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Crude oil set for biggest quarterly price rise since 2009 amid OPEC cuts, sanctions

"While OPEC, and above all Saudi Arabia, appeared in November to be obeying US President Trump's repeated demands to increase oil production, his tweets now are more likely to fall on deaf ears," Commerzbank said in a note.

Saudi Aramco to buy SABIC for $69 billion in one of the biggest deals in global chemical industry

The deal could inject billions of dollars into the PIF, giving it the firepower to proceed with its plans to create jobs and diversify the largest Arab economy beyond oil exports, including a mega business zone in the northwest of the country.

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China grants first crude import license to private trading firm

Zhejiang Wuchan Zhongda, a venture between government fund Zhousan Communications Investment Group and Wuchang Zhongda Group, is the first privately owned trading company to receive a crude import license from the ministry.

Ghana's first oil exploration licensing round attracts global majors

The interest is a major vote of confidence in Ghana, which is keen to unlock more resources after it began pumping from its flagship offshore Jubilee field in 2010.

Oil edges higher after Russia indicates larger output cut

A Russian Energy Ministry source said Moscow was ready to contribute a cut of around 200,000 bpd, which is more than the 150,000 bpd sources previously said it would contribute.

Take a stand

India seems to be shifting its position at WTO, aligning with multinationals

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Oil prices stabilise after 'Black Friday' plunge

Front-month Brent crude oil futures were at $59.23 per barrel at 0202 GMT, up 43 cents, or 0.7 percent, from their last close.

Crude comfort

Lowering of oil prices, recovery of rupee, bring some relief to government.

Global oil prices fall as supply rises and demand growth slows

"As OPEC exports continue to rise, inventories continue to build, which is putting downward pressure on oil prices," analysts at Bernstein Energy said. "A slowdown in the global economy remains the key downside risk to oil."

Oil falls on oversupply worries despite Iran sanctions

Financial markets have been hit hard by a range of worries, including the US-China trade war, a rout in emerging market currencies, rising borrowing costs and bond yields, and economic concerns in Italy.

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Fuel prices at an all-time high: News in Numbers

How the government is explaining the rise in petrol and diesel prices. Take a look in today’s News in Numbers.

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