Oil slips with OPEC still working to bridge gaps on output plan
Oil edged lower in New York, with OPEC and its partners engaging in a diplomatic push to agree on output levels before a key meeting on Thursday.
international relations
Oil rises despite OPEC+ struggle for consensus on output, second day of meeting postponed until tomorrow
Oil erased earlier losses with OPEC+ seeking more time to reach a deal on production policy after a meeting broke down without an agreement.
Here’s the latest on the resurgence of Libya’s oil industry
Libya’s oil industry reached a milestone over the past week with the reopening of the last of its oil fields and ports following a truce in a years-long civil war.
Oil steadies as Saudis say nobody should doubt OPEC’s commitment
Oil steadied as Saudi Arabia vowed that OPEC and its partners will do what’s necessary to balance the market.
Libya reopens biggest oil field, giving OPEC+ a new headache
Libya took a major step toward reviving its battered oil industry by reopening its biggest field, presenting a new headache for OPEC+ as the alliance of major producers tries to curb global supplies.
Libya’s oil crescent gets back to work as Sarir field opens
Libya’s oil industry continued to revive this week following a truce between the main factions in the OPEC member’s devastating civil war.
Threat of Venezuela sanctions has Reliance buying Canadian crude
Venezuela’s dwindling oil exports were dealt another blow as one of India’s top refiners secured millions of barrels of Canadian crude on concern that the U.S. is poised to step up sanctions against Caracas.
Germany to push Greece and Turkey to resume talks on energy clash
German Foreign Minister Heiko Maas urged Greece and Turkey to restart talks over their competing claims to economic sovereignty in contested waters of the eastern Mediterranean as he visits the NATO allies on Tuesday.
Virus era threatens Europe’s war on dirty imports
Europe’s plan to put a price on dirtier imports risks getting caught up in global trade tensions as the fallout from the coronavirus pandemic eclipses climate change as the biggest challenge for governments.
China readies for record-breaking U.S. oil haul in September
U.S. oil exports to China are set to reach a record next month in a sign that Beijing is stepping up purchases to meet its commitments under a landmark trade deal.
Venezuela’s fuel shortage set to get worse after refinery halted
Venezuela’s fuel crisis is poised to deteriorate even further after one of its biggest refineries was halted over the weekend following a nearby oil spill.
Iran briefly seizes oil tanker near Strait of Hormuz, says US
The Iranian navy has boarded and briefly seized a Liberian-flagged oil tanker near the strategic Strait of Hormuz amid heightened tensions between Tehran and the US, an American military official said.
Greece welcomes French intervention in Eastern Mediterranean
Greece's prime minister has warmly thanked France for boosting its military presence in the eastern Mediterranean.