Now playing Next World What will prompt Gulf energy companies to merge post-pandemic? Worldwide lockdowns, shrinking demand and a supply glut have sent shockwaves through the oil & gas sector, plus oil-reliant economies in the Middle East. 12/06/2020
Now playing Next world news OPEC, oil nations agree to unprecedented production deal to cut output Oil-producing nations on Sunday finalised an unprecedented production cut of nearly 10 million barrels, or a tenth of global supply, in hopes of boosting crashing prices amid the coronavirus pandemic. 12/04/2020
Now playing Next View Libya’s fragile economic gains thwarted by the unnecessary war ǀ View When the internationally-recognized Government of National Accord (GNA) was formed in Libya in December 2015, it was facing an enormous amount of work to restore the country’s social fabric and rebuild its devastated economic structures. 06/06/2019
Now playing Next USA Trump: Saudi king would not last 'two weeks' without US support US President Trump said Saudi Arabia's King Salman would not last "two weeks" in power without US military backing. 03/10/2018
Now playing Next Saudi Arabia Saudi Arabia ready to increase oil output The leader of Saudi Arabia promised President Donald Trump that he can boost oil production if needed and the country has 2 million barrels per day of spare capacity available. 01/07/2018
Now playing Next Business OPEC and Russia agree to extend oil cut OPEC and Russia have agreed to extend oil production cuts until the end of 2018. The move extends an existing deal between the oil producers to 30/11/2017
Now playing Next Business Oil prices jump as biggest producers plan to extend output cuts Saudi Arabia and Russia have agreed to pump less through until March 2018 to further cut the huge amount of oil in storage around the world. 15/05/2017
Now playing Next Business Oil stabilises, stocks rise on Macron confidence Oil prices have been on a roller coaster ride from oversupply worries, strong opinion poll numbers for French centrist Macron boosted share prices. 05/05/2017
Now playing Next Business OIl producers mull over extending output cut OPEC and non-OPEC oil producers discuss production cut extension 27/03/2017
Now playing Next World 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. 14/03/2017
Now playing Next Business Saudi Arabia's oil price target revealed Saudi Arabia reportedly wants crude oil to rise to around $60 a barrel this year to encourage new investment but not boost US shale oil output. 28/02/2017
Now playing Next Business OPEC producers really are pumping less, boosting crude prices Oil prices jump on word that OPEC producers have achieved over 90 percent of the output cuts they had pledged. 10/02/2017
Now playing Next Business Oil prices hit 18-month high on production cut hopes Oil prices hit their highest in 18 months on hopes the deal between OPEC and non-OPEC members to cut production will reduce a glut of crude. 03/01/2017
Now playing Next Business Line OPEC and Russia oil cut deals promise to address supply glut Business Line considers the details of the agreements reached by oil producers from OPEC and other countries to cut output. Will it boost oil prices? 14/12/2016
Now playing Next Business Russia signs oil development deals with Iran Russia is moving forward with its plans to become a major investor in Iran through initial agreements covering various industries, particularly oil. 13/12/2016
Now playing Next Business Oil demand set to rise says International Energy Agency Global oil demand will rise more strongly than expected in 2016 and 2017 the International Energy Agency has said. 13/12/2016
Now playing Next Business Oil prices spike on promises to pump less Oil hit an 18-month high after OPEC and some of its rivals agreed to jointly reduce output to try to tackle global oversupply and boost prices. 12/12/2016
Now playing Next Business Oil extends gains ahead of OPEC talks Oil prices extended gains for a second session running on Friday – fuelled by optimism that non-OPEC producers will agree to reduce output following a cartel agreement to limit… 09/12/2016
Now playing Next Business Oil hits high for the year Brent goes through 54$, WTI 51$, oil hitting year highs 01/12/2016
Now playing Next Business OPEC agrees first production cut in eight years OPEC gets its act together in first co-ordinated action in ages and agrees production cut, but analysts say no oil price shock is on the cards. 30/11/2016
Now playing Next Business Oil falls again, dragging down dollar The oil price continues to fall on doubts OPEC will agree production cuts. 28/11/2016
Now playing Next Business Oil prices surge up on output cut hopes Oil prices rose to three-week highs on Monday amid expectations that OPEC is moving close to a deal to cut output when it meets next week. 21/11/2016
Now playing Next Business Optimism rises over OPEC oil freeze deal, Russia pledges to join in 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. 10/10/2016
Now playing Next Business Scepticism mounts over OPEC production cut move 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. 29/09/2016
Now playing Next Business Oil prices rise after OPEC announces first output cut since 2008 OPEC has agreed to cut its oil output for the first time since 2008. 29/09/2016
Now playing Next Business Oil output freeze deal now seen more likely in November Saudia Arabia has softened its stance on Iran pumping more oil, but an OPEC deal to freeze output remains elusive. 28/09/2016
