Opec kingpin Saudi Arabia and top non-Opec producer Russia are showing signs of flexibility about agreeing to tackle an oil glut that has pushed prices to 12-year lows, the oil minister of Iraq said on Tuesday.
Kuwait on Sunday appointed Anas al-Saleh as acting oil minister in addition to his roles as finance minister and deputy prime minister, state news agency Kuna reported.
Kuna did not say why Ali al-Omair was leavi
Kuwait's oil minister said there were currently no calls from within the Organization of the Petroleum Exporting Countries (Opec) to change the oil-producing group's output policy and that a market exit by high-cost producers could hel
Iran will unveil new oil development contracts in the coming weeks aiming to attract foreign investors and oil buyers once sanctions on its energy sector are lifted, Shana reported.
The new contracts will be unveiled in T
Kuwait's oil minister said on Tuesday he expected oil prices to continue rising, predicting gains in the final quarter of 2015 on the back of global growth.
"All indicators point to an improvement in prices ... today we h
Kuwait's oil minister expects crude prices to rise in the second half of 2015, possibly to $60 a barrel by year-end, local newspaper Al-Rai cited him as saying on Wednesday.
The recent rebound in oil prices was due to low supp
Saudi Arabia's new King Salman has ordered a lavish payout to all state employees and reshuffled some top government jobs while keeping in place the oil, foreign, finance, defence and interior ministers.
The top oil exporter w
Opec producer Iraq expects to base its 2015 budget on an oil price of $80 per barrel, Oil Minister Adel Abdel Mehdi told parliament on Monday.
Oil prices have fallen to below $80 on abundant and weak demand from $115 a barrel in J
Iran's oil minister accused some countries on Sunday of making up excuses to justify their refusal to stabilise prices by cutting output, a possible reference to Saudi Arabia as a Saudi official insisted the issue should be left to market fo
Iraq's new oil minister is a veteran politician who will need to deploy all his experience to resolve disputes over Kurdish oil production and allay foreign investor fears about Islamist militia control in northern oil fields.