OPEC and Russia moved closer Wednesday to agreeing cuts in oil production from next year despite pressure from U.S. President Donald Trump to reduce the price of crude. OPEC meets Thursday in Vienna, followed by talks with allies such as Russia on Friday. OPEC's de facto leader, Saudi...

Dubai's ruler has resisted efforts by Kuwait to release nearly $500 million in frozen funds at the heart of a money laundering probe straining relations between the two Gulf allies, according to correspondence seen by Reuters. The investigation is taking place as the United Arab Emirates...

OPEC has problems with some oil producers, and the reasons for Qatar's exit from the organisation must be examined, Iranian Oil Minister Bijan Zanganeh said Tuesday, according to the Islamic Republic News Agency (IRNA). Qatar said Monday it will quit OPEC to focus on gas in a swipe at...

France and Germany sought on Monday to salvage a proposed EU tax on big digital firms by narrowing the focus to cover only companies’ online advertising revenue, a European source said.  The two countries will try to agree a text to put to other EU countries when finance...