Saudi projects $87 billion deficit for 2016
Saudi Arabia has announced a projected budget deficit in 2016 of $87 billion (327 billion riyals), as lower oil prices cut into the government's...
Iran issues order to boost oil production by 500,000 bpd
Iran has issued an order to increase crude oil production by 500,000 barrels a day, the deputy oil minister was quoted as saying on...
Dollar hits 8-month high on rate expectations, metals drop
The dollar rose to an eight-month high on Monday amid heightened expectations that the U.S. Federal Reserve would raise interest rates next month, driving...
Oil price slump to start affecting Saudi banks
The impact of lower oil prices will soon start to weigh on Saudi Arabia’s banks, which are likely to see bad loans edge higher...
Turkey favours market-friendly reforms, executive presidency
Turkey's new government will aim to bring inflation down to single digits and maintain central bank independence, Prime Minister Ahmet Davutoglu said on Wednesday,...
OPEC oil production rises in September
OPEC oil output has risen in September from the month before, a Reuters survey found, as Iraq’s northern exports recovered from disruption that had...
Libya outlines ambitious plans to restore oil output
Libya's National Oil Corporation has ambitious plans to restore output to pre-2011 levels after years of violence and disruption, officials said.
Oil output is now...
Oil bosses fight for relevance before climate talks
Oil and gas industry leaders on Friday launched a final charm offensive to highlight the sector's relevance in the global fight against climate change...
Oil rises, but oversupply hobbles gains
Global oil prices rebounded Wednesday but buying sentiment remains sluggish owing to supply glut woes and a strong dollar.
At about 1245 GMT, U.S. benchmark...
Saudi stock market surges, petchems climb on oil rebound
Saudi Arabia's stock market rose sharply in heavy turnover during early trade on Thursday as petrochemical shares in particular surged in response to a...
