Middle-east Arab News Opinion | Asharq Al-awsat

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Russian Energy Minister Novak speaks to journalists following news conference at Russia-ASEAN summit in Sochi. Reuters

Russian Energy Minister Denies Bids to Reduce Production

by Taha Abed alWahed | Sep 26, 2016 | Business

Moscow- Russia has not received proposals from OPEC on oil production decline. At the moment, we are talking only of “freezing” the level of production,” said Russian Minister of Energy Alexander Novak. According to Novak, none of the countries, exporters of oil, went...

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An oil pump jack pumps oil in a field near Calgary, Alberta, July 21, 2014. Pump jacks are used to pump crude oil out of the ground after an oil well has been drilled. REUTERS/Todd Korol

Oil Producers Await a Change in Saudi Stance

by Wael Mahdi | Sep 25, 2016 | Business

Khobar- Saudi Arabia has been adopting since 2014 a clear oil policy that is based on maintaining market share and letting the market fix itself by itself. This policy depends on the philosophy which says that prices might not rise – then Saudi Arabia might lose...

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The OPEC logo is seen at OPEC’s headquarters during a meeting of OPEC oil ministers in Vienna, Austria, June 5, 2015. REUTERS

OPEC in New Push to Clinch First Deal to Curb Output Since 2008

by Asharq Al-Awsat English | Sep 22, 2016 | Business

OPEC member country Algeria is expected to host a meeting for the organization’s oil ministers next week. The last two OPEC meetings held in Algeria — in 2004 and 2008 — shocked the market with unexpected production cuts to prop up prices. The stars might...

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Oil Price at $45 per Barrel, Waiting for Possible Stabilization in Algeria

by Sabri Najeh | Sep 21, 2016 | Business

Cairo-International benchmark Brent crude oil futures were trading at about $45 per barrel on Tuesday. Oil Investor T. Boone Pickens believes the price of oil will rise to a range of $55 to $60 a barrel by the end of the year, he said in an interview with Reuters on...

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A table with OPEC logo is seen during the presentation of OPEC’s 2013 World Oil Outlook in Vienna , November 7, 2013. REUTERS/Leonhard Foeger

Oil Rebounds on OPEC Deal Speculation

by Asharq Al-Awsat English | Sep 19, 2016 | Business

Oil prices witnessed a1 percent rise on Monday after Venezuela made hints on OPEC members and other oil giant producers might eventually agree to a deal to freeze output, and as clashes in Libya disrupted attempts to restart crude exports from key ports. U.S. gasoline...