Bloomberg Energy ministers from Saudi Arabia, the United Arab Emirates and Kuwait plan to meet on Saturday to discuss OPEC matters, about a week after the Saudis and Russia announced a new policy to revive oil production. Saudi Energy Minister Khalid Al-Falih will meet with Kuwait’s Bakheet Al-Rashidi and the UAE’s Suhail Al Mazrouei — also the holder of OPEC’s …

Bloomberg For oil traders, there’s no place quite like Saldanha Bay. When prices slumped in 2014, trading houses generated outsize profits by storing millions of barrels of crude in the deep-water harbor north of Cape Town. Now storage facilities at the port — where South Africa built vast concrete bunkers in the 1970s that helped insulate the apartheid regime from …

Bloomberg Darren Woods is mounting a strong defense of his plan to rescue Exxon Mobil Corp. from its share-price slump with a multibillion dollar investment spree that’s at odds with the belt-tightening undertaken by rivals. Far from preaching spending caps or showering investors with cash, Woods’ solution, outlined in an interview, is to invest heavily in mega-projects that he says …