World energy powers embarked on a new level of dialogue to rein in runaway oil prices at an emergency meeting in the Red Sea city of Jeddah on Sunday.

The few words that matter at Saturday’s energy summit in Jeddah will come from a former shepherd boy, Ali al-Naimi.

Saudi Arabia, Opec’s largest producer, moved to take some of the heat out of rising fuel prices on Sunday with plans to increase production.

Oil eased to under a barrel on Friday, but stayed within sight of its record high from the previous session, with a tumbling United States dollar, fund flows and Opec’s (the…

Ministers of the Organisation of the Petroleum Exporting Countries (Opec) on Wednesday agreed to keep oil output steady and said record high prices had been driven by factors…

Opec ministers are poised to hold output steady at a meeting on Wednesday, resisting pressure from top consumer the United States to pump more oil to help prop up a fragile…

Oil bounced back above a barrel on Monday as traders bet last week’s nearly sell-off was overdone, and might turn the tides against an expected increase in output by the…

Oil prices rebounded by over a barrel on Thursday, after an explosion and fire at an oil terminal in Minnesota shut down most of the main pipeline that delivers Canadian crude to…

Oil prices dropped on Tuesday after a key Organisation of the Petroleum Exporting Countries (Opec) member left open the possibility the oil cartel will increase output to curb…