Russian Energy Minister Alexander Novak will meet the Organization of the Petroleum Exporting Countries (Opec) officials in Vienna, his spokeswoman said, as oil's price fall piled pressure on Moscow's budget.
Brent crude was little changed just below $98 a barrel on Tuesday, holding gains after recovering from its lowest price in more than two years but capped by a soft global economic outlook.
Data reflecting lacklustre manufacturing
South Korea's imports of Iranian crude doubled in August from a year ago but fell 8 per cent in the first eight months year-on-year, reflecting moves by the world's fifth-largest crude oil importer to navigate terms of sanctions relief
Libya's oil production has risen to 870,000 barrels a day, a spokesman for state-run National Oil Corp (NOC) said.
NOC had put output last week at 810,000 bpd. The Opec member's production has risen in
The drop in oil prices to their lowest in two years has caught many observers off guard, coming against a backdrop of the worst violence in Iraq this decade, heightened tensions between the West and Russia, and sanctions against Iran.
A substantial increase in Iranian oil storage capacity will give the sanctions-hit country more flexibility to export crude, the International Energy Agency (IEA) said.
The US and the European Union have impose
Iraqi Kurdistan has shipped a total of 11.2 million barrels of crude oil since May via a pipeline to Turkey's Mediterranean port of Ceyhan, Turkish energy minister Taner Yildiz told a conference in the southeastern city of Gaziante
Brent crude dropped to a two-year low below $97 a barrel on Thursday, falling for a sixth straight session as worries over mounting supply and weak demand outweighed concerns that conflicts in the Middle East could curb oil production.
World oil demand growth is softening at a remarkable pace as the European and Chinese economies falter, the West's energy watchdog said on Thursday, while supplies grow steadily, particularly from North America.
Sometimes they came pretending to buy things. Sometimes they texted, sometimes they called, but the message was always the same: "Give us money."
Months before they took control of the Iraqi city of Mosul in June, Islami