ABU DHABI (Bloomberg) -- The success of a proposal for the worlds biggest producers to freeze crude output hinges on unified support, Iraqs oil minister said, a day after fellow OPEC member Iran called the plan ridiculous. If some people fr...

China is a key market for Scotlands oil and gas sector both for international trade and inward investment with Sinopec, PetroChina and CNOOC making significant investment in the North Sea and the Grangemouth Refinery. As such, cippe offers...

HOUSTON (Bloomberg) -- The worlds most powerful oilman brought a harsh message to Houston for executives hoping for a rescue from low prices: high-cost producersmany of them sitting in the roomneed to either lower costs, borrow cash or liqu...

HOUSTON (Bloomberg) -- OPEC and U.S. shale may need a relationship counselor. After first ignoring it, later worrying about it and ultimately launching a price war against it, OPEC has now concluded it doesnt know how to coexist with the U....

NEW YORK (Bloomberg) -- Oil pared gains after a government report showed U.S. crude inventories advanced to an 86-year high as imports surged. Crude stockpiles rose 2.15 MMbbl to 504.1 MMbbl last week, according to the Energy Information Ad...

TEHRAN, Iran (Bloomberg) -- Iran supported an accord by Saudi Arabia and Russia to steady global oil markets by capping their supply, without saying whether it would curb its own production. Iran backs any measures to stabilize global oil m...

NEW YORK (Bloomberg) -- Oil traders arent too impressed with Saudi Arabia and Russias accord to cap oil production at near-record levels. After rising above $31.50/bbl when news of this agreement was reached, front-month West Texas Intermed...

DOHA, Qatar (Bloomberg) -- Saudi Arabias oil minister will meet with his Russian counterpart in Doha on Tuesday to discuss the oil market, according to a person familiar with the talks. Ali al-Naimi, the most senior oil official of the worl...

NEW YORK (Bloomberg) -- Crude oil surged the most in seven years, rebounding from the lowest in more than a decade as equities rallied. Volatility jumped. Futures rose 12% in New York and 11% in London. U.S. stocks halted a five-day slide t...

NEW YORK (Bloomberg) -- Crude oil surged the most in seven years, rebounding from the lowest in more than a decade as equities rallied. Volatility jumped. Futures rose 12% in New York and 11% in London. U.S. stocks halted a five-day slide t...