Oil steadied as Saudi Arabia vowed that OPEC and its partners will do what’s necessary to balance the market.
Libya took a major step toward reviving its battered oil industry by reopening its biggest field, presenting a new headache for OPEC+ as the alliance of major producers tries to curb global supplies.
Libya’s oil industry continued to revive this week following a truce between the main factions in the OPEC member’s devastating civil war.
Venezuela’s dwindling oil exports were dealt another blow as one of India’s top refiners secured millions of barrels of Canadian crude on concern that the U.S. is poised to step up sanctions against Caracas.
German Foreign Minister Heiko Maas urged Greece and Turkey to restart talks over their competing claims to economic sovereignty in contested waters of the eastern Mediterranean as he visits the NATO allies on Tuesday.
Europe’s plan to put a price on dirtier imports risks getting caught up in global trade tensions as the fallout from the coronavirus pandemic eclipses climate change as the biggest challenge for governments.
U.S. oil exports to China are set to reach a record next month in a sign that Beijing is stepping up purchases to meet its commitments under a landmark trade deal.
Venezuela’s fuel crisis is poised to deteriorate even further after one of its biggest refineries was halted over the weekend following a nearby oil spill.
The Iranian navy has boarded and briefly seized a Liberian-flagged oil tanker near the strategic Strait of Hormuz amid heightened tensions between Tehran and the US, an American military official said.
Greece's prime minister has warmly thanked France for boosting its military presence in the eastern Mediterranean.