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Economy

OIl producers mull over extending output cut

OPEC and non-OPEC oil producers discuss production cut extension

World News

EU Parliament rejects total ban on Arctic oil drilling

European Parliament lawmakers voted against a non-binding motion to prohibit oil and gas exploration in the Arctic

Economy

Oil price falls to new 2017 low

Oil prices have tumbled following an OPEC report that stocks are rising worldwide, despite an agreement to reduce output to try to push up prices.

Markets

Repsol's Alaska oil find enough to supply Spain for four years

Spanish energy firm Repsol's shares jumped after it announced it has found a field with enough crude to supply all of needs of Spain for four years.

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Economy

Saudi Arabia's oil price target revealed

Saudi Arabia reportedly wants crude oil to rise to around $60 a barrel this year to encourage new investment but not boost US shale oil output.

Business Series

Saudi state oil company takes significant stake in Malaysia refinery

Saudi Arabia's state oil company Saudi Aramco is to invest $7 billion in an oil refinery and petrochemical project in southern Malaysia.

Markets

OPEC producers really are pumping less, boosting crude prices

Oil prices jump on word that OPEC producers have achieved over 90 percent of the output cuts they had pledged.

Markets

BP's spending spree means a need for higher crude prices

British oil and gas company BP has said it needs crude oil to be selling for $60 a barrel by the end of the year for it to break even.

USA

Greenpeace take over crane near White House to display "Resist" message

A crane on a construction site overlooking the White House in Washington D.C. has been taken over by Greenpeace to display a banner with the message "Resist".

USA

Trump accelerates controversial Keystone and Dakota pipelines

Not one to shy away from a challenge, US President Donald Trump has signed executive orders to accelerate two controversial pipeline projects.

Brazil

Judge in Brazil graft probe dies in plane crash

Teori Zavascki's death raises questions over who will take over the country's biggest corruption case.

Markets

Oil prices hit 18-month high on production cut hopes

Oil prices hit their highest in 18 months on hopes the deal between OPEC and non-OPEC members to cut production will reduce a glut of crude.

Mexico

Protests greet 20% petrol price hike in Mexico

Mexico's energy reforms have started to bite with a 20 percent rise at the petrol pumps and angry consumers have been protesting.

USA

Obama bans new oil and gas drilling in US Arctic and Atlantic waters

The outgoing president has used an old law to try to protect the regions permanently from exploration, before Donald Trump takes office.

Business Line

OPEC and Russia oil cut deals promise to address supply glut

Business Line considers the details of the agreements reached by oil producers from OPEC and other countries to cut output. Will it boost oil prices?

Economy

Russia signs oil development deals with Iran

Russia is moving forward with its plans to become a major investor in Iran through initial agreements covering various industries, particularly oil.

Economy

Oil demand set to rise says International Energy Agency

Global oil demand will rise more strongly than expected in 2016 and 2017 the International Energy Agency has said.

Markets

Oil prices spike on promises to pump less

Oil hit an 18-month high after OPEC and some of its rivals agreed to jointly reduce output to try to tackle global oversupply and boost prices.

Economy

Oil extends gains ahead of OPEC talks

Oil prices extended gains for a second session running on Friday – fuelled by optimism that non-OPEC producers will agree to reduce output following a cartel agreement to limit…

Business Series

Russia sells stake in oil giant Rosneft

Qatar and commodities trader Glencore have bought a stake in Russia's giant oil firm Rosneft.