Saudi Arabia's officials unveiled plans to invest $100 billion in India, with the bulk of the funds going toward the infrastructure and energy sectors.

Five countries bordering the energy-rich Caspian Sea met Monday at an economic forum hosted by Turkmenistan in a bid to agree on how to divide the region's oil wealth.

Brent crude futures were at $57.80 a barrel by 0854 GMT, up 42 cents from their previous settlement. West Texas Intermediate (WTI) futures were at $52.80 per barrel, up 26 cents.

Aramco signed a letter of intent to take a 20% stake in Reliance’s oil-to-chemicals business in one of the largest ever foreign investments in India, Reliance announced.

Saudi Aramco will cut customer allocations across all regions by a total of 700,000 barrels a day next month,

Russia expressed its readiness to cooperate with Turkey in its oil and gas explorations in the eastern Mediterranean.

Turkey has made continuous efforts to protect its sovereign rights and the rights of Turkish Cypriots in the Eastern Mediterranean region, where it has been drilling in its exclusive economic zone (EEZ), which was registered with the United Nations in 2004.

The new cost estimate of $60 billion for the refinery was given to Saudi Arabia’s energy minister Khalid al-Falih at a meeting with Indian Oil Minister Dharmendra Pradhan last month in New Delhi, said the four sources familiar with the talks between the two ministers.

OPEC saw output slide to 29.88 million b/d last month, a fall of 210,000 b/d from June, despite output gains by six of its members

Iraq's crude oil production in July rose to 4.62 million b/d, the country's State Oil Marketing Organization said late Sunday, its highest monthly output figure since January 2017, according to official data.

The UK's Royal Navy will work with the US to assure the security of merchant vessels in the Strait of Hormuz, the Ministry of Defence said.

Россия высоко ценит сложившийся с Саудовской Аравией диалог и считает необходимым продолжать столь интенсивное взаимодействие, отметил Александр Новак в рамках встречи.

Saudi Arabia is sending an ever-larger portion of its crude to China - with the US losing out.

ADNOC Distribution today reported that its first-half 2019 net profit increased by 4.3 percent, to AED1.173 billion, compared with the same period last year.

“По итогам прошлого года торговый оборот вырос на 16% и достиг 25,5 миллиардов долл. США, при этом, руководством наших стран поставлена задача достичь торгового оборота в 100 миллиардов долл. США в год. Сейчас мы ведем важные стратегические инвестпроекты - “Турецкий поток” и АЭС “Аккую”. Считаю, что это хорошие примеры нашей кооперации”, - подчеркнул Александр Новак.