King Salman: Syria, Iran, oil and expanding commercial ties on the agenda. Photograph:  Bandar al-Jaloud/AFP/Getty Images

King Salman’s arrival in Moscow on Wednesday on a historic three-day official visit, the first ever by a Saudi monarch, signals the kingdom’s recognit(...)

A gas station submerged under flood waters from Tropical Storm Harvey in Rose City, Texas. Photograph: Reuters

Crude futures fell on Friday, partly reversing sharp gains from the previous session, amid ongoing turmoil in the oil industry following Hurricane Har(...)

Oil in New York has fluctuated this month in the narrowest range since August 2003. Photograph: iStock

Oil halted its slide near $48 (€41) a barrel as industry data showed US crude stockpiles declined again, further trimming an inventory surplus. Futur(...)

Oil producers prepare for St Petersburg meeting as cuts to production appear not to be having desired effect on prices. Photograph: iStock

Opec and Russia’s plan to clear the global oil glut has not worked as they hoped, but there is little expectation the world’s largest producers will a(...)

US oil output last week increased by the most since January. Photograph: iStock

Oil slipped toward $45 a barrel as investors weighed expanding US production against declining crude and gasoline stockpiles. Futures dropped as much(...)

“The problem is as prices climb higher, US shale producers will pump more. The top for West Texas is probably about $55 a barrel.”  Photograph: iStock

Oil is riding its longest winning streak since December on optimism Saudi Arabia will support an extension to Opec-led output cuts just as US stockpil(...)

Oil-producing nations are likely to fully comply with the reduction deal, with curbs due to bring global crude markets into balance early this year. Photograph: iStock

Oil headed for a second weekly increase as Opec and other producing nations continued with output cuts to reduce bloated global inventories and stabil(...)

The markets were caught off guard by Trump’s election in November  but investors have decided to focus on the positive – for the moment at least

For financial market rollercoaster junkies fearing it will be hard next year to top volatility inspired by Brexit and Donald Trump, Angela Merkel, Mar(...)

An oil refinery plant in Russia. Photograph: Andrey Rudakov/Bloomberg

Oil extended the longest winning streak in more than four months before Opec and other producing nations start reducing output to stabilise the market(...)

Khalid al-Falih: Saudi Arabia’s energy minister  predicts that supply and demand will align at some point in 2017. Photograph: Reuters/Heinz-Peter Bader

The first half. No, the second. Certainly this year. Or next. That’s the range of views you’ll hear if you ask the International Energy Agency (IEA), (...)