OPEC

Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman on Friday discussed OPEC+ decision to cut oil production, in a phone talk on Friday. "The issues related...

Russian President Vladimir Putin, US President Donald Trump and Saudi Arabia's King Salman, discussed the OPEC+ oil group meeting in a phone call on Friday and confirmed their aim...

The United States must pull out all of its troops and military forces from Saudi Arabia if the Kingdom refuses to lower its oil output and resolve the oil...

Oil futures rose in electronic trade early today as investors awaited the outcome of a crucial meeting of the Organisation of the Petroleum Exporting Countries (OPEC) and its allies...

Giant oil tankers have changed into floating warehouses for oil following the sharp drop in the price per barrel. The dispute between Russia and Saudi Arabia has led to...

Iran does not agree with holding any OPEC+ meeting in the absence of a clear proposal and expected outcomes from such talks, its oil minister has said. "The vague...

Oil prices fell today after Saudi Arabia and Russia postponed a meeting to discuss production cuts that might help reduce oversupply in global markets. This comes at a time...

US President Donald Trump yesterday said he would be willing to impose a tax on foreign oil should Saudi Arabia and Russia fail to reach a settlement in their...

Increasing oil production will not serve the interests of any country, Russia warned yesterday, stressing that Russian President Vladimir Putin was seeking "constructive negotiations aimed at stabilising the global...

OPEC and Russia have postponed a Monday meeting to discuss oil output cuts until April 9, OPEC sources said on Saturday, as a dispute between Moscow and Saudi Arabia...

President Vladimir Putin said on Friday Russia was ready for deep oil production cuts with the United States and OPEC, but firmly put the blame for the collapse in...

Saudi Arabia yesterday called for an urgent meeting of the OPEC+ oil producers with the "aim of seeking a fair agreement that will restore the desired balance to the...

Saudi Arabia has denied making any contact with Russia with the intention of balancing the oil market amidst the massive global price fall, RT reported on Friday. In a...

A group of US Senators from the ruling Republican Party have urged Saudi Arabia to leave the Organisation of Petroleum-Exporting Countries (OPEC), claiming that the kingdom along with Russia...

Yesterday Kuwait announced a government reduction in the country's energy sector's operating spending, due to the oil price collapse recently caused by the coronavirus outbreak. The CEO of the...

US Secretary of State Mike Pompeo has expressed concerns over instability in the global oil market in a call with Saudi Crown Prince Mohammed Bin Salman. The Saudis triggered...

US President Donald Trump has appointed a special energy envoy to Saudi Arabia, as the global oil industry confronts what analysts say is the worst crisis for the industry...

Forging an oil alliance between the United States and OPEC's top producer Saudi Arabia is one of "many, many ideas" being floated by US policymakers but it is uncertain...

Russia never sought a sharp oil price fall or an end to cooperation with the Organisation of Petroleum Exporting Countries (OPEC), and the Gulf nations are to blame for...

The United States believes Saudi Arabia's flooding of oil markets compounds the coronavirus-caused global economic crash and intends to send a senior official to Riyadh for months to boost...

The Saudi government has announced a cut of 50 billion Saudi riyals ($13.2 billion) to its 2020 state budget, following an unprecedented sharp plunge in oil prices. Finance and Economy...

Russia does not have any immediate plans for any contacts with the leadership of Saudi Arabia over the global oil strategy, Kremlin spokesperson, Dmitry Peskov, announced yesterday. Peskov told...

The UAE Minister of Energy and Industry, Suhail Al Mazroui, said yesterday that his country believes that a new agreement to reduce oil production is a necessary step to...

Saudi Arabia has been sharply rebuked by the head of the International Energy Agency over its decision to flood the oil market and start a price war with global...

The Kremlin said yesterday that it has not ruled out the possibility of resuming talks with Saudi Arabia, OPEC's largest oil producer, to stabilise global energy markets. Kremlin spokesman,...

Saudi Arabia, the world's top oil exporter, plans to raise its crude oil production to 12.3 million barrels per day (bpd) next month marking a dramatic escalation in its...

Oil prices have plunged to levels not seen in years. They are the lowest since 2016, but a crash of this size and nature has not been seen in...

Credit rating agency Fitch said yesterday that the collapse of oil prices will put pressure on the financial revenues of the Gulf Cooperation Council (GCC) countries. Fitch senior sovereign...

Saudi Arabia must coordinate on oil prices to avoid economic disruption to other countries, France's Minister of the Economy and Finance, Bruno Le Maire, said yesterday. Oil prices plunged by more...

Plunging oil prices have increased the urgency for Algeria to reform its economy, politicians and business leaders said on Monday. Energy Minister Mohamed Arkab said the country had been...

Saudi Aramco shares fell ten per cent this morning after Saudi Arabia slashed its official selling prices for crude and set out plans for a dramatic increase in oil...

Saudi Arabia, the world's top oil exporter, plans to raise its crude oil production significantly above 10 million barrels per day (bpd) in April, after the collapse of the OPEC...