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Saudis' biggest oil surge in five years barely steadies OPEC output

Saudi Arabia’s biggest oil-production surge in five years was only enough to keep OPEC’s output steady last month, as losses elsewhere in the group piled up.

ADNOC’s Al Yasat awards EPC contract of Bu Haseer field to NPCC

Al Yasat Company for Petroleum Operations, a subsidiary of the Abu Dhabi National Oil Company has awarded the Engineering, Procurement and Construction contract, for the full development of the offshore Bu Haseer field, to Abu Dhabi’s National Petroleum Construction Company.

India has "Plan D" for Iran oil as Trump adds sanction pressure

One of Iran’s biggest oil buyers said it has enough alternative sources of crude to replace any supplies cut off by U.S. sanctions on the Persian Gulf state -- even if shipments stop completely.

Iran is running out of options on oil

Iran’s position in the oil market is looking weaker than ever as a bruising OPEC meeting and tightening net of U.S. sanctions leave it with fewer friends and fleeing customers.

One casualty of Trump's tough Iran stance? U.S. pump prices

One unintended consequence of Donald Trump’s plan to choke off Iran’s oil exports could be renewed pain at the pump for millions of Americans, a risky political prospect with mid-term elections just months away.

Libya State Oil Co. confident eastern rival can't ship crude

The chairman of Libya’s National Oil Corp. in Tripoli said he’s confident that the U.S. and other world powers would help block authorities in eastern Libya from exporting any crude after militia captured key ports there.

Some top oil buyers are thinking about shunning Iranian oil

At least some buyers of Iranian supplies in the world’s biggest oil market are considering acquiescing to U.S. President Donald Trump’s demands.

Oil gains as harder U.S. stance on Iran overshadows Saudi pledge

Oil rose to a one-month high as the risk of a supply crunch continued to buoy markets, with a U.S. demand that Iran’s customers halt their imports overshadowing Saudi Arabia’s promise to boost output.

OPEC supply buffer shrinks as it heeds call to pump more oil

OPEC is heeding consumers’ calls to pump more crude, but that’s only making the oil market more nervous.

U.S. pressing allies to end Iran oil imports by Nov. 4, official says

The U.S. is pressing allies to end all imports of Iranian oil by a Nov. 4 deadline and doesn’t want to offer any extensions or waivers to that timeline, a decision that sent oil prices surging on expectations it will tighten energy markets significantly more than expected.

World's LNG giant pumping $20 billion into U.S. oil, gas

Qatar Petroleum, the world’s biggest seller of liquefied natural gas, is looking to get even larger, investing $20 billion in America’s oil and gas fields at a time when rival U.S. exporters are expanding.

Oil pauses advance as Saudis plan record July output

Crude oil’s advance slowed as Saudi Arabia was said to plan record crude oil production in July.

Aramco CEO pledges to meet oil demand after OPEC strikes a deal

Saudi Arabia’s state oil giant will meet customer demand for its crude after the country’s energy minister cemented a deal to boost global supply, according to Saudi Aramco CEO Amin Nasser.

Goldman Sachs says U.S. oil drama trumps OPEC's Vienna chaos

The most dramatic events in the oil market last week occurred in North America as opposed to OPEC’s get-together in Europe.

Egypt may have issued last LNG tender, paving way for exports

Egypt may have just issued its last LNG tender, setting the stage to resume exports next year.

Iran doesn't expect oil customers to get sanctions waivers

Iran said it doesn’t believe buyers of its oil will get waivers from the U.S. government that would allow them to continue purchasing cargoes after President Donald Trump’s renewal of sanctions.

U.S. asks Japan to halt purchase of Iran oil in harder stance

The U.S. has asked Japan to completely halt oil imports from Iran, going beyond the reductions that were demanded when sanctions were imposed earlier this decade, according to people with knowledge of the matter.

OPEC reaches decision on output boost

Brent crude gained in London as OPEC ministers were said to agree upon a deal in principle to boost production.

Mubadala Petroleum completes acquisition of 10% interest in Egypt's Shorouk Concession

Mubadala Petroleum announces that it has completed the acquisition from Italy’s Eni of a 10% participating interest in the offshore Shorouk Concession in Egypt, which contains the super giant Zohr gas field.

Saudis take oil consumers' side as OPEC nears pivotal talks

With fewer than 24 hours to go before a pivotal meeting, Saudi Arabia urged OPEC to help consumers by boosting oil supply as opposition from arch-rival Iran showed signs of wavering.