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World needs access to Russian gas: Saudi energy minister

Saudi Arabia, Russia agreed to lift oil output

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October 3, 2018


Oil output on U.S. Gulf Coast curtailed as Hurricane Nate nears

HOUSTON: Hurricane Nate had curtailed 92 percent of U.S. Gulf of Mexico oil output and up to 3 percent of refining capacity on Saturday as it sped toward energy facilities in the central U.S. Gulf Coast that largely were spared by Hurricane Harvey’s wrath nearly six weeks ago, reported Reuters. The fast-moving storm has forced…

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October 8, 2017


Oil price to start slow recovery in 2017: IEA

PARIS: World oil prices are unlikely to rise from current levels before 2017, and even then their recovery will be slow as massive oil stocks feed into the market, the IEA said Monday. “We must say that today’s oil market conditions do not suggest that prices can recover sharply in the immediate future – unless,…

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February 22, 2016


Iran backs moves to stabilise oil market, raise prices

TEHRAN: Iran’s Oil Minister Bijan Zanganeh said Wednesday his country supported steps taken by other major producers that could stabilise the market and lead to price hikes for crude. But after a meeting with his Iraqi, Venezuelan and Qatari counterparts in Tehran, a day after Saudi Arabia, Russia and several other big producers agreed to…

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February 17, 2016