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 ...
The Organization of Petroleum Exporting Countries kept its forecast for 2012 oil demand unchanged, while warning that Europe's debt crisis could harm global consumption.
Prime Minister Dr. Kamal El Ganzoury meets on 24/12/2011 with Arab Ministers of Energy and Petroleum participants in the activities of the 85th meeting of the Council of Ministers of the Organization of Arab Petroleu ...
Brent crude fell to near $106 a barrel Monday as Libyan rebels captured most of the country's capital, boosting hopes the OPEC nation's oil exports could resume soon.