OPEC and other oil producers may need to take “some extraordinary measures” next year to rebalance the oil market, the OPEC secretary-general said on Sunday. “There is a growing consensus that ... a rebalancing process is under way. We are gradually but steadily achieving our...

ABU DHABI (Reuters) - The United Arab Emirates Energy Minister Suhail bin Mohammed al-Mazroui said on Sunday he was hopeful producers will reach a consensus on extending an oil output cut next month. “We are hopeful that the meeting in November will be a good meeting, that it will not...

NEW DELHI (Reuters) - State-run oil giant Saudi Aramco [IPO-ARMO.SE] is in talks with several Indian refiners and hopes to land a joint venture deal by next year, the company’s chief executive told Reuters on Sunday. Aramco, like other major oil producers, wants to tap rising demand...

DUBAI (Reuters) - Saudi Arabia’s government is changing the way it procures goods and services to save money, make the process fairer and aid local suppliers, the Finance ministry said on Sunday. The ministry, responsible for allocating tens of billions of dollars each year to keep...