World's largest oil exporter is forcing prices lower to win back market share but the high-risk strategy will test the house of Saud like never before

US can be next Saudi Arabia for oil, says ex-US Treasury Secretary Summers

Saudi Arabia Raises Price of Main Oil Grade for Asian Buyers

Oil extended losses below $50 a barrel amid speculation that U.S. crude inventories will expand, exacerbating a global supply glut that’s driven prices to the lowest level since April 2009.

Ali al-Naimi, the oil minister of Saudi Arabia, was in no mood to address reporters at Opec’s November meeting, refusing to offer more than a few words after the cartel decided to hold output at 30m barrels a day.

Turkey is on its way to becoming the main hub for energy in Europe due to the recent introduction of the Turk Stream in place of South Stream. The elevation of the country's role became feasible after a series of major infrastructure projects that will certainly make Turkey the corridor for the supply of gas into the EU for the coming decades.

The Availability and Price of Petroleum and Petroleum Products Produced in Countries Other Than Iran

Saudi Arabia and OPEC would find it “difficult, if not impossible” to give up market share by cutting crude production, the country’s oil minister said.

Crude prices surged from the lowest closing levels since May 2009 as comments from Saudi Arabia’s oil minister yesterday added to the most volatile market in three years.

Iran's President Hassan Rouhani said Wednesday that the sharp fall in global oil prices is the result of "treachery," in an apparent reference to regional rival Saudi Arabia, which opposed production cuts.