Oil

Saudis want production cuts extended through 2018. while Moscow wants flexibility.

Tehran has intensified efforts to involve foreign oil and gas majors in its key petroleum industry.

Vladimir Putin could send oil markets into a spin by pulling out of the planned extension to the current OPEC-led production cut.

OPEC. Russia and several other major producers have cut their combined output by about 1.8 million barrels per day since January.

The global oil market could tighten towards the second half of 2018 if demand remains robust.

Venezuela is ordering its embassies around the world to renegotiate rents at their diplomatic missions.

Both OPEC and non-OPEC members are expected to continue the cuts into 2018 to help keep prices rallying.

In just one month. Iraq turned from cheater to complainer. after clashes in Kurdistan added some geopolitical risk premium to oil prices.

Oil markets are on track to come into balance next year.

Iraq is the second-largest crude oil producer in the OPEC after Saudi Arabia.