a thermal power station in the southern province of Basra, an Iraqi government statement said on...

Iraqi and Iranian governments yesterday agreed to start joint investment in two oil fields located on the borders between the two countries, the Anadolu Agency reported. The Iraqi Oil...

The Kuwaiti oil minister said on Friday that compliance by oil producers with a global pact on reducing crude supplies was "good and offers hope", state news agency KUNA...

Saudi Arabia will cut crude oil exports in August by more than 600,000 barrels per day to meet growing domestic demands while staying within its OPEC production commitment. "There...

Iraq's oil ministry said Sunday it had begun drilling the first well in the Huwaiza oil field near the Iranian border, which may contain one billion barrels in reserves....

Algerian President Abdelaziz Bouteflika on Wednesday ordered his government to keep reducing imports and to rationalise spending to cope with a sharp fall in oil and gas earnings, but...

The ongoing blockade of Qatar led by Saudi Arabia, the United Arab Emirates (UAE), Bahrain and Egypt has exposed the harshness of Middle Eastern politics. How did the situation...