Bloomberg Saudi Arabia’s new Crown Prince Mohammed bin Salman will need higher crude prices to push ahead with his plans to reform the kingdom’s economy, making an about-face in oil policy unlikely in the short term. Yet, oil markets will be braced for an even more assertive Saudi Arabia in foreign policy. MbS, as the 31-year-old prince is known, has …

Bloomberg China’s Sinochem Group is considering listing its oil-related business in Hong Kong, according to people with knowledge of the plan. The state-owned chemicals conglomerate is making ini- tial evaluations of its oil assets, which have a combined va- lue of around 100 billion yuan ($14.6 billion), said the people, who asked not to be identified as the information is …

Bloomberg Oil slid further into a bear market as rising global supply is countering efforts by OPEC and its allies to drain a glut. Futures fell as much as 1.1 percent in New York after front-month prices closed on Tuesday more than 20 percent below their February peak. Libya, exempt from the OPEC-led output cuts, is pumping the most in …