Tag: Saudi Arabia

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  • Iran and oil production

    Iran won’t slow production to help raise oil prices

    Iran on Wednesday said it would not restrain oil output as part of a global pact to freeze production and help prop up oil prices. The country’s officials are focused on recapturing the market share that was lost after years of US sanctions. Non-OPEC Russia and OPEC leader Saudi Arabia, have been in talks to […]

  • Oil prices gain and then fall on OPEC talks

    Oil gives up gains as hopes for a production cut fizzle

    Oil prices gained 5% on Tuesday but then gave back all that ground as talks between Saudi Arabia and Russia failed to reduce production. Oil ministers from the two countries met on Tuesday and agreed to freeze production at current rates — a small step that will do almost nothing to reduce the massive supply […]