Libya took another step toward reviving its moribund oil industry by restarting production at a second important field after a five-month halt.

Pumping began on Sunday at the El-Feel deposit, which had suspended operations due to the North African coun...

Saudi Arabia raised crude pricing to all regions a day after OPEC+ producers extended historic output cuts for another month to bolster oil’s rally, according to a pricing list seen by Bloomberg.

The pricing decision for July exports to Asia is the sec...

The US Embassy in Libya welcome the resumption of production at the al-Sharara oil field, the country's largest oil field, and called on all of Libya's warring parties to reject the militarization of the energy sector.

"Now is the time for all responsi...

OPEC+ agreed to a one-month extension of its record oil-production cuts and adopted a stricter approach to ensuring members don’t pump more than they pledged.

The deal will underpin the oil market’s recovery, easing the financial pain felt by resource-...

The coronavirus pandemic has dramatically curtailed all forms of transport as consumers are told to stay home to slow the spread of the virus and offices remain closed.

The economic fallout of the virus is reverberating through the transport industry w...

Russian Energy Minister Alexander Novak said on Thursday that the global oil market may see a shortage of 3-5 million barrels per day (bpd) in July, depending on the parameters of a deal to be reached by OPEC+ producers, Interfax news agency reported.

...

Nigeria said on Saturday it was ready to make additional oil output cuts from July to September to compensate for producing more than its quota in May and June, when OPEC and its allies implemented a deal to curb supply by record amounts.

“Nigeria reco...

OPEC and its allies led by Russia are “most likely” to agree on a one-month extension to an oil production cuts deal on Saturday, an OPEC delegate said.

The delegate, who spoke on condition that he not be identified, said: “It is most likely that the m...

Amirhossein Zamaninia has been officially approved as Iran's OPEC governor, according to an Iranian oil official cited by Reuters.

Zamaninia was appointed as caretaker governor on May 23.

He was a member of Iran’s nuclear negotiating team under the ...

OPEC, Russia and allies were set on Saturday to extend record oil production cuts through July after crude prices doubled in the past two months on the back of their efforts to withdraw almost 10 percent of global supplies from the market.

According to...

OPEC, Russia, and allies agreed on Saturday to extend record oil production cuts by one month until the end of July, five OPEC+ sources told Reuters after the group held a video conference.

The group, known as OPEC+, also demanded countries such as Nig...

Mexico on Saturday refused to extend a cut in oil production to the end of July which was agreed by OPEC members and other key producers.

The Organization of the Petroleum Exporting Countries and its allies agreed on Saturday to extend through July the...

Libya’s biggest oilfield is gradually resuming production that had been halted by an almost five-month blockade, an official said Saturday.

The restart of the Sharara field in the country’s southwest comes after a valve on the pipeline running to the p...

The value of Saudi Arabia’s oil exports plunged by 21.9 percent year on year in the first quarter to $40 billion, corresponding to a decline of about $11 billion, official data showed on Sunday.

Brent crude prices fell more than 60 percent in the quart...

Voluntary additional cuts by Saudi Arabia, UAE and Kuwait of oil production are due to last for only one month, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said during an OPEC webinar with journalists on Monday.

The Organization of Petro...