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It bought two cargoes of Basrah Light crude oil from Iraq over the last two months to half fill the Visakhapatnam underground cavern that can hold as much as 9.75 million barrels of oil, Indian Strategic Petroleum Reserves chief executive officer Rajan K. Pillai said in an...

“The oil market is intrinsically sensitive to economic and geopolitical developments around the world“. The move is seen as an attempt by the producer cartel´s kingpin Saudi Arabia to defend its market share as it fends off competition from US shale oil.

A man fills up his auto at a petrol station in Rome January 6, 2015.

Another supply challenge to watch is shale drilling in the U.S. Despite the plunge in oil prices, drillers have been stubborn about cutting production.

Federal data published Wednesday show total U.S. crude oil production increased by 52,000 barrels to 9.5 million barrels per day.

“Under the current Saudi oil policy, it is still more likely…that any sustained price recovery will come through another OPEC country breaking down than from North American crude oil production collapsing”, Olivier Jakob, an oil analyst at Petromatrix, said in a...

Opera Australia artistic director Lyndon Terracini and John Frost travelled to Andrews’ home outside of New York city to seal the deal for My Fair Lady.

Oil fell to a six-month low in London as Iran vowed to boost production immediately after sanctions are lifted and manufacturing in China slowed.

Crude slid into a bear market last month, joining a broader slide in raw materials amid expanding supplies and signs of slower growth in China. In fact, the prospect of new oil from Iran and increasing output from Iraq and Saudi Arabia has also helped push prices lower.

Oil prices plummeted Monday as market expected crude production from the Organization of Petroleum Exporting Countries (OPEC) hit record high in July.

“Today we draw the line and mark the beginning of a new General Motors here in India”, Mr. Jacoby told a news conference in New Delhi, which was also attended by GM Chief Executive Mary Barra.

“Eclipsed” will be making its New York debut this fall. It is described as a “feminist reading” of the civil war that is “both heartbreaking and profoundly life-affirming”, says Oskar Eustis, the Public Theater’s artistic director.

It expects to end production at the 2.4 million-square-foot plant – the equivalent of 50 football fields – by the end of November.