The June ICE Brent/NYMEX WTI spread settled $1.02 wider at $8.13/barrel Friday after hitting a one-month high early in the session amid ongoing fighting in Yemen and bearish supply pressure in the US.
Recruitment of new employees for oil and gas companies outside the Gulf region has slowed down, but businesses in the UAE and the rest of the Middle East continue to push forward with hiring, a new report reveals.
Venezuelan Foreign Minister Delcy Elonia Rodriguez Gomez announced that she had conferred on oil and energy policies with Iranian officials during his Monday visit to Tehran.
The Cabinet has decided to postpone the hike in energy prices, scheduled for July, due to the worldwide decline in prices of oil, Petroleum Minister Sherif Ismail said.
Russia has been holding active, "unprecedented" consultations with the Organization of Petroleum Exporting Countries, a senior official said on Wednesday, a clear signal of Moscow's strive for higher oil prices.
Lukoil will likely pull out from Saudi Arabia where the economics of its search for gas have been crushed by the collapse of the oil price, three industry sources said.