As cracks emerge in global oil pact, Saudis may need to compromise By Rania El Gamal/Reuters Tough negotiations await a group of OPEC experts as they meet their counterparts from other oil producers such as Russia, on October 28-29 to hammer out details of an output-capping agreement, with disagreements threatening to scupper the deal. OPEC
DUBAI, Sept 18 – Iran’s President Hassan Rouhani said Tehran supports any move to stabilise the global oil market and lift prices, the Iranian oil ministry news agency SHANA quoted him as saying on Sunday. “Instability and falling oil prices are harmful to all countries, especially oil producers,” Rouhani was quoted as saying by SHANA.
Uncertainty masks the fate of global economy amid lack of action from the world’s leading powers BY Ahmad Khatib It has been the first quarter of rebounding indices. After its worst first week of a year in history, the Dow Jones industrial average managed to rebound and complete its best quarterly comeback since 1933. Other
BY Omar Al Ubaydli When the founders of the Organization of the Petroleum Exporting Countries (OPEC), convened in Baghdad in 1960, they made life difficult for themselves by violating virtually all of the ideal conditions for operating a cartel. That is why, 55 years later, Saudi Arabia has made the right decision by maintaining its production,
By Parisa Hafezi and Rania El Gamal ANKARA/DUBAI, Feb 17 – Iran said on Wednesday it would resist any plan to restrain its oil output as fellow OPEC ministers flew to Tehran to try to persuade the country to join the first global oil pact in 15 years. The talks in Tehran follow a deal
By Nidhi Verma NEW DELHI, Jan 6 – Iran wants to avoid an oil price war with rival producers and only gradually lift exports once sanctions against it are lifted, a senior official said, in what would be a major shift away from planning to ship as much fuel as soon as possible. Iran, which