Saudi Aramco's head Amin Nasser says low prices mean cash-strapped energy companies are not investing risking shortages of oil and gas in the future.
Russia's President Putin says it is ready to join a proposed freeze of oil output by OPEC members but did not say at what level it would cap output.
Oil producers in the OPEC cartel have agreed they need to cut production to address a supply glut and lift prices - but the devil is in the details.
OPEC has agreed to cut its oil output for the first time since 2008.
Saudia Arabia has softened its stance on Iran pumping more oil, but an OPEC deal to freeze output remains elusive.
In this edition of Business Line we look at the chances of OPEC and non-member producers, including Russia, reaching an agreement on limiting oil production.
Oil prices jumped on Monday after Venezuela's President Nicolas Maduro said OPEC and non-OPEC countries are close to reaching a deal to stabilise markets.
Madagascar is on the verge of an oil and gas revolution, but how will it develop these new sectors of the economy for the benefit of all without ruining the environment?
Oil prices were down again on Tuesday following pessimistic predictions about the growth in demand from the International Energy Agency.
The internationally-recognised Libyan government’s loss of key oil facilities to forces loyal to the eastern administration and General Kalifa Haftar is a potentially serious blow that could starve Tr
Monday was a rough day for the world's financial markets amid fears that the Federal Reserve could raise interest rates again as early as next week.
Saudi Arabia and Russia have agreed to cooperate over oil, with a task force to recommend measures and actions, but no immediate action by the world's two top producers.
A freeze of oil output by major producers is looking more likely as Saudi Arabia signals a change in approach ahead of an OPEC meeting in Algeria later this month.
The sliding price of crude has again hit the profits of Sinopec - the state-controlled China Petroleum and Chemical Corporation.
The biggest Norwegian offshore oil project in decades is going to be cheaper and more productive according to energy firm Statoil.
Oil prices have slipped amid fading hopes of an agreement to limit production even with the market being hugely oversupplied.
Crude oil prices have slipped back after hitting an eight-week high following their longest run of gains in four years in the belief that a limit on output will not be agreed by producers.
As many as 120,000 workers will have lost their jobs in Britain's oil and gas sector by the end of the year, according to the industry's lobby group.
Oil prices have hit their highest in 10 months due to a fall in stockpiles in the United States and supply disruptions in Canada, Nigeria, Venezuela and Libya.
Rosneft's quarterly net profit fell by 75 percent as crude oil prices declined, but Russia's top oil producer also blamed heavy investment in the period.
Royal Dutch Shell is to end oil and gas operations in up to 10 countries as it further reduces spending after the purchase of BG Group.
Russia's Lukoil has said its profits in the first three months of this year were down by 59 percent as oil prices fell to a 12-year low and its output declined.
The boss of French energy firm Total has warned it will "seriously reconsider" its future investment plans in France due to the strikes at its refineries against labour law reform.
France is on the brink of an unprecedented social and economic crisis.
Pedro Parente, the new boss of Brazil's scandal-ridden state-controlled energy firm Petrobras, has been talking about the challenges ahead.
Rival Libyan factions have reached an outline agreement to join forces and form a single oil authority operating throughout the country.
Oil prices jumped to their highest in six months after forecasters at Goldman Sachs said the world now has a deficit rather than a glut of crude.
The International Energy Agency is no longer so concerned about the oil market "drowning in supply" this year and says unplanned disruptions to output could help run down the global glut of crude.