ALGIERS OPEC's leader Saudi Arabia and its biggest oil-producer ally outside the group, Russia, ruled out on Sunday any immediate, additional increase in crude output, effectively rebuffing U.S. President Donald Trump's calls for action to cool the market.
ALGIERS OPEC and its allies reduced oil output in August as a drop in Iranian supply due to U.S. sanctions derailed their attempts to raise production to agreed levels, delegates said on Saturday as the energy producers prepared to hold talks in Algiers.
ALGIERS OPEC and other oil producers are discussing the possibility of raising output by 500,000 barrels per day (bpd) to counter falling supply from Iran because of U.S. sanctions, a source familiar with the discussions told Reuters.
LONDON Oil prices fell on Friday as a rise in stocks of refined petroleum products offset a sharp decline in U.S. crude inventories to the lowest level since 2015.
LONDON Iran's oil exports could fall by as much as two-thirds by the end of the year because of new U.S. sanctions, putting oil markets under huge strain amid supply outages elsewhere in the world.
TUNIS/LONDON Libyan oil production could face protracted disruption as factions in the east seek to seize control of crude exports, adding pressure to a tight global market.
BENGHAZI, Libya/LONDON Libya's oil ports of Hariga and Zueitina appeared to be working normally on Tuesday, sources said, after eastern-based forces said they had handed control terminals in the east to a parallel National Oil Corporation (NOC) in Benghazi.
VIENNA OPEC agreed with Russia and other oil-producing allies on Saturday to raise output from July, with Saudi Arabia pledging a "measurable" supply boost but giving no specific numbers.
VIENNA OPEC scrambled on Thursday to agree on raising oil output, with Saudi Arabia warning of shortages but Iran holding out against a deal amid the prospect of lower exports due to U.S. sanctions on Tehran. | Video
VIENNA Libya's oil output has been slashed to between 600,000 and 700,000 barrels per day (bpd) from more than one million following clashes at its Ras Lanuf and Es Sider oil terminals, a Libyan oil source said on Wednesday.