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Saudi Arabia is pushing for countries that have flouted the supply curb agreements to compensate with new limits.

Saudi Arabia's detention centres designed to contain the coronavirus have come under scrutiny for alleged inhumane conditions.

Saudi Aramco profits dive 73% following oil price slump

The New Arab Staff & Agencies

Saudi Aramco profits dive 73% following oil price slump

Saudi Arabia's national oil company has announced a huge quarterly loss in profits, due to low oil prices and reduced demand

Saudi burning record amounts of oil during coronavirus summer

The New Arab Staff

Saudi burning record amounts of oil during coronavirus summer

Saudis are staying at home this summer, as coronavirus continues to spread.

Algeria's new economic reforms aims to save $20 billion

The New Arab Staff

Algeria's new economic reforms aims to save $20 billion

The North African country is launching an economic plan that would help it out of its financial strait.

The New Arab Staff & Agencies

IMF cuts Saudi forecast as oil, virus hit economy

The new projection for the Saudi economy, the largest in the region, is a massive 4.5 percentage points lower than what the IMF had projected just two months ago.

The New Arab

Iraqi Kurdistan could emerge as Turkey-UAE proxy battleground

Turkey has launched two operations against Kurdish militants this week, raising fears of northern Iraq becoming a proxy battleground between ...

The New Arab Staff & Agencies

OPEC, allies agree to extend supply cuts through July

OPEC countries and their allies have agreed to extend production and supply cuts into July to boost oil prices which fell rapidly due ...

The New Arab Staff

Iraq approves last seven members of new government

Iraq's new government has been completed, authorities confirmed on Saturday.

<em>OPEC</em> and allies meet to discuss output cuts

The New Arab Staff & Agencies

OPEC and allies meet to discuss output cuts

OPEC and its allies will hold a virtual meeting on Saturday to discuss their deal to slash production as relaxed coronavirus lockdowns ...

The New Arab

Energy politics cripple Iraq's hopes for economic recovery

Iraq is heavily reliant on the goodwill of its neighbours for both energy and investments, meaning Baghdad has very little leverage to stand up ...

The geopolitics of Iran's fuel shipments to Venezuela

Omid Shokri Kalehsar

The geopolitics of Iran's fuel shipments to Venezuela

Iran's fuel shipments to Venezuela are a show of defiance against the US, but they will do little to fundamentally change energy geopolitics.

Kuwait and Saudi halt oil production from neutral zone

The New Arab & agencies

Kuwait and Saudi halt oil production from neutral zone

The two oil giants stopped oil production following an agreement to push up prices.

Oil rises above $30 as coronavirus lockdowns are eased

The New Arab

Oil rises above $30 as coronavirus lockdowns are eased

Oil prices have climbed over the $30 mark for the first time in months.

Iran's <em>OPEC</em> governor dies after brain haemorrhage

The New Arab & agencies

Iran's OPEC governor dies after brain haemorrhage

Iran's OPEC governor has died after falling into a coma earlier this month due to a brain haemorrhage.

The New Arab

Saudi Vision 2030 takes $8bn cut as austerity bites

Saudi Arabia's much-hyped modernisation programme has taken a substantial funding cut as the kingdom's finances suffer from the coronavirus-enduced oil market collapse and subsequent price war.

The New Arab & agencies

Oil rebounds in Asia after Saudi Arabia output cut

Oil rebounded in Asian trade Tuesday, buoyed by Saudi Arabia's decision to cut output more than it had pledged as the virus-hit world economy ...

The New Arab & agencies

Saudi slashes another million barrels from daily oil output

The Kingdom has asked oil giant Aramco to cut its output by an additional one million barrels per day, starting in June.

The New Arab

Oil prices, coronavirus could lead to Saudi austerity drive

Saudis may have to tighten their belts as low oil prices and coronavirus lockdowns hit.

Iran slashes four zeroes off currency

The New Arab

Iran slashes four zeroes off currency

Under the new law, 10,000 rials will be equal to one toman and each toman will be equal to 100 parseh, the minor unit of the new currency.

The New Arab & agencies

Iran's OPEC governor in coma after brain haemorrhage

Hossein Kazempour-Ardebili was appointed governor to the Organization of the Petroleum Exporting Countries in 1985.

Iraq oil revenues crash to multi-year low

The New Arab & agencies

Iraq oil revenues crash to multi-year low

Iraq sold 103.1 million barrels in April at an average price of $13.80 per barrel, earning the country $1.4 billion.

Trump pressured Saudi with threat of weapons over oil

The New Arab

Trump pressured Saudi with threat of weapons over oil

Crown Prince Mohamed bin Salman was so shocked by Trump's ultimatum that he sent his aides outside the room before continuing the phone call.

Iran ships '6.8 million barrels' of oil to Syria

The New Arab

Iran ships '6.8 million barrels' of oil to Syria

Following US sanctions, the Syrian regime has received roughly 2 million barrels of crude from staunch regional ally Iran every month. In recent ...

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