Oil falls as hopes dim for output freeze
Oil prices fell Monday on renewed doubts that OPEC will engineer an output freeze amid the global oversupply, with Iran signaling it was not...
Saudi Arabia orders 5% cut in contract spending
Saudi Arabia's government, its finances strained by low oil prices, is opening a fresh austerity drive by ordering ministries to cut their spending on...
Russia eyes global deal on oil output in April, Iran seen exempt
A global deal to freeze oil production could be signed in April and exclude Iran, which has the right to boost output after years...
OPEC sees lower 2016 demand for its oil, pointing to higher surplus
OPEC on Monday predicted global demand for its crude oil will be less than previously thought in 2016 as supply from rivals proves more...
Egypt devalues pound as foreign currency inflow decline
Egypt's central bank said on Monday it had devalued the Egyptian pound by 14.3 percent to 8.95 to the US dollar to face "challenges"...
Cigarettes off Saudi shelves amid price rise speculation
Cigarettes had disappeared from the shelves in some Saudi cities on Sunday amid speculation on social media that the government was about to raise...
Germany approves arms exports to Saudi Arabia and Oman
The German government has approved several arms export deals with countries in the Middle East, including delivery of 23 Airbus helicopters to Saudi Arabia,...
Manchester United seeks to build brand in Asia with Gulf Oil
Manchester United said on Monday it had cut a three-year partnership deal with Gulf Oil International, showing the club's appeal as a global brand...
Oil slides after Iran snubs output freeze deal
World oil prices fell sharply on Monday after Iran reportedly announced over the weekend that it would not to join a proposed output freeze...
OPEC meeting on output freeze unlikely without Iran progress
A meeting between oil producers to discuss a global pact on freezing production is unlikely to take place in Russia on March 20, sources...
