Venezuela and Saudi Arabia are coordinating joint action to recover oil prices, which fell 50% last year, and stabilise global oil markets, Venezuelan Minister of Economy and Finance and Public Banks Rodolfo Marco To ...
Iran and Venezuela vowed Saturday to work together to stabilize falling global oil prices as Iran’s supreme leader accused “enemies” of using crude prices as a political weapon.
Saudi Arabia will probably offer smaller discounts to ship crude to Asia amid speculation demand will increase after benchmark prices dropped almost 50 percent last year.
Falling world oil prices will hurt countries across the Middle East unless Saudi Arabia, the world's biggest crude exporter, takes action to reverse the slump, Iran's deputy foreign minister told Reuters.
Members of the Organization of Petroleum Exporting Countries will hold their first meeting of the year next week and, following steep declines in oil prices and ahead of European Union sanctions on Iran, they should ...
Oil markets are better-supplied for the first time since 2009 as ''sluggish'' demand and OPEC output at more than a three-year peak eased inventory depletion, according to the International Energy Agency.
The president of the Organization of Petroleum Exporting Countries, OPEC, said Monday the organization is producing enough crude oil, and political situations are to blame for the current high oil prices.
Saudi Arabia has nominated its candidate to succeed the current head of the Organization Petroleum Exporting Countries, Gulf oil sources said Tuesday, potentially reviving a scramble for influence within the producer ...