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

Saudi growth to slow as kingdom adjusts to cheaper oil

Saudi Arabia’s gross domestic product will grow by 2.8 percent this year and 2.4 percent in 2016, the IMF said in e-mailed statement at the conclusion of its regular country consultation.
(Alexander Klein/AFP/GettyImages)

Algeria calls for non-OPEC output cut to stop oil price slump

Algeria’s initiative to coordinate an OPEC response to tumbling crude prices had the backing of cash-strapped fellow members Libya and Venezuela.
(Jerry Lara/San Antonio Express-News)

Oil falls near 6-year low as U.S., OPEC keep pumping

Oil has slumped more than 30 percent from this year’s peak in June on speculation the global surplus will be prolonged.
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

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,
An oil well owned an operated by Apache Corporation in the Permian Basin are viewed on February 5, 2015 in Garden City, Texas. (Photo by Spencer Platt/Getty Images)

Samson Resources in restructuring plan, to file for bankruptcy

Samson Resources has made a deal with a group of creditors to restructure its balance sheet as part of a plan that involves seeking Chapter 11 bankruptcy protection next month, the company said late Friday.
A Noble Energy rig off the south coast of Cyprus in the Mediterranean Sea. (AP Photo/Cyprus Press and Information Office, File)

Fitch: More offshore drillers could seek bankruptcy after Hercules

Hercules Offshore may not be the last cash-strapped offshore driller to file for chapter 11 bankruptcy protection, as energy companies struggle to cope financially with one of the worst downturns in recent decades, Fitch Ratings said Friday.
(AP Photo/Mikhail Metzel)

Russia’s largest oil producer bucks global slump in drilling

OAO Rosneft, the world’s largest traded oil producer, increased drilling by 27 percent in the first seven months of the year, according to a statement. That helped the company stabilize output in the first half, Chief Executive Officer Igor Sechin said in Moscow on Friday.
A  2010 file photo shows a sign at a BP  station in London. (AP Photo/Alastair Grant, File)

FERC judge rules against BP in gas manipulation case

The judge’s decision will be taken up for consideration by FERC’s five-member commission, which will issue a final ruling on the case.
(Jeff Pachoud/AFP/Getty Images)

Retail gasoline prices down a nickel across Texas

AAA Texas on Thursday reported the nationwide price at the pump held steady at $2.62 per gallon.
Marine police officers hold pieces recovered from the helicopter which crashed into a lagoon at the Oworonshoki district of Lagos, on August 12, 2015.  At least four people were killed and six wounded when a helicopter plunged into a lagoon in Nigeria's commercial hub Lagos on August 12, emergency services said. (PIUS UTOMI EKPEI/AFP/Getty Images)

Oklahoma man killed in helicopter crash in Nigeria

Marine police and fishermen calling for body bags raced to a dock Thursday and delivered the bodies of Capt. Joseph “Jay” Wyatt of Oklahoma and First Officer Peter Bellow of Nigeria, according to the helicopter’s owner, Bristow Group of Houston, Texas. A statement from the company did not give Wyatt’s home town.