(ALEXANDER KLEIN/AFP/Getty Images

For OPEC, this year’s painful oil slump will bring gains in 2016

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With consumption set to grow by 1.4 million barrels a day, OPEC and its de facto leader Saudi Arabia could seize the chance to broaden their market as competitors damaged by the price slump fall off.

Commentary: 10 challenges faced by the global LNG market

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We recently looked at the restart of the first Japanese nuclear reactor in four years, and assessed its impact on Japanese oil demand. It was somewhat burying the lede, however, not to address the impact on LNG demand. So with Japan’s developments still fresh in our minds, here are ten challenges faced by the global LNG […]
A handout picture released by the Saudi Press Agency (SPA) shows Saudi Arabia's new King Salman bin Abdul Aziz (C) praying along with Kuwaiti Emir Sheikh Sabah al-Ahmad Al-Sabah (2nd L), King Hamad bin Issa al-Khalifa of Bahrain (L) and other dignitaries and officials during the funeral of his half-brother late King Abdullah in Riyadh on January 23, 2015. The desert kingdom's elderly King Abdullah died early in the morning and was replaced by his half-brother Salman as the absolute ruler of the world's top oil exporter and the spiritual home of Islam. AFP PHOTO / HO / SPA == RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO/HO/SPA" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS ==-/AFP/Getty Images

How much longer can Saudi Arabia’s economy hold out against cheap oil?

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Economists are predicting a budget deficit of as much as 20 percent of gross domestic product and the International Monetary Fund forecasts a first Saudi current-account deficit in more than a decade.
(Fayez Nureldine/AFP/Getty Images)

Saudi stocks bear market as oil slides on supply glut

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An unexpected increase in U.S. crude stockpiles and record oil production from Saudi Arabia in June has deepened concern that growing oversupply will continue to impact oil prices as nations tussle over market share.
Sen. Robert Menendez, D-N.J., listens during a congressional hearing. (AP Photo/Charles Dharapak)

Robert Menendez floats ‘strategic’ crude exports

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Sen. Robert Menendez, D-N.J., has historically opposed oil exports, but on Tuesday, he floated the possibility of “strategic” crude sales to U.S. allies while a nuclear deal with Iran is renegotiated.
An Iranian man walks past a mural displaying the Iranian map adorned in the colours of the country's national flag, on June 29, 2015 in Tehran. Despite agreeing the outlines of a nuclear agreement on April 2, the final talks between Iran and six powers led by the United States on turning it into a binding accord have hit difficulties on reaching a deal which would lift sanctions, paving the way for foreign investment to flow back, in exchange for curbs on Iran's nuclear activities. AFP PHOTO/BEHROUZ MEHRIBEHROUZ MEHRI/AFP/Getty Images

With Iran back, OPEC may boost output to another record

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The global oil market is already in surplus by about 3 million barrels a day, with Saudi Arabia and Iraq responsible for OPEC’s oversupply in the past six months,
Noble Energy hunts for oil offshore Israel in the Tamar field. The Houston-based oil company has stalled its Israel investments after a dispute with the country's anti-trust regulators. (Noble Energy)

Noble reaches deal with Israel over natural gas development

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The deal sets a price ceiling for future sales to Israeli companies and commits the gas firms to complete the development of the country’s largest gas field, known as Leviathan, by 2020.
FILE - In this Dec. 22, 2014 file photo, an Iranian oil worker rides his bicycle at the Tehran's oil refinery south of the capital Tehran, Iran. Oil prices that slumped steeply earlier this year may take another hit once a historic deal between the West and Iran allows that country to start pouring more crude into a market already brimming with supply. (AP Photo/Vahid Salemi, File)

Iran targets 45 oil and gas projects in plan to boost production

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Oil producers such as BP Plc and Royal Dutch Shell Plc have expressed interest in developing Iran’s reserves, the world’s fourth-biggest, when sanctions are removed following last month’s nuclear agreement with world powers.
(AP Photo/Nabil al-Jurani, File)

Iraq’s oil output climbs to record despite fighting

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Iraq needs to keep increasing oil production because lower oil prices have curbed government revenue at a time when Islamic State militants captured parts of Iraq’s north last year.
(Fayez Nureldine/AFP/Getty Images)

Saudi Aramco raises Asia crude pricing, leaves light to U.S. unchanged

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Refining margins in Asia have come under pressure in recent months as refiners there increased processing runs and Saudi Arabia increased diesel exports from its new Yasref refinery, a joint venture with China’s Sinopec that reached full capacity in June.