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

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

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

Senior OPEC and Russian oil industry officials stepped up vague talk on Monday of possible joint action to remedy one of the worst supply gluts in decades, while Saudi Arabia signaled its resolve to allow the market to balance itself.

• January 25, 2016

Ukraine's state antimonopoly agency has imposed a $3.5 billion fine on Russia's Gazprom for allegedly abusing its monopoly control of Ukraine's natural-gas transit system.

• January 23, 2016

What do a Kurdish Peshmerga fighter, a Russian villager, and an American miner have in common? They have all been adversely affected by plunging oil prices.

• January 19, 2016

Iran has not yet decommissioned the Arak heavy water reactor, one of its obligations under the nuclear deal with world powers to win a reprieve from sanctions, but expects to do so in the coming days, a senior Iranian official said.

• January 12, 2016

The Russian currency has dropped to 74.58 per dollar, the weakest ever on a closing basis.

• January 6, 2016