Qatar energy minister says too early to predict OPEC outcome
It is too early to forecast the outcome of oil producer group OPEC's Dec. 4 policy meeting, Qatari energy minister Mohammad bin Saleh al-Sada...
Oil prices may reach $20, Saudi not willing to cut output
OPEC is determined to keep pumping oil vigorously despite the resulting financial strain even on the policy's chief architect, Saudi Arabia, alarming weaker members...
Oman records lowest inflation in Gulf region
JEDDAH – Oman recorded the lowest inflation rate at 0.07 percent in August among Gulf Cooperation Council (GCC) states. The highest inflation rate was...
Iran reappoints Hedayatzadeh as boss of Swiss-based oil trading firm
Iran on Tuesday reappointed a former managing director of its Swiss-based trading company as part of a broader reshuffle aimed at bolstering its oil...
Russia and Turkey discuss restoring economic ties
Russia and Turkey will gradually unfreeze relations in trade and economy which soured after Turkey downed a Russian bomber near the Syrian border last...
Falih slowly wins back OPEC for Saudis
Russian oil billionaire Vagit Alekperov isn't easily swayed, but Saudi Arabia's new Energy Minister Khalid al-Falih achieved it this week.
Intense diplomacy by the soft-spoken...
Egypt struggles to get subsidised food to poor amid dollar crisis
"Any rice?" says the woman, leaning into a shop in Cairo and brandishing a green smartcard that carries her family's food credits. The shopkeeper...
Oil prices down as Turkey fears ease
Oil prices extended their decline in Asia Tuesday as the global glut returned to focus, while worries about the effects of Turkey's coup on...
Devaluation of Saudi currency would carry major political risk
The devaluation of Saudi Arabia's currency could cause such political instability that Riyadh has little choice but to stick to its promise to use...
Oil companies in Iraq agree to restart investment, boost output
Iraq has reached agreement with BP, Shell and Lukoil to restart stalled investment in oil fields the firms are developing, allowing projects that were...
