Rex Tillerson is likely to be a lightning rod for some senators as he seeks confirmation

Rex Tillerson, Trump's secretary of state nominee, is a flexible pragmatist

The downward spiral of oil prices and the reluctance to reduce production are threatening to destabilise economies and governments in countries that are already fragile

Clifford Krauss & Rick Gladstone: Oil price drops raise fears of unrest

Experts worry that Beijing is exporting its worst practices abroad

China's global ambitions, with loans and strings attached

The global powers' nuclear deal with Iran paves the way for the country's oil industry to get back on its feet after nearly 30 years of sanctions. But experts say it could take at least a year for the industry to regain lost steam

Clifford Krauss: An oil windfall from Iran? Not yet

Saudi Arabia's daily production in March and April nearly equalled its record output in 1980 when prices were soaring

Prices are down, but Saudis keep oil flowing

Before the country can begin to significantly add to world oil supplies, the US and its allies will need to be convinced that Tehran is living up to its commitments

Iran deal may be slow to affect oil sector

Production is likely to begin declining in the second half of the year, and then crude prices will also begin to recover

Oil prices: What is behind the drop? Simple economics

Since the economically crippling oil embargo of 1973, every American president has pledged to seek and achieve energy independence.That elusive goal may finally have arrived, at least for the foreseeable future, with the failure of Saudi Arabia and its 11 oil cartel partners in the Organization of the Petroleum Exporting Countries to agree to a production cut that would put a brake on plummeting crude prices.On Friday, the benchmark American price for crude oil continued the free fall that began on Thursday, closing at $66.15, its lowest price in more than four years.The inability or unwillingness of Opec to act showed that the cartel was no longer the dominating producer whose decisions determine global supplies and prices. Suddenly, the United States - which is poised to surpass Saudi Arabia as the world's top producer, possibly in a matter of months - is in that position, although the resiliency of that new command must still be tested."This is a historic turning point," said Daniel

Free fall in oil price underscores shift away from Opec

A supply glut has forced Opec members to cut prices to protect market share; US oil companies safe until oil hits $60/bbl

Opec split over tumbling crude prices but US companies safe for now

Business Standard

After a long history of wars and sanctions, Iraq re-emerged as a critical source of oil in recent years. Mounting Iraqi production helped to ease world oil prices despite the tightening restrictions on Iran and tanking exports from Libya. And Western and Chinese oil companies rushed back, revitalising long-neglected oil fields in the north and south.Now suddenly all that progress has been put in jeopardy with the intense military offensive by extremist insurgents.The stakes for the oil markets are high as the Iraqi government tries to gain control over the situation. An eventual decline in Iraqi exports would put pressure on China and India to increase their imports of Iranian oil again, weakening the US government's position in negotiations with Tehran over nuclear policies. Russian oil exports would become more crucial for global markets, potentially strengthening the Kremlin's hand in Ukraine. And a major spike in global oil prices could help unfriendly regimes like Venezuela."The c

Oil industry in Iraq faces setback to revival

Members of the Organization of Petroleum Exporting Countries left their 30 million barrel-per-day quota for oil production intact Wednesday, a decision that indicates the cartel&rsquo;s satisfaction with current crude prices and its reluctance to do anything to further weaken the world economy.

OPEC leaves production quotas in place

Despite rising tensions, Iran is unlikely to do so as its own economy relies on oil exports.