(Fayez Nureldine/AFP/Getty Images)

Saudi Arabia’s oil exports fell in 2014 in ‘tough year’

Saudi Arabia will maintain output, Oil Minister Ali Al-Naimi said in December, according to the state-run Saudi Press Agency.
Oil Barrel

Brent trades near two-month high

Brent crude futures were little changed in London, paring an earlier increase of as much as 1.7 percent.
Iranian President Hassan Rouhani pauses before delivering the country's draft budget to the parliament speaker at the parliament in Tehran, Iran, Sunday, Dec. 7, 2014. (AP Photo/Vahid Salemi)

Iran nuclear deal must end all sanctions, Rouhani tells rally

Rouhani said on Wednesday that since taking office in 2013 his government had been able to escape a “dead end” in its relations with the outside world
(AP file photo/Reed Saxon)

Occidental pledges to $500 million oil exploration project in UAE

Abu Dhabi, the largest emirate in the United Arab Emirates, is seeking to boost oil production capacity to 3.5 million barrels a day by the end of 2017.
Saudi King Abdullah (AP Photo/Brendan Smialowski, Pool, File)

King Abdullah’s death not expected to change oil policy

No change in oil policy is expected.
A security guard stands at the Maroun Petrochemical plant at the Imam Khomeini port, southwestern Iran. (AP Photo/Vahid Salemi, File)

Iran sees ‘no threat’ from $25 oil

OPEC has made no decision to reduce its production ceiling despite a worldwide supply glut that’s driving down prices.
(AP Photo/ Nabil al-Jurani, File)

Iraq pumps crude at record level amid plummeting prices

The Middle East nation, holder of the world’s fifth-largest crude reserves, is rebuilding its energy industry after decades of wars and economic sanctions.
(Alexander Klein/AFP via Getty Images)

Meeting between Iran and Saudi Arabia foreign ministers delayed

A meeting between the foreign ministers of OPEC’s Iran and Saudi Arabia was delayed in part due to discord over falling crude prices, said Hossein Amir-Abdollahian, Iran’s deputy foreign minister for Arab and African affairs
(AP Photo/ Nabil al-Jurani, File)

Iraq to double exports of Kirkuk crude amid oil surplus

Iraq, holder of the world’s fifth-largest crude reserves, is rebuilding its energy industry after decades of wars and economic sanctions.
In this photo released by Saudi Press Agency, Deputy Crown Prince of Saudi Arabia, Prince Muqrin bin Abdulaziz Al Saud, front, receives Venezuelan President Nicolas Maduro, center, at the King Khalid International Airport in Riyadh, Saudi Arabia, Sunday, Jan. 11, 2015. (AP Photo/SPA)

Venezuela, Saudi leaders meet and talk oil prices in Riyadh

The official Saudi Press Agency reported that the leaders discussed areas of cooperation between the two OPEC-member countries and ways to promote bilateral ties