Iraq, OPEC’s second-largest producer, raised the selling price for February shipments to Asia of its main Basrah Light crude by 30 cents a barrel, after Saudi Arabia boosted its pricing to the region.
Egypt, struggling to meet domestic energy demand, has asked Russia to help it fulfil its gas supply contracts with Europe, Russia's Energy Minister was quoted as saying on Saturday.
Iran struck a combative tone Thursday in its confrontation with the West over the nuclear issue, threatening to terminate oil exports to European nations even before their embargo takes effect this summer.