Russia stepped up its price war with Saudi Arabia by warning it can raise oil production, while also saying further cooperation with OPEC is possible.
After the collapse of OPEC+ talks last week, Russia could increase output by as much as 500,000 barrels a day in the near future, Energy Minister...
One of the important measures taken by petrochemical companies in the past several days to help fight the rapidly spreading coronavirus in Iran has been to increase production of javel water and antiseptic solutions, managing director of Petrochemical Special Economic Zone Organization said.
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Prices for spot liquefied natural gas cargoes imported into Japan, the world’s biggest buyer of the fuel, fell in February to the lowest since the country’s trade ministry started compiling data in 2014.
LNG prices have been hit by a perfect storm of new supply coming on stream in the United...
Losing more than a quarter of their value, oil prices were set on Monday for their biggest daily rout since the first (Persian) Gulf War, after Saudi Arabia cut its official prices in a market already reeling from the impact of the coronavirus on global demand.
Saudi Arabia slashed its official...
Asian oil traders are bracing for another round of hefty price falls on Monday in key benchmarks Brent and Dubai after the world’s top exporter Saudi Arabia slashed prices, reigniting a market share battle among key producers.
The world’s top producers including Saudi Arabia, Russia and other...
OPEC and its allies need to cut crude output by 500,000 barrels per day to clear the oil market's oversupply from the coronavirus outbreak, Iran’s Oil Minister said upon his arrival in Vienna on Wednesday.
Bijan Namdar Zanganeh is attending a meeting of the Organization of Petroleum Exporting...
OPEC could deliver a larger-than-expected production cut at its meeting later this week, according to MUFG Bank.
Oil prices have been under pressure since the outbreak of the coronavirus in January dampened the demand outlook for the year, CNBC reported.
Following the “massive sell-off” in...
Oil prices rebounded more than $1 a barrel after earlier hitting multi-year lows on Monday, as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.
Brent crude was at $51.31 a barrel, up $1.64 or 3.3%, off...
Tehran Province Water and Wastewater Company (Abfa) said in a statement on Saturday that water consumption in the capital has increased dramatically in the past 10 days and appealed to Tehran residents to avoid waste and unnecessary use to help its avoid supply cuts.
Following outbreak of the...
Oil prices slumped to their lowest in more than a year on Friday and were set for their steepest weekly fall in more than four years as the spread of the coronavirus stokes fears of slowing global demand.
Investors are increasingly worried as the virus has spread beyond its epicenter in China to...