Bloomberg Libya and Nigeria, which have both boosted oil production since they were exempt from global cuts this year, may be asked to cap their crude output soon in an effort to help re-balance the market, Kuwait Oil Minister Issam Almarzooq said. OPEC and non-OPEC producers have invited the two African nations to their committee meeting in St. Petersburg, Russia, ...

Bloomberg Saudi Aramco, which plans what could be the world’s biggest initial public offering, will invest more than $300 billion over the next decade to maintain its spare oil-production capacity and explore for more natural gas, President and Chief Executive Officer Amin Nasser said. The outlook for oil supplies is “increasingly worrying,” with about $1 trillion in investments lost during ...

NEW DELHI / Reuters India, the world’s third-largest oil importer, will import crude oil from the United States for the first time after Indian Oil Corp bought a cargo that will be delivered in October. The purchase comes after Indian Prime Minister Narendra Modi’s visit to the US in June when President Donald Trump said his country looked forward to ...