Reuters State oil giant Saudi Aramco signed deals with several foreign companies as part of a drive to expand the kingdom’s industrial base and manufacture a bigger share of products domestically. Deals include setting up joint ventures with US-listed firms Rowan Companies and Nabors Industries to own, manage, and operate drilling rigs in Saudi Arabia. Aramco also signed ...

  Kuwait City / AFP Kuwait’s new oil minister said on Thursday he expects crude prices to climb to $60 a barrel as output cuts agreed by OPEC and non-OPEC producers take hold next year. Essam al-Marzouk gave no timeframe for his projection, saying only that he was optimistic producers would comply with the agreed cuts and end a longstanding ...

  Bloomberg Russia’s finance minister is counting himself among the skeptics of OPEC’s agreement to cut production, if only to beat back efforts to raid a windfall as oil rallies. “Improvements in oil prices, in our view, aren’t structural in character,” Anton Siluanov told reporters in Moscow. “Rather, it’s a reaction to the limits on oil output adopted by OPEC ...