Omani airline SalamAir. in a ceremony participated by Iranian Ambassador to Muscat Mohammadreza Nouri Shahroudi. celebrated the launch of its new flight route connecting Tehran to the capital city of the Arab country.

OPEC is close to reaching an agreement to extend the production cut deal beyond June.

In 2018. India imported the third-highest volume of crude oil by value after China and the United States.

Saudi Arabia and Russia. the two largest producers in the OPEC coalition. voiced concerns that falling oil demand could send prices below $40 bbl as they met in Moscow.

Oil bulls thought 2020 would be their year.

U.S. crude explorers reduced drilling to a 15-month low as oil dipped into bear-market territory.

Texas drillers may have found a solution to the stubborn natural gas glut that’s forced them to either burn it off into the air. or pay others to take it away.

After a prolonged oil price plunge. pushing price levels down to around $59 Brent per barrel. signs are showing that the market believes the downward trend has overshot its target.

South Korea said its economic growth faces prolonged downside risks as uncertainty surrounding external conditions grow more than expected.