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Saudi Arabia and Russia signed an oil deal - but what does it mean?
OPEC fails to agree on limiting output, denies it is 'dead'
OPEC has failed to agree on limiting output which would have boosted the price of crude but Saudi Arabia promised not to flood the oil market with extra barrels.
IEA oil forecast brightens
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.
Cheap oil and the music industry's digital revolution
In this edition of Business Line we look in depth at the major oil producers attempts to stop prices falling and why they failed, plus the good news for the music industry from the digital revolution.
Disappointment over oil supply cap failure pushes crude prices down
Oil prices drop as Iran still not part of production freeze
Oil prices continue to be pulled down by the lack of a deal between OPEC and other countries to freeze production.
OPEC oil output cut very unlikely at June meeting, Iran's situation unclear
OPEC is very unlikely to cut oil output at its next meeting in June, even if crude prices remain extremely low, according to OPEC sources and delegates
Iran cool on oil production freeze plan
Iran has said it supports in principle the freezing of oil production but stopped short of offering to limit its output in response to a Saudi and Russian proposal aimed at pushing up prices.
Saudi Arabia and Russia agree oil output freeze but only if others do the same
Saudi Arabia, Russia, Venezuela and Qatar have agreed to freeze their country's oil output, but only if other major producers do the same. There will now be talks with Iran and Iraq.
International Energy Agency says oil glut is poised to worsen
The International Energy Agency thinks oil prices won't rise significantly this year as declines in US output take time and OPEC is unlikely to agree with other producers to cut output.
Oil price slump hits BP and Exxon
The bad news keeps pouring out of the oil industry. BP suffered its biggest loss in 20 years and Exxon Mobil has reported its smallest quarterly profit in more than a decade.
Russia to talk to OPEC about pumping less oil to boost prices
Russian Energy Minister Alexander Novak has confirmed that Saudi Arabia had proposed oil producing countries cut production by up to 5 percent each in order to support weak oil prices.
Hopes of a supply cut deal push up oil prices
Crude prices rose on Tuesday on hopes that OPEC and non-OPEC producers may be edging closer to a deal to pump less oil and address a supply glut.
UK oil giant BP cuts jobs
UK oil company BP is set to pay the price for plummeting prices. It has announced it is to shed 4,000 jobs globally, 600 of which will be lost from
Calls for an emergency meeting of OPEC countries as oil prices slip
Volatile trading in oil has prompted calls for an emergency meeting of the Organisation of the Petroleum Exporting Countries. Benchmark Brent crude
Oil prices tumble again to near 11-year low
Oil prices tumbled four percent on Monday, coming close to their 11-year low – amid fears that the global surplus could worsen in the coming months
OPEC crude oil output rises to three-year high
Unfazed by tumbling prices, undeterred by low demand, OPEC raised its production of crude oil to a three-year high in November. Failure to agree a
UAE Energy Minister Suhail Al Mazroui: "We will not rely on oil"
Faced with the challenge of a declining oil market The United Arab Emirates, a major crude producer in the Gulf is striving to diversify its economy
Brent crude oil dips below $40 a barrel for first time since 2009
US crude fell below $37 (34 euros) a barrel on Tuesday, and Brent below $40 (36.7 euros) for the first time since early 2009. Oil prices then
OPEC: After the latest acrimonious meeting, where now for oil prices?
On Business Middle East this week we analyse the repercussions of the latest OPEC meeting decision. According to analysts it’s clear from the meeting
Saudi-led OPEC policy 'targets shale oil producers'
OPEC’s failure to agree new limits on oil production regardless of demand and tumbling prices is seen by some as a deliberate move to send rival
Oil output to stay high as OPEC fails to agree ceiling
OPEC countries are to carry on producing current high levels of oil for the time being. This comes despite complaints that the huge global surplus is
Energy markets fall as reports say OPEC to maintain output policy
Energy markets fell following unconfirmed reports that OPEC has kept its policy of pumping near-record volumes of oil. Anonymous sources quoted by
Saudi Arabia unfazed as OPEC set to keep oil output high
OPEC members have been meeting in Vienna with the oil producers’ organisation widely expected to do nothing to tackle one of the worst crude gluts in
Saudi Arabia hints it may back oil output cut - if others do too
Are there more signs of a chink in the Saudi armour over oil production? OPEC’s effective leader has been softening its stance against cutting
OPEC 'set to keep pumping oil' despite global glut
OPEC is determined to keep pumping oil despite the financial consequences on the policy’s main architect Saudi Arabia, according to Reuters. The news
IEA says oil glut could worsen through 2016
The International Energy Agency has estimated that slowing demand growth – as well as resilient non-OPEC supply – could worsen the oil surplus well