OPEC

Tehran’s top oil official Tuesday rejected a proposal by Saudi Arabia and Russia to freeze crude oil production and boost prices.

But Iran's Oil Minister Bijan Zanganeh stopped short of offering to restrain the nation's oil output as part of a global pact to freeze production.

The country said it was illogical for it to freeze its crude production, as Russia, Saudi Arabia, Venezuela and Qatar agreed to do.

Investors snapped up beaten-down stocks Tuesday as oil prices stabilized after producers inked an output agreement.

A conditional agreement among Saudi Arabia, Russia, Venezuela and Qatar at a Doha meeting dashed expectations of a production cut, leading to a fall in crude prices.

Other factors included a stronger yuan, speculation on more Japan stimulus and the European Central Bank's vow to fight deflation.

OPEC may change its stance on production caps, but industry experts say it might not be enough to end the oil glut around the world.

The cartel may be getting close to a consensus on how to halt the long slide in crude oil prices, Nigeria’s oil minister says.

The French energy giant Total will soon receive its first delivery of 2 million barrels of oil as a result of the lifting of sanctions on Iran.

Comments hinting at production cuts by major international oil suppliers sent the price of crude soaring Friday.

As OPEC members Iran, Iraq and Saudi Arabia ramp up production in 2016, growth in demand for oil is likely to "ease back considerably."

Investors also looked to the Federal Reserve for its next move following weak U.S. economic data this year.

Investors rushed to safe havens such as gold and bonds as most world markets extended Tuesday's losses.

A visit by Venezuelan Oil Minister Eulogio Del Pino to Moscow is another piece of evidence that Russia may be open to production cuts.

The Bank of Japan is scheduled to give an update on monetary policy at 10 p.m. EST.

A worldwide glut has damaged the oil-rich nation’s economy, which is heavily dependent on petroleum exports.

With crude prices tumbling, the industry needs to cut capital expenditures and staff if it hopes to survive, a risk management firm says.

In sync with crude oil prices, Asian markets recovered briefly Thursday morning before falling as oil prices slid again.

Singapore reversed earlier-day losses of as much as 3 percent.

Besides the country’s 500,000-barrel-per-day production boost, the crude it has in storage is estimated to be enough to fill 24 supertankers.

On Saudi Arabia's headline index, 167 stocks fell as investors feared the easing of Iranian sanctions raised the prospect of a surge in oil supplies.