Iraqi Oil Minister Thamer Ghadhban said Monday he expected the fall in oil prices to stop and for prices to rise over time, adding that if OPEC had not cut production, prices would have dropped to $45-50 per barrel. Speaking at a ministry event in Baghdad, Ghadhban said the recent fall...

Saudi Arabia’s crude oil exports are expected to drop next month by some 1 million barrels per day from November levels, two sources familiar with the matter said Saturday. The world’s top oil exporter is expected to ship about 7.3 million bpd in January, one of the sources said,...

OPEC and it allies announced Friday crude output cuts of 1.2 million barrels per day (mbpd) to balance the global oil market. Members agreed the cartel will curb production by 800,000 mbpd, while non-OPEC oil producers, including Russia, will cut by 400,000 bpd. The supply cuts...

Iraq needs at least two years to boost the country's gas production to stop importing Iranian gas used to feed its power stations, a senior Iraqi energy official said on Thursday. Hayan Abdel-Ghani, head of state-run South Gas Co., told reporters that Iraq's gas output is expected to...