President Dilma Rousseff on Monday sharply defended the chief executive officer of the Brazil’s state-run oil company despite allegations she was told years ago about some of the irregularities that are ballooning into the nation’s biggest corruption scheme yet.
Saudi Arabia’s oil chief on Sunday dismissed allegations that his kingdom conspired to bring down oil prices in order to harm other countries and told a summit of Arab energy leaders that he was confident the market would stabilize.
Plunging crude prices are hitting oil producers especially hard in places like Kansas, where the industry is dominated by smaller, independent operators who depend more heavily on the cash flow from producing wells to pay for drilling new ones.
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