The non-oil economies of the energy-rich Gulf states are likely going in reverse this year, shrinking in the case of Saudi Arabia for the first time in more than three decades. Once they shift into higher gear, the bounceback will generate so little momentum that a creeping recovery may...

US President Donald Trump said Tuesday he was ready to help resolve an escalating oil price war between Russia and Saudi Arabia that has helped push crude benchmarks to 17-year lows. The threat of a global recession triggered by the coronavirus pandemic had already hammered prices when...

Saudi Aramco has asked key energy service companies to support the state oil giant’s plans to produce at its maximum oil output capacity of 12 million barrels per day “starting April 1 and for the foreseeable future”, a Saudi oil industry source told Reuters on Tuesday. Aramco has...

The Turkish economy was healing after a recession when the new coronavirus struck, leaving Ankara scrambling to contain the damage with stimulus measures worth billions and facing demands to do much more. The death toll in Turkey is 168 with 10,827 recorded cases of the virus but the fear...