VIENNA: OPEC officials held talks with Russia and other non-cartel members on Saturday in Vienna to debate how to implement a plan aimed at cutting oil output to reduce a global supply glut and bolster prices. "The recovery process has…
WASHINGTON: In a cloak-and-dagger plot fit for a Hollywood movie, US actor Sean Penn met secretly in the Mexican jungle in October with Joaquin "El Chapo" Guzman, conducting an explosive interview released a day after the drug kingpin's…
NEW YORK: Oil tumbled 5 percent on Friday, erasing the previous session's gains, as Yemen's conflict looked less likely to disrupt Middle East crude shipments and investors turned their focus to talks for a potential Iran nuclear deal that…
SINGAPORE: US crude fell to near six-year lows in Asia on Tuesday, extending losses in New York as worries about a global oversupply were exacerbated amid an OPEC warning of a continued petroleum glut, analysts said.
VIENNA: A recovery in oil prices which began last month is not justified by fundamentals as there remains a supply glut in the market, oil cartel OPEC said Monday in its monthly report.