Oil drops in downbeat start to week

World oil prices fell on Monday after the OPEC crude producers' cartel left its output ceiling unchanged last week in an oversupplied market, dealers said.

Oil prices sink ahead of OPEC summit

Oil prices fell sharply for a second day Thursday ahead of OPEC`s summit to review its production levels amid an oversupplied market.

Caracas mayor to appeal coup plot charge

The mayor of Caracas, who was detained and charged with plotting to overthrow Venezuelan President Nicolas Maduro`s government, will appeal the "baseless" allegations, his lawyer said Saturday.

Salman takes Saudi throne with continuity pledge

New Saudi King Salman vowed to keep his conservative, oil-rich Muslim kingdom on a steady course and moved to cement his hold on power following the death of his half-brother King Abdullah.

Saudi King Abdullah - Patient reformer who battled hardliners

Saudi King Abdullah was in his early 80s when he ascended the throne in 2005 but he sprang into action in a campaign to free the kingdom from dependence on oil and the influence of hardline Islamists.

How falling oil prices impact India's economy

Lower crude price will surely facilitate room to the Reserve Bank of India in adopting growth-centric approach while reviewing monetary policy.

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.