Saudis braced Wednesday for a tripling in value added tax, another unpopular austerity measure after the twin shocks of coronavirus and an oil price slump triggered the kingdom's worst economic decline in decades. Retailers in the country reported a sharp uptick in sales this week of...

Oil prices will consolidate at around $40 a barrel this year, with a recovery gaining steam in the fourth quarter and into 2021 on OPEC-led production cuts and as economies limp back from coronavirus lockdowns, a Reuters poll showed Tuesday. The survey of 45 analysts forecast benchmark...

 Turkish power-ship operator Karadeniz Holding is preparing a bid to supply up to 1,000 megawatts of electricity to conflict-hit Libya and will submit it soon, the company said Monday. Libya, where Turkey supports the internationally recognised government based in Tripoli, has been hit...

Libya's National Oil Corporation (NOC) is hopeful that oil production will resume after international talks to end a blockade by forces based in the east of the North African country, a spokesman said Monday. The internationally recognized Government of National Accord (GNA) based in...