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OPEC’s recent decision not to cut production makes sense for the long term, former OPEC Secretary General said Friday while dismissing claims that the oil cartel has lost influence over the global market. Speaking to The Anadolu Agency on the sidelines of the fifth Bosphorus Summit in...
(Reuters) - Libya's eastern Es Sider oil export port, the country's biggest, has been shut due to fighting nearby between forces representing the country's competing governments, an oil official said on Sunday. Air strikes on Saturday by forces loyal to Libya's recognized...
Genel Energy is due to begin transferring Iraqi natural gas to Turkey by the end of 2017, and its volume thereafter will rise year on year, said Mehmet Sepil, president of Genel Energy. The Turkish Ministry of Energy and Natural Resources Taner Yildiz...
The American benchmark for crude oil price has dipped below the $60 per barrel mark, its lowest point in five years, on Thursday. West Texas Intermediate dropped to $59.88 per barrel at 1930GMT, its lowest point since July 2009. ...
(Reuters) - Benchmark Brent crude slipped on Tuesday to its lowest in five years, dropping below $66 a barrel after plunging more than 4 percent the day before on worries of a swelling supply glut. Oil prices are likely to remain around $65 a barrel for the next six or...
n">(Reuters) - The average price of a gallon of gasoline in the United States has dropped one dollar since early May, the lowest price in more than four years, according to the Lundberg survey released Sunday. Prices for regular-grade gasoline fell to $2.72 a gallon, down 12...
Saudi Arabia and Gulf countries are to maintain their market share and resist falling oil prices, say experts. The Organization of the Petroleum Exporting Countries, OPEC, convened on Nov. 27 in Vienna to devise a strategy against falling oil prices,...
Russia aims to sell natural gas to Turkey at a six percent discount rate that could be increased further to 15 percent later, Russian Energy Minister said Thursday. “If the market conditions get more beneficial, we could increase our six percent discount offer to 15 percent...
(Reuters) - Saudi Arabia blocked calls on Thursday from poorer members of the OPEC oil exporter group for production cuts to arrest a slide in global prices, sending benchmark crude plunging to a fresh four-year low. Brent oil fell more than $6 to $71.25 a barrel after OPEC...
BEIRUT, Nov 23 (Reuters) - Syria's state spending is expected to rise 12 percent to 1.55 trillion Syrian pounds ($9.10 billion) next year, driven by higher social support costs, state news agency SANA reported citing a draft budget presented to lawmakers on Sunday....
Islamic State has consolidated its grip on oil supplies in Iraq and now presides over a sophisticated smuggling empire with illegal exports going to Turkey , Jordan and Iran, according to smugglers and Iraqi officials. Six months after it grabbed vast swaths of territory, the...
Reporting by Maher Radhwan; Translation by Yusra Ahmed HOMS (Zaman Al Wasl)- The number of Syrian disabled has increased significantly in the last three years since the revolution started in March 2011, as a result of indiscriminate bombing on...
Syria's once-promising economy has been set back more than 30 years by its brutal civil war, economists say, and it may never recover. Squeezed by sanctions and the fallout of the more than three-year-old conflict, the government faces dwindling revenues and is increasingly...
(Reuters) - Airbus is aiming to deliver the first A350 jetliner around Dec. 12, with customer Qatar Airways being the first recipient, a representative of the airline said on Tuesday. The A350, Airbus' newest plane and made with carbon-fiber composite fuselage, is a direct...
Japan’s economy fell into recession Monday in a set back for Prime Minister Shinzo Abe’s administration, local media reported. The second successive quarter of negative growth will put pressure on the government to postpone a planned sales tax increase, the Kyodo news agency...
(Zaman Al Wasl)- Al-Qaeda Syria’s wing al-Nusra Front on Wednesday celebrated its latest victory in Idlib province against West-backed rebel groups . Al-Nusra Front posted online photos showing the spoils taken from...
(Reuters) - An oil field in southwest Libya has closed down, officials said on Sunday, becoming the third oil facility in the chaotic country to shut within a week. The El Feel field, operated by Libya's National Oil Corporation (NOC) and Italy's ENI, shut down due to a power...
(Reuters) - A landmark deal to give global investors easier access to China's $3.9 trillion stock market lifted world shares to their highest in over a month on Monday, as tensions in Libya and Ukraine pushed up oil prices. Chinese shares jumped 2.5 percent and Hong Kong's Hang...
(Zaman Al Wasl)- Syrian regime’s Education Ministry decided to halt the salaries of 6,000 teachers in the Kurdish-dominated city of Afrin northern Aleppo, in step to press more pressure on the people of the disputed area, an opposition figure...
