OPEC

Brent oil breaks above $50 for first time in seven months
Business

Brent oil breaks above $50 for first time in seven months

Brent oil futures climbed above $50 a barrel on Thursday for the first time in nearly seven months as a…
Iran-Saudi row threatens any OPEC deal, puts role in question
Business

Iran-Saudi row threatens any OPEC deal, puts role in question

OPEC's thorniest dilemma of the past year - at least from a purely oil standpoint - is about to disappear.Less…
Oil falls after Iran dampens hopes for production freeze
Business

Oil falls after Iran dampens hopes for production freeze

Brent oil prices fell for a fourth consecutive session on Monday after Iran insisted it would not freeze crude output,…
Kuwait freedoms make austerity drive tricky for government
Business

Kuwait freedoms make austerity drive tricky for government

A three-day strike by oil workers in Kuwait last month over pay reforms shows the government faces considerable opposition as…
Botched Doha deal undermines OPEC credibility, oil prices tumble
Business

Botched Doha deal undermines OPEC credibility, oil prices tumble

Oil prices tumbled on Monday after a meeting by major exporters in Qatar collapsed without an agreement to freeze output,…
Oil freeze deal faces trouble as Saudi-Iran tensions spike
Business

Oil freeze deal faces trouble as Saudi-Iran tensions spike

A spike in tensions between arch-rivals Saudi Arabia and Iran appeared on Sunday to ruin prospects of the first binding…
Iran will not attend Doha oil freeze talks on Sunday: sources
Business

Iran will not attend Doha oil freeze talks on Sunday: sources

Iran will not attend a meeting between OPEC and non-OPEC member countries about freezing oil output levels scheduled for Doha,…
Oil hits 2016 high above US$42 on production and demand outlook
Business

Oil hits 2016 high above US$42 on production and demand outlook

Oil rose above US$42 a barrel on Friday, hitting its highest this year and extending a rally into a fourth…
OPEC watching Iran, Russia, unlikely to cut output in June
Business

OPEC watching Iran, Russia, unlikely to cut output in June

OPEC is very unlikely to cut output at its next meeting in June, even if prices remain extremely low, according…
Deepening default fears cast shadow over Venezuela’s oil flows
Business

Deepening default fears cast shadow over Venezuela’s oil flows

As Venezuela grows closer to exhausting nearly every means of paying its debt, some oil market participants are seriously pondering…
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