The Costa Rica-sized area is home to the world’s largest oil reserves and about half of Venezuela’s current production. Saudi Arabia’s agreement with Russia to cap oil production was a Continue Reading
OPEC pumped less crude in February amid efforts by big oil producers to negotiate a deal that would limit oil output and raise prices, the group said on Monday, pointing Continue Reading
Big oil producers have been negotiating for weeks on a deal to limit crude output in the hope of raising oil prices. Now their talks are hitting obstacles. Countries including Continue Reading
OPEC on Monday predicted global demand for its crude oil will be less than previously thought in 2016 as supply from rivals proves more resilient to low prices, increasing the Continue Reading
Iran output rises 187,800 b/d to 3.13 million b/d in February Iranian oil production climbed last month by the most in almost two decades following the end of international sanctions, Continue Reading
The top of the oil market may be closer than you think. With Brent futures having bounced back as high as $41 a barrel, the International Energy Agency sees “ Continue Reading
The Russian Ministry of Defense said its warplanes began redeploying from Syria on Tuesday, after a surprise announcement by Russian President Vladimir Putin that Moscow would withdraw the bulk of Continue Reading
Photo Russian pilots climbing into a fighter jet at the Hemeimeem air base in Syria in October. Credit Vladimir Isachenkov/Associated Press MOSCOW — President Vladimir V. Putin of Russia on Continue Reading
Oil production under federal control in Kirkuk is likely being intentionally kept from export, days after the Iraq-Turkey Pipeline (ITP) reopened, in an escalation of the long-standing but ever-evolving dispute Continue Reading
A global deal to freeze oil production could be signed in April and exclude Iran, which has the right to boost output after years of sanctions, Russian energy minister Alexander Continue Reading
