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Oil extends recovery as Kuwait strike enters third day ECONOMY

Oil extends recovery as Kuwait strike enters third day

Oil prices recovered further on Tuesday as a strike by Kuwaiti petroleum workers entered its third day, offsetting downward pressure from a failure by producers to freeze output.

4:45 AM November 25 2016
Iran sees oil output rising to pre-sanctions level by June ECONOMY

Iran sees oil output rising to pre-sanctions level by June

Iran's oil production will reach pre-sanctions levels within two months, a deputy oil minister was quoted as saying in what could be read as a signal that it might be willing to join efforts to support prices.

4:45 AM November 25 2016
Oil prices tumble after Saudi-Iran tensions sink output deal ECONOMY

Oil prices tumble after Saudi-Iran tensions sink output deal

Oil prices tumbled on Monday after a meeting by major exporters in Qatar collapsed without an agreement to freeze output, leaving the credibility of the OPEC producer cartel in tatters and the world awash with unwanted fuel.

4:45 AM November 25 2016
Oil producers to continue discussions on freeze deal ECONOMY

Oil producers to continue discussions on freeze deal

Eighteen Opec member countries and major producers from outside the group met in Doha yesterday to discuss a possible freeze in oil production at January’s levels

4:45 AM November 25 2016
Iran not sending representative to OPEC meet: minister ECONOMY

Iran not sending representative to OPEC meet: minister

Iran will not be sending any representative to a key oil summit in Doha aimed at negotiating a production freeze, Tehran's petroleum minister said on Sunday.

4:45 AM November 25 2016
Turkey urges cooperation with Iran to fight terrorism, sectarian strife ASIA

Turkey urges cooperation with Iran to fight terrorism, sectarian strife

Turkish President Tayyip Erdogan said on Saturday his country and neighbouring Iran must work together to narrow their differences in order to tackle terrorism and sectarianism in the region.

4:45 AM November 25 2016
Iran's oil production has already surpassed 3.5 million bpd ECONOMY

Iran's oil production has already surpassed 3.5 million bpd

Iran's oil production has already surpassed 3.5 million barrels per day, the deputy oil minister said on Saturday, and the Islamic Republic is seeking to increase oil and gas exports in the coming month.

4:45 AM November 25 2016
Islamic summit condemns Iran over 'terror support' ASIA

Islamic summit condemns Iran over 'terror support'

A major summit aimed at overcoming differences in the Muslim world condemned Iran for supporting terrorism and meddling in the affairs of other countries.

4:45 AM November 25 2016
Iran oil minister won't attend Doha output freeze talks: ministry ECONOMY

Iran oil minister won't attend Doha output freeze talks: ministry

Iran's oil minister will not join an Iranian delegation at a meeting this weekend of major crude producers aimed at negotiating a production freeze, the oil ministry said on Friday.

4:45 AM November 25 2016
After Italy and France, Brussels seeks to revive ties with Iran INTERNATIONAL

After Italy and France, Brussels seeks to revive ties with Iran

The EU's foreign policy chief will lead a delegation of commissioners to Tehran on Saturday for the EU executive's highest-level talks in more than a decade, seeking to capitalise on last year's historic nuclear deal with Iran.

4:45 AM November 25 2016
Opec warns on oil 'oversupply' ahead of crunch Doha meeting ECONOMY

Opec warns on oil 'oversupply' ahead of crunch Doha meeting

Opec warned that the world remains awash with crude ahead of a crunch meeting in Doha between cartel members and other major producers to discuss a production freeze to boost the oil price.

4:45 AM November 25 2016
Renzi in Iran to win back economic clout ASIA

Renzi in Iran to win back economic clout

Italy’s prime minister looked to restore his country’s economic clout in Iran yesterday as he became

4:45 AM November 25 2016