OPEC, non-OPEC discuss risk to oil investment, no output cuts
A meeting of oil experts from OPEC and non-member countries discussed the risk that low oil prices would reduce investment in new supplies but...
IEA say OPEC responsible for oil glut of supplies
Oil prices may have rebounded off 12-year lows struck last month, but any hope for a broader recovery in the market would be misplaced,...
Saudi consumers still spending despite oil price slump
Bloomberg TV report that Saudi Arabians are still spending money despite the worldwide slump in oil prices. Emad Mostaque reports that the kingdom of...
Saudi reforms may not prevent looming economic slump
At a three-day conference in Riyadh this week, hundreds of Saudi Arabian officials and businessmen discussed ways to rescue the economy from low oil...
Israel sees trade with UAE at $4 billion a year
JERUSALEM, Sept 7 (Reuters) - Annual trade between Israel and the United Arab Emirates is expected to reach $4 billion, an Israeli minister said...
Kuwait oil row as minister tries to shuffle top executives
The chief of state-owned Kuwait Petroleum Corp has refused to carry out the oil minister's decision to swap the CEOs of two subsidiaries, risking...
Saudi posts record $98 billion deficit in 2015
OPEC kingpin Saudi Arabia posted a record $98 billion budget deficit in 2015 due to the sharp fall in oil prices, the finance ministry...
Oil to average just over $40 in 2016
Oil prices will average just over $40 this year, the biggest cut to monthly forecasts in a year, as an influx of Iranian barrels...
Brent stays below $30 a barrel on oversupply worries
Brent oil stayed below $30 a barrel as prices remained weak in Asia Thursday after US crude and fuel inventories rose, adding further anxiety...
Oil slides on Kuwait-Saudi oilfield agreement
World oil prices sank on Tuesday after producers Saudi Arabia and Kuwait announced a deal to gradually resume production at a joint oilfield.
The agreement...
