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Saudi Deputy Oil Minister Prince Abdulaziz bin Salman and Nigerian Oil Minister Emmanuel Ibe Kachiwkuto met in Riyadh to discuss the oil market with both parties agreeing that consultations and cooperation between all oil producers are the best way to Read more
Iran has stated that it supports the agreement reached between Qatar, Russia, Saudi Arabia and Venezuela in Doha to freeze oil output at January 11 levels without making any commitment whether it would abide by it. After meeting with his Read more
Iran, which is coming back on the international oil market, voiced readiness to discuss the issue of oil prices with OPEC member states, including Saudi Arabia. “We support any form of dialogue and cooperation with OPEC member states, including Saudi Read more
As oil prices continue to fall and as Iran is about to increase its output after the lifting of sanctions, Saudi oil minister Ali al-Naimi said he continues to be “optimistic” about the future increase of oil prices. The minister Read more
After reports in the beginning of the week that the national oil corporation created by the Tobruk-based government had signed an agreement with Egyptian General Petroleum Company (EGPC) for the supply of 2 million barrels of crude oil, the longtime Read more
After the meeting in Vienna of the Oil Producing Exporting Countries (OPEC) held last week ended with member countries deciding not to reduce output leading to a further drop of oil prices to around $43 a barrel, Saudi Arabia which Read more
Member countries of the Organization of Petroleum Exporting Countries (OPEC) are meeting this Friday in Vienna to discuss the organization’s policies especially the low hydrocarbon prices but a change is not expected as they continue to disagree over the approach Read more
Oman’s sovereign debt has been downgraded by the Standard and Poor’s (S&P) rating agency from A- to a BBB+ citing a negative outlook because “the government’s fiscal and external positions could deteriorate beyond our current expectations over the next two Read more
Oman’s oil minister Mohammed Bin Hamad Al Rumhy scolded the Organization of Petroleum Exporting Countries (OPEC) at the opening of the Abu Dhabi International Petroleum Exhibition and Conference for the low oil and gas prices due to “irresponsible” production and Read more
Saudi oil Minister Ali al-Naimi said that the current low oil and gas prices will be settled through increased demand in Asia. He said urbanization, population expansion, increasing prosperity and social mobility will lead to oil demand growth which will Read more