energy minister

 
 

Don't mention the oil price: US legal threat prompts change at Opec

LONDON, Oct 17 — Opec has urged its members not to mention oil prices when discussing policy in a break from the past, as the oil producing group seeks to avoid the risk of US legal action for manipulating the market, sources close to Opec said….


Opec says oil market well supplied, wary of 2019 surplus

LONDON, Oct 11 — Opec sees the oil market as well supplied and is wary of revisiting a glut next year, the group’s secretary-general said today, suggesting producers are in no rush to expand a June agreement that raises output. Oil prices have…


Saudi Arabia in short-term oil fix, fears extra US supply

DUBAI: Saudi Arabia will quietly add extra oil to the market over the next couple of months to offset a drop in Iranian production but is worried it might need to limit output next year to balance global supply and demand as the United States pumps more crude. The kingdom, OPEC’s top producer, came under […]


Saudi Arabia in short-term oil fix, fears extra US supply next year

DUBAI, Sept 27 — Saudi Arabia will quietly add extra oil to the market over the next couple of months to offset a drop in Iranian production but is worried it might need to limit output next year to balance global supply and demand as the United…


US will not tap oil reserve as Iran sanctions loom-Perry

WASHINGTON, Sept 27 — The Trump administration is not considering a release from the US emergency oil stockpile to offset the impact of looming Iran sanctions, and will instead rely on big global producers to keep the market stable, Energy…


Iran says oil to rise as Saudi, Russia do ‘little and late’

LONDON, Sept 24 — Saudi Arabia and Russia won’t add significantly more oil to the market because of a lack of capacity, a top Iranian official said today, predicting prices will probably rise further. Yesterday, ministers and officials from the…


Oil jumps 2pc as market tightens, more gains seen

LONDON, Sept 24 — Oil prices rose 2 per cent today as US sanctions restricted Iranian crude exports, tightening global supply, with some traders forecasting a spike in crude to as much as US$100 per barrel. Brent crude hit its highest since May at…


Opec, Russia rebuff Trump’s call for immediate boost to oil output

ALGIERS, Sept 23 — Opec’s leader Saudi Arabia and its biggest oil-producer ally outside the group, Russia, ruled out today any immediate, additional increase in crude output, effectively rebuffing US President Donald Trump’s calls for action…


Pakistan invites Saudi to invest in China economic corridor

ISLAMABAD: Islamabad has invited Saudi Arabia to invest in the Beijing-funded, multi-billion dollar infrastructure corridor being constructed in Pakistan, its information minister said, as concerns grow over the country’s debt levels. The China-Pakistan Economic Corridor (CPEC) is an ambitious plan to build energy and transport links connecting the western Chinese region of Xinjiang with the […]


Pakistan invites Saudis to invest in China economic corridor

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ISLAMABAD, Sept 21 — Islamabad has invited Saudi Arabia to invest in the Beijing-funded, multi-billion dollar infrastructure corridor being constructed in Pakistan, its information minister said yesterday, as concerns grow over the country's debt…