Saudi Arabia’s energy ministry has directed oil producer Saudi Aramco  to raise its output capacity to 13 million from 12 million barrels per day , CEO Amin Nasser said in a statement on Wednesday. “The company is exerting its maximum efforts to implement this directive as soon as...

Saudi Arabia’s energy minister said on Tuesday he does not see a need to hold an OPEC+ meeting in May-June if there was no agreement on what measures should be taken to deal with the impact of the coronavirus on oil demand and prices. “I fail to see the wisdom for holding meetings in...

A bounce in the price of oil provided some support to under-pressure stocks in early Asian trade on Tuesday, a day after global equities suffered their biggest losses in more than a decade. Global stock markets had capitulated on what has become known as "Black Monday", with the Dow on Wall...

Plunging oil prices have increased the urgency for Algeria to reform its economy, politicians and business leaders said Monday. Energy Minister Mohamed Arkab said the country had been in "permanent consultations" with other oil producers after the collapse on Friday of an OPEC supply deal,...