Russia pumped 10.49 million barrels a day in December, down 29,000 barrels a day from November, while Saudi Arabia’s output declined to 10.46 million barrels a day from 10.72 million barrels a day in November, according to data published Monday ...

Deputy Crown Prince Mohammed bin Salman said Riyadh would raise the capital of its public investment fund to 7 trillion riyals ($2 trillion) from 600 billion riyals ($160 billion) and would sell up to five percent of shares in state ...

On Saturday January 16, the U.S. and the European Union lifted sanctions against Iran, Reuters reported. Iran, a member of the Organization of the Petroleum Exporting Countries (OPEC), said on Sunday that it is ready to increase exports by 500,000 ...

On Thursday, U.S. and Brent crude futures slumped to new 12-year lows, taking this year’s losses to more than 20 percent, the worst two-week decline since the 2008 financial crisis, Reuters reports. Brent futures for March delivery fell $1.94 to ...

January 12, crude oil fell 3 percent to near $30 per barrel and levels not seen in over a decade, with analysts scrambling to cut their price forecasts and traders betting on further declines, Joinfo.ua reports with reference to Reuters. ...