Saudi minister says 'confident' oil prices will improve

Saudi Oil Minister Ali al-Naimi said today he was confident world prices would improve after a slide he blamed partly on "lack of cooperation" by producers outside the OPEC cartel.

Saudis and Russia hold talks ahead of OPEC meet

OPEC members Saudi Arabia and Venezuela were meeting with officials from fellow oil producers Russia and Mexico here Tuesday against a backdrop of sliding crude prices, sources told AFP.

G20 mulls overhaul of global energy market: Report

An overhaul of the global energy market could be a surprise outcome of the G20 summit with plans for a new agency to protect against oil and gas supplies being used as foreign policy tools, a report said Saturday.

Oil prices mixed as Iraq keeps markets on edge

Global oil prices traded in mixed fashion ahead of the weekend Friday, with Brent slightly higher as traders watched developments in the jihadist-led offensive in Iraqi, OPEC`s second-largest oil producer.

Iraq violence threatens OPEC`s precarious balance

The oil market has balanced out quite nicely for OPEC in recent years. Now, upheaval in Iraq shows that balance may be more precarious than it has seemed.

OPEC ministers signal output to remain on hold

All is not well within OPEC as the oil cartel focuses on how much crude to pump for the rest of the year.

Oil prices rise on Libya concerns

Oil prices rose in Asia Tuesday on growing concerns about lawlessness in crude-producer Libya as an top military unit joined a renegade general`s bid to quash Islamists and edged the country closer to civil war.

No deal with new PM: Libyan rebels

Rebels occupying major oil ports in eastern Libya said on Wednesday they would not deal with new Prime Minister Ahmed Maiteeq, a stance that could threaten efforts to reopen the terminals in the OPEC producer.

Venezuela reports progress in new crisis talks

Venezuela`s government and opposition reported progress Tuesday in a new round of talks aimed at ending two months of deadly protests that have rocked the oil-rich nation.

German leftist terrorist suspect convicted

An 80-year-old German woman, who was part of a leftist terrorist organisation, has been acquitted of a role in the deadly 1975 terror attack on OPEC headquarters in Vienna.

`Iran will cut oil exports to European countries`

The EU accounted for 25 percent of Iranian crude oil sales in the third quarter of 2011.

OPEC holds 2010 oil demand steady

OPEC on Tuesday held its world oil demand
growth forecast steady for 2010, noting indications of
improvements in the global economy but voicing concerns that
oil`s price rally remains on shaky ground.

Oil price might rise `reasonably`: Saudi king

Oil prices are stabilising and might even rise "reasonably," Saudi Arabia`s King Abdullah was quoted as saying by a Kuwaiti newspaper.

OPEC holds output steady

OPEC held its output quotas unchanged on Tuesday, several ministers said as the producer group called for greater compliance from some members whose overproduction could undercut efforts to support prices.

Oil prices rise before OPEC meet

Oil prices rose today as OPEC`s crude-producing nations signalled that they would decide against making changes to output levels at an upcoming meeting.

Oil below $76 as OPEC ministers flag steady output

Oil prices hovered below USD 76 a barrel on Monday in Asia after several OPEC ministers said they don`t expect their group to change production levels at a meeting later this month.

OPEC should maintain output: Arab oil ministers

Arab oil ministers of OPEC said on Friday that the cartel should keep production unchanged when it meets later this month as crude prices are close to the target of 80 dollars a barrel.

World oil demand growth to outpace supply in 2010

Growing world oil use will likely outpace the rate of new supplies in 2010, eroding the huge stockpiles of crude which have mounted around the world since the start of the global economic crisis.

OPEC head says USD 75 to 80 a barrel a `good price`

USD seventy-five to 80 a barrel is a satisfactory price for oil, the president of OPEC said on Monday, adding that the cartel may leave production unchanged at its meeting next month.

Oil higher at $ 71 after OPEC leaves output levels steady

Oil crept higher on Thursday after
OPEC maintained its output quotas at existing levels, analysts