Bloomberg Bahrain, the smallest energy producer in the Persian Gulf, discovered its biggest oil field since it started producing crude in 1932, according to the country’s official news agency. The shale oil and natural gas discovered in a deposit off the island state’s west coast “is understood to dwarf Bahrain’s current reserves,” Bahrain News Agency reported, without giving figures. US …

Bloomberg Crude fell as a sell-off in equity markets signalled a flight from riskier investments. Futures slid as much as 1.9 percent in New York. US stocks declined as China imposed retaliatory tariffs on US goods, the latest move in escalating trade dispute between world’s largest economies. At the same time, supply concerns that prompted hedge funds to increase bullish …

Reuters The Iraqi cabinet approved a plan to raise the nation’s crude oil output capacity to 6.5 million barrels per day by 2022, according to a government statement. Iraqi Oil Minister Jabar al-Luaibi said in January capacity was currently close to 5 million bpd. The country is producing more than 4.4 million bpd in line with an agreement between the …