Bloomberg Saudi Arabia may cut energy subsidies more gradually and take longer to balance its budget, Finance Minister Mohammed Al-Jadaan said, as the kingdom seeks to soften the impact of its drive to repair public finances. The prices of some subsidized domestic energy products will rise to international levels later than previously envisaged, Al-Jadaan said in an interview in Washington. …

Bloomberg It’s been a bad year for oil explorers in Norway’s Arctic: a record campaign in the Barents Sea yielded little; the most exciting well in years proved to be a flop; and Norwegians grew increasingly skeptical about the industry that made them rich. But companies led by Norway’s state-controlled Statoil ASA and Sweden’s Lundin Petroleum AB aren’t about to …

SEOUL / Reuters South Korea’s SK Energy has bought 6.5 million barrels of US crude to be delivered between November and January, a company spokeswoman said on Monday, as the country’s top oil refiner steps up imports of the competitively priced oil. The ramp-up in imports comes as US crude oil prices have dropped against Brent and Dubai , the …