Russia is pumping record volumes of crude and Saudi Arabia is almost there too, with little reaction from the market
opec countries
crude oil price
Oil holds gains, eyes on $100 a barrel, but Asia markets down
Crude has motored in recent weeks on concerns about supplies after sanctions are imposed on Iran next month
crude oil future price
Oil advances as Trump and Saudi king discuss market stability
President Donald Trump and King Salman bin Abdulaziz of Saudi Arabia spoke on the phone Saturday and discussed efforts to maintain supplies to ensure stability of the market and growth of the global economy
crude oil
What oil at $100 a barrel would mean for the world economy
$100 would mean less for global growth in 2018 than it did after the 2011 spike, because economies are less reliant on energy and because the shale revolution cushioning the US
crude oil price
Trump discusses oil market, global economy in call to Saudi king
The White House said Trump and the King spoke on ‘issues of regional concern’
Crude price
Video: Why Trump is under pressure to boost oil output
US President has repeatedly lashed out at OPEC on Twitter in recent months, piling pressure on Riyadh, a major ally, to boost output.
non-OPEC
OPEC agrees to boost oil production after reaching Iran compromise
OPEC will meet again on Saturday with non-members, including Russia, to ratify Friday’s agreement
non-OPEC
Russia-Saudi plans for ‘super-OPEC’ could reshape global oil order
Russia and Saudi Arabia are considering inviting all 24 countries to join a permanent body with its own constitution and secretariat
crude oil
Saudis take oil consumers’ side as OPEC nears pivotal talks
The odds of the Organization of Petroleum Exporting Countries reaching a deal on Friday have increased through the week
commodity
Video: What is OPEC?
Oil isn’t just petrol for your car, it’s an ingredient in a lot of what we use. That means the cost of these products can be affected by the fluctuating price of oil. That price is largely decided by supply and demand and the collective actions of OPEC, an organisation that provides 40% of the world’s oil.