Spanish oil giant Repsol (REPYY) and its privately-held U.S. partner Armstrong Energy announced the find on Thursday, predicting production could begin as soon as 2021 and lead to as much as 120,000 barrels of output per day, Joinfo.com reports with ...

Arriving in Baghdad on an unannounced visit Monday, the US Defense Secretary Jim Mattis had planned to assess for himself the effort by US-backed Iraqi forces to expel “Islamic State” (IS) militants from their stronghold of western Mosul, according to ...

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 ...

Energy Minister Khalid al-Falih said output had fallen below 10 million barrels per day – more than it had promised as part of a global output cut deal between OPEC and non-OPEC producers, Reuters reports. Such levels were last seen ...

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 ...

Oil has risen about 50 percent from 12-year lows hit less than two months ago after Saudi Arabia, Qatar and Venezuela, along with non-OPEC exporter Russia, pledged to freeze supply at January’s levels if others cooperated. The U.S., Russia and ...

OPEC is very unlikely to cut output at its next meeting in June, even if prices remain extremely low, according to OPEC sources and delegates, as it will be too early to say how fast Iranian output is rising, Reuters ...

January 7, oil prices continued sliding, falling below $33 a barrel for the first time since April 2004 Oil fell below $33 a barrel for the first time since April 2004 because of investors’ concerns of record production and massive ...

Last week the Organization of the Petroleum Exporting Countries (OPEC) failed to agree on an output target to reduce the oil glut, which caused the prices decline by over 60 percent since 2014, Joinfo.ua reports with the reference to Reuters. ...