Bloomberg Iran boosted oil output at three western fields faster than it expected as rival OPEC producer Saudi Arabia called for a collective output cut later this month to help rebalance the market. Output at the fields west of the Karoun River, near Iran’s border with Iraq, rose to about 250,000 barrels per day from 65,000 barrels in 2013, …

  AFP Saudi Arabia’s oil minister said it was “imperative” that OPEC nations finalise an agreement over a cut in oil production aimed at boosting crude prices, Algerian media said on Sunday. Khalid al-Falih met his Algerian counterpart Noureddine Boutarfa on Saturday and called on cartel members to stick to the surprise cut deal, reached in Algiers in September. “In …

  Bloomberg Rich countries must close all their coal-fired power plants by 2030 to have a chance of holding global warming to tolerable levels, a report from an environmental research group said. China would have to phase out the most polluting fossil fuel by 2040 and the rest of the world by 2050, according to Climate Analytics, a Berlin-based non-profit …