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 (...)

Saudi Arabia’s energy minister  Khalid Al-Falih: said he expected an Opec-led deal to cut output to be extended to the rest of 2017 “and possibly beyond”. Photograph: Reuters

Saudi Arabia’s energy minister Khalid Al-Falih said on Monday that oil markets were rebalancing after years of oversupply, but that he still expected (...)

Brent and WTI are on track for their largest two-day percentage loss since February 2016

Oil prices fell by a further 3 per cent on Friday, after prices had crashed to five-month lows in the previous session, as concerns about global overs(...)

A Russian oil worker  outside the Siberian city of Kogalym. There are signs that Russia’s output may be falling but that exports remain high as its producers shield their core export markets at the cost of lower domestic supplies or by cutting into inventories

Oil prices dipped on Monday on signs that global fuel markets remained bloated despite Opec-led crude production cuts that have been more successful t(...)

Iraq, which many analysts expected not to reduce supply, said on Thursday it had cut production by 160,000 barrels per day since the beginning of January. Photograph: iStock

Oil prices rose on Thursday, supported by signs that Opec is starting to cut output and expectations of strong demand growth in China. But rising US c(...)

Oil prices shot to highest levels since mid-2015 after Opec countries and other producers agreed to reduce output. Photograph: Heinz-Peter Bader/Reuters

Irish 10-year bond interest rates have gone back over 1 per cent for the first time since February, as higher oil prices led to speculation of a rise(...)

Both Goldman and Barclays say oil prices will quickly move above $50 per barrel if a production cut is agreed by Opec. Photograph: Danny Lawson/PA Wire

Oil prices fell over 1 per cent on Tuesday on market jitters over whether producer cartel Opec will be able to hammer out a meaningful output cut duri(...)

An oil refinery in Venezuela. Opec would like a deal to limit output. Photograph: Carlos Garcia Rawlins/Reuters

Oil prices rose more than 3 per cent to a three-week high on Monday, catching a lift from a weaker dollar, as major oil producing countries appeared (...)

“Higher production from Libya, Nigeria and Iraq are reducing the odds of such a deal rebalancing the oil market in 2017”

Oil prices on Tuesday fell from one-year highs touched the previous day as there were doubts that a planned production cut would have the desired effe(...)

Opec said other details of the plan will be known at its policy meeting in November, leaving unanswered when the agreement will come into effect. Photograph: Ramzi Boudina/Reuters

Oil prices rose nearly 3 per cent on Thursday, extending their rally on optimism over Opec’s first output cut plan in eight years, despite some analys(...)

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