The Organisation of Petroleum Exporting Countries agreed to cut production to a range of 32.5 million to 33 million barrels a day after the meeting in Algiers. Photograph: iStock

Oil held gains after the biggest advance since April as Opec agreed to reduce production for the first time in eight years, surprising traders who had(...)

Oil has fluctuated since August’s rally on speculation the Organisation of Petroleum Exporting Countries (Opec) and Russia will agree on ways to stabilise the market when they meet later this month. Photograph: iStock

Oil extended gains after weekly government data showed US inventories dropped to the lowest since February, trimming stockpiles at the highest seasona(...)

Oil futures lost as much as 0.4 per cent in New York after dropping 0.5 per cent the previous two sessions. Photograph: iStock

Oil slid for a third day as Canadian producers moved to resume output after wildfires and as the Organisation of Petroleum Exporting Countries (Opec) (...)

  Donald Trump speaking  in Bismarck, North Dakota, on Thursday. Photograph: Jonathan Ernst/Reuters

Republican presidential candidate Donald Trump said he would rescind “job-destroying” environmental actions by the Obama administration within 100 day(...)

Brent crude rose above $50 a barrel for the first time in more than six months as a drop in US stockpiles accelerated a rebound from a 12-year low after global disruptions trimmed the market’s glut.

Brent crude rose above $50 a barrel for the first time in more than six months as a drop in US stockpiles accelerated a rebound from a 12-year low af(...)

More than 1 million barrels a day of Canadian output was taken off line by a wildfires that ravaged the region. Photograph: PA

Oil dropped for a fourth day as producers in Canada started the process of resuming operations after wildfires crimped output and as Iran continued to(...)

Crude prices have rebounded about 80 per cent from a 12-year low in January. Photograph: Reuters

OPEC’s strategy to defend market share over prices is working as oil approaches $50 a barrel amid rising demand and declining output from producers in(...)

Oil prices fell as concerns mount that a rally since January is fizzling out, while analysts forecast another rise to record levels for US crude stock(...)

Opec didn’t look like the group that American diplomat Henry Kissinger once described as able to blackmail national economies and whole industries.

Opec has abandoned all pretence of acting as a cartel. It’s now every member for itself. At a chaotic meeting Friday in Vienna that was expected to la(...)

Iran has said it will announce plans to expand output by 500,000 barrels a day

Oil pared its first weekly gain in a month as Libya sought to increase output and Russia ruled out military retaliation against Turkey for down(...)

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