The US strategic petroleum reserves are the world’s biggest, standing at about 688 million barrels, a week’s worth of global oil demand. Photograph: Getty Images

Oil prices fell on Tuesday after US president Donald Trump proposed the sale of half the country’s strategic oil reserves, even as producer club Organ(...)

Russia and Saudi Arabia between them produce about 20 million barrels a day of crude, equivalent to one-fifth of global consumption. Photograph: Sergei Karpukhin/Reuters

Oil rallied after Saudi Arabia and Russia stoked expectations that production cuts might be extended for nine months. While output curbs introduced (...)