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World

U.S. officials say global oil market ready for end to Iran crude exports

SINGAPORE (Reuters) - U.S. attempts to drive Iranian oil exports down to zero come against the backdrop of a global market that is sufficiently well supplied to avoid price disruptions, senior U.S. officials said on Thursday.

Nation

Govt will recalibrate 2019 budget if oil price dips below US$50, says Guan Eng

GEORGE TOWN (Bernama): The government will only recalibrate the 2019 Budget if average crude oil price dip below US$50 (RM210) per barrel, says Finance Minister Lim Guan Eng.

World

Trump calls Saudi's King to discuss oil supplies

DUBAI (Reuters) - U.S. President Donald Trump called Saudi Arabia's King Salman on Saturday and they discussed efforts being made to maintain supplies to ensure oil market stability and global economic growth, Saudi state news agency SPA reported.

World

Unrest intensifies in Iraq as Iranian consulate and oil facility stormed

BASRA/ERBIL, Iraq (Reuters) - Civil unrest fuelled by anger against perceived corruption and misrule by Iraq's political elite intensified across the south of the country on Friday, as protesters stormed the Iranian consulate in Basra while others briefly took workers hostage at a nearby oilfield.

World

Can Saudi Arabia pump much more oil?

LONDON(Reuters) - The leader of Saudi Arabia has assured U.S. President Donald Trump that the Kingdom can raise oil production if needed and the country has 2 million barrels per day of spare capacity that could be deployed to help cool down oil prices to compensate for falling output in Venezuela and Iran.

World

Instant View: U.S. withdraws from Iran deal

(Reuters) - The United States will withdraw from the Iran nuclear pact negotiated in 2015 and re-impose sanctions it had previously withdrawn, President Donald Trump said, calling the deal "defective" at its core.

World

U.S. considering some sanctions on Venezuela oil sector - sources

WASHINGTON (Reuters) - The Trump administration is considering imposing U.S. sanctions on Venezuela's vital oil sector in response to Sunday's election of a constitutional super-body that Washington has already denounced as a "sham" vote, U.S. officials said.