The U.S. wants to reduce Iran’s oil revenue to zero, the State Department director of policy planning said Monday. "We are working to minimize disruptions to the global market but we are confident there is sufficient global spare oil production capacity," Brian Hook told reporters....

President Donald Trump said Saturday that he had received assurances from King Salman of Saudi Arabia that the kingdom will increase oil production, "maybe up to 2,000,000 barrels" in response to turmoil in Iran and Venezuela. Saudi Arabia acknowledged the call took place, but mentioned no...

Oil major Royal Dutch Shell has exited the Majnoon oilfield and handed over all its operations to the state-run Basra Oil Co., two Iraqi oil officials close to the deal said on Wednesday. Officials from Shell and Basra Oil Co. met on Wednesday to mark the complete exit of Shell and the...

Asian markets fell Monday as fears of a global trade war continue to dog investors, with Donald Trump threatening fresh tariffs on European cars and reports he is considering curbs on Chinese investment the US. There was little sign of relief after equities suffered a pummelling last...