Middle-east Arab News Opinion | Asharq Al-awsat

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A worker looks at a pump jack at an oil field Buzovyazovskoye owned by Bashneft company north from Ufa, Bashkortostan, Russia, July 11, 2015.REUTERS/Sergei Karpukhin/File Photo

Oil Prices Continue to Drop

by Sabri Najeh | Sep 15, 2016 | Business

Cairo–Oil prices continued to drop during Wednesday’s session despite the decrease in the U.S. crude oil’s reserves. Yet, the Libyan statements that oil production could be increased soon had negative effects on the market. The oil market received two blows this week...

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In a file picture taken on February 28, 2012 a motorist fills up at the gas pump in a gas station of the French northern city of Lille. AFP

Oil Markets Undergo Mass Movements, Prices Inch USD50 per Barrel

by Sabri Najeh | Sep 9, 2016 | Business

Cairo- Oil markets’ trading underwent uninterrupted movements on spot and futures contracts. Aside from the trading session, movements were mass prior to the scheduled meeting in Algeria among Organization of the Petroleum Exporting Countries (OPEC) and Russia on the...

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Khalid A. Al-Falih (L) and Ali al-Naimi attend a news conference at the opening ceremony of the King Abdullah University of Science and Technology (KAUST) in Jeddah September 23, 2009. REUTERS/Susan Baaghil/File Photo

Historic Event: Moscow, Riyadh Cooperate to Monitor Oil Market

by Wael Mahdi | Sep 6, 2016 | Business

Khobar- Oil prices rose on Monday right after Saudi Arabia and Russia signed an initial agreement to discuss possible ways to support oil market stability. The agreement was highly welcomed by oil-producing countries. However, the biggest oil-producing countries in...

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Saudi Arabia’s energy minister Khalid al-Falih

Saudi Arabia’s Energy Minister: Demand Remains ‘Very Healthy’, No Specific Level of Oil Output Targeted

by Asharq Al-Awsat English | Aug 31, 2016 | Saudi Arabia

Saudi Arabia’s energy minister Khalid al-Falih announced that the world’s largest oil exporter does not target a specific level of oil production and that its output is based on customers’ needs. Speaking during an official visit to China, minister Falih told...

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A labourer works at Nahr Bin Umar oil field, north of Basra, southeast of Baghdad, Iraq (Reuters / Essam Al-Sudani) / Reuters

Iraq Sets Sight on Expanding Market Share, Will Not Slow Oil Production

by Asharq Al-Awsat English | Aug 27, 2016 | Business

Willing to play a role within OPEC’s plan to support oil prices, however, Iraq will not sacrifice its chief goal of expanding market share. The oil nation will continue to increase output, its oil minister said on Saturday. OPEC’s second-largest producer,...