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OPEC, allies fail to reach deal on oil production cuts

OPEC and its allies failed to reach a deal on oil production cuts Friday, after Moscow refused to tighten supply to counter the effects of the coronavirus outbreak. The day before, OPEC ministers had recommended reducing output by 1.5 million barrels per day in face of the global slowdown...

Saudi king relieves economy minister

Saudi Arabia's King Salman has relieved the economy minister in the latest cabinet reshuffle, official media reported citing a royal decree, as the kingdom grapples with plunging oil prices. Saudi Press Agency said late Thursday that the king "relieved" Mohammed al-Tuwaijri from his...