OPEC faces a critical moment in its 60-year history with the coronavirus crushing crude demand and prices, discord among its members, and threats from a world seeking cleaner fuels. Founded on September 14, 1960, by Iraq, Iran, Kuwait, Saudi Arabia and Venezuela who sought to control crude...

Oil slipped on Friday and were on track for a 3% weekly decline due to mounting worries about resurgent coronavirus infections crushing fuel demand and as Libyan crude exports resume. Brent crude LCOc1 was down 20 cents at $41.73 a barrel by 12:02 p.m. EDT (1602 GMT), while U.S. West Texas...

The number of Americans filing new claims for unemployment benefits unexpectedly increased last week, supporting views the economic recovery from the COVID-19 pandemic was running out of steam amid diminishing government funding. Initial claims for state unemployment benefits totaled a...

Iraqi Oil Minister Ihsan Abdul Jabbar expects to reach an agreement soon with the OPEC group over increasing Iraq's crude oil exports, state news agency INA cited him as saying Thursday. OPEC's second-biggest producer, Iraq has failed in the past to fully comply with OPEC oil output...