OPEC

Saudi Arabia produced 9.87 million barrels of crude oil per day in January, the second-highest level in three decades, according to official data released Tuesday.

President Barack Obama and British Prime Minister David Cameron discussed the possibility of releasing emergency oil reserves during a meeting Wednesday, two sources familiar with the talks said.

The United States is pressing Saudi Arabia to boost oil output to fill a likely supply gap arising from sanctions on Iran, Gulf oil officials said, adding that an increase in production is unlikely to be needed before July.

The U.S. experienced a trade deficit of $52.6 billion in January, an increase of $2.2 billion from December, according to a report by the U.S. Department of Commerce.

Europe's debt crisis and an oil price rally are the biggest threats to global oil demand this year, OPEC said on Friday, adding it was still pumping above its target despite a slide in Iranian production.

Europe's debt crisis and an oil price rally are the biggest threats to global oil demand this year, OPEC said on Friday, adding it was still pumping above its target despite a slide in Iranian production.

Saudi Arabia has raised crude exports and the United States is considering releasing oil from its Strategic Petroleum Reserve as crude-oil prices hit nine-month highs on Friday and concerns deepened over Iran's nuclear program.

Venezuela's ailing socialist leader, Hugo Chavez, will fly to Cuba on Friday for an unknown period to undergo new cancer surgery that has shaken the South American nation before an October presidential election.

Venezuela's economy grew last year, after two straight years of GDP contraction.

The United States at present has plenty of supply and only light demand, yet gas prices are steadily rising. Americans, while still addicted to oil, are driving more fuel-efficient cars, so why are there predictions of $5-a-gallon gas by year's end? The answer is fear -- mainly of war with Iran, a major oil producer.

The government of Venezuela's Hugo Chavez is emerging as a rare supplier of diesel to Syria, potentially helping the government of the Middle Eastern country's Bashar al-Assad fuel its military in the midst of a bloody crackdown on civilian protests and undermining Western sanctions.

Horse races are always fun to watch, even if no money is involved, and every four years, one of our two major political parties participates in a usually futile horse race. Americans are fed daily updates on who said what and on the ever fluctuating poll numbers.

Oil-rich Cuba is starting to drill offshore by awarding a contract to Spain's Repsol. But the Bolivarian Republic of Venezuela could be the biggest beneficiary.

Trying to forecast world oil demand growth is a tricky job at the best of times. This year abnormal levels of uncertainty about the global economy are making the job even more difficult.

Venezuela's opposition coalition confirmed on Sunday that Miranda state governor Henrique Capriles had won a primary before the South American nation's presidential election.

The International Energy Agency lowered its forecast for global oil demand for the sixth consecutive month because of the continuing weakness of the global economy, sending shares of crude oil down with it.

Thanks to expansive oil fields and a reservoir of millions of barrels of crude, Nigeria is the third-richest country in Africa. But due to corruption, poor wealth distribution, and lack of infrastructure, the nation's people suffer from staggering rates of poverty.

China is scouring the world for alternative oil supplies to replace a fall in its imports from Iran, as it seeks to negotiate lower prices from Tehran, and has been drawing heavily on Saudi Arabia.

Iran's oil minister said the Islamic state would not retreat from its nuclear program even if its crude-oil exports grind to a halt, the official IRNA news agency reported on Saturday. But Rostam Qasemi also called on the European Union to review its recent decision to ban Iranian oil imports as of July 1.

Faced with international political tensions, disruptive weather and natural disasters and global economic woes, oil companies in the U.S. and Europe reported overall declining earnings for the fourth quarter, even as they earned. The good news is that the U.S. became a net energy exporter for the first time since 1949.

Donald Trump officially endorsed Mitt Romney for president on Thursday, praising the Republican front-runner for his business sense and stance on foreign policy.