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Iran has thrown its support behind moves to bolster oil prices, but has stopped short of saying it will curb its own output, according to a report.The apparent support from the strategic Opec member state comes after Saudi Arabia, Russia, Qatar and Venezuela earlier this week agreed to freeze…
Crude futures rebounded on Wednesday on investor hopes that a deal between Saudi Arabia and Russia to freeze oil output at January levels would lead to a wider pact among producers that could eventually see production cuts to support prices.Brent crude climbed 47 cents to $32.65 a barrel early…
Iran just revealed its oil prices to European buyers for the first time since sanctions were lifted against the Middle East country. The most competitive pricing compared with Saudi Arabian supply in 21 months underscores its intention to win back market share.
Iran Heavy, one of the country’s main export…
Crude prices pushed higher on Wednesday after Iran said it was open to cooperation with Saudi Arabia, partly recovering from an 8% fall in the previous session led by concerns over demand and weak equities.Prices were supported by comments from Iran’s oil minister that Tehran is ready to negotiate…
Global oil markets fell 3% to settle down for a third straight day on Monday on worries that US crude stockpiles had reached new record highs, while a Saudi-Venezuela meeting to boost prices showed little progress.Oil was also hurt by tumbling US equity markets amid persistent fears about the…
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