Bloomberg Saudi Arabian Oil Co. and Azerbaijan’s State Oil Co. are competing to buy OMV AG’s fuel-retailing business in Turkey in a deal that may value the asset between $1.2 billion to $1.6 billion, people with knowledge of the matter said. Aramco, as the Saudi state company is known, and Socar have submitted binding bids for Istanbul-based OMV Petrol …

  Bloomberg OPEC officials this week hailed the “excellent” and “unprecedented” implementation of their agreement to cut oil production, but were still waiting for solid evidence that the deal was fulfilling their key measure of success and shrinking the global glut. A reduction in the amount of oil held in storage around the world is the most important factor for …

  Bloomberg Call it collateral damage. If Donald Trump delivers on threats to put punishing tariffs on Chinese goods, plenty of pain would be felt in Taiwan, a de facto US ally that Beijing considers a breakaway province. The island would be among the most vulnerable to economic spillover from any US-China trade war. More than 40 percent of the …