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Saudi Arabia’s energy minister Khalid al-Falih
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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
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,...Caption:
An oil field owned by Bashneft in Russia. Officials from Russia, Saudi Arabia and other major oil-producing countries will meet this weekend in Doha, Qatar, to discuss maintaining oil production at current levels. Credit Sergei Karpukhin/Reuters
Oil Bounces on Speculation of Iran Conceding to OPEC Freeze Action
Reversing early losses, oil prices bounced back on Tuesday. Reuters had reported Iran sending positive signals that it may support joint OPEC action to prop up the market. Brent crude was up 30 cents, or 0.6 percent, at $49.46 a barrel. It had fallen 1.4 percent...Caption:
President Muhammadu Buhari delivers 2016 budget at the National Assembly in Abuja, Nigeria December 22, 2015. REUTERS/Stringer
Nigeria Loses Africa’s ‘Biggest Economy’ Title
Lagos- As oil rates plunge amid a tragic lack of security in the south, a massive humanitarian crisis in the north and a major power deficiency, Nigeria’s economy has collapsed within a 15-month time frame, losing the title of Africa’s biggest economy and number one...Caption: