Oil futures surged on Wednesday after Russia indicated there was a possibility of co-operation with OPEC, fanning hopes for a deal to reduce a global oversupply that sent prices to the lowest levels in over a dozen years last week.

• January 27, 2016

Russian officials have decided they should talk to Saudi Arabia and other OPEC countries about output cuts to bolster oil prices, the head of Russia's pipeline monopoly said on Wednesday, remarks that helped spur a sharp rise in world prices.

• January 27, 2016

Iranian President Hassan Rouhani told French business leaders on Wednesday that Iran was open for investment as he started a visit in France to revive business ties despite diplomatic differences.

• January 27, 2016

The head of Russia's Security Council said in a newspaper interview published on Tuesday that the United States wanted a weakened Russia so as to gain access to its vast mineral resources.

• January 26, 2016

The United Nations invited Syria's government and opposition to peace talks in Geneva on Friday, but Saudi-backed opponents of President Bashar al-Assad have yet to decide whether to drop their objections to taking part.

• January 26, 2016

OPEC kingpin Saudi Arabia and top non-OPEC producer Russia are showing signs of flexibility about agreeing to tackle an oil glut that has pushed prices to 12-year lows, the oil minister of Iraq said on Tuesday.

• January 26, 2016

The United Nations said on Monday it would issue invitations for marathon Syrian peace talks to begin this week, but opposition groups signalled they would stay away unless the government and its Russian allies halt air strikes and lift sieges on towns.

• January 25, 2016

U.S. oil prices recoiled 6 percent on Monday, slipping below the pivotal $30-a-barrel threshold in post-settlement trade, after news that Iraq's output reached a record last month returned attention to a market glut that sent prices to 12-year lows last week.

• January 25, 2016