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

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.
Ecuador's President Rafael Correa delivers a speech in Quito, Ecuador, Thursday, Aug. 13, 2015. (AP Photo/Dolores Ochoa)

Ecuador reveals the pain inside OPEC: It’s pumping oil at a loss

President Rafael Correa said on Tuesday that the South American nation is receiving as little as $30 a barrel for its crude, while production costs average about $39.
(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.
The Ain Amenas gas field in Algeria, where Islamist militants raided and took hostages Wednesday Jan. 16, 2013. (AP Photo/Kjetil Alsvik, Statoil via NTB scanpix, File)

More gas found in Algeria region hit by 2013 hostage-taking

An al-Qaida splinter attacked the nearby Ain Amenas gas plant in January 2013, resulting in the death of 40 plant workers, mostly foreigners.

Algeria oil corruption trial begins after 5-year delay

In a packed courthouse that included the ambassadors of Italy, the U.S. and Germany, prosecutors read out the charges against former head of Sonatrach, Mohammed Meziane, his two sons, and 16 other company officials.
Categories: General
H.E. Youcef Yousfi, the Algerian Minister of Energy and Mines, gives the opening keynote during CERAWeek on Wednesday, March 9, 2011, in Houston.  (Photo: Nick de la Torre/Houston Chronicle)

Algeria to boost oil production in face of falling prices

Youcef Yousfi told the parliament Thursday that Algeria was working on dozens of deposits and studying the possibility of boosting production to increase revenues.
(AP Photo/Charles Rex Arbogast, File)

Oil falls to 5-year low as supply glut seen lingering

Futures plunged 46 percent this year, set for the biggest annual drop since 2008, as the Organization of Petroleum Exporting Countries resisted supply cuts to defend market share in response to the highest U.S. output in three decades.
(AP Photo/Nabil al-Jurani, File)

Working overseas dangerous, lucrative for oil and gas employees

Terrorist groups have increasingly been targeting oil and gas workers for their lucrative kidnapping ransoms.
Iran's Minister of Petroleum Bijan Namdar Zangeneh (center) speaks to journalists prior to the start of a meeting OPEC in 2013. (AP Photo/Ronald Zak)

Iran vows to guard oil-market share as OPEC to review output

Iran’s crude output has languished under international economic sanctions that deter foreign energy investors and limit its exports to approximately 1 million barrels a day.
Iran's Minister of Petroleum Bijan Namdar Zangeneh (AP Photo/Hans Punz)

Oil slide prompts Iran’s oil minister to visit UAE

OPEC producers have stepped up their diplomatic visits before the group’s meeting in Vienna, potentially seeking a consensus on how to react to oil prices at a four-year low.