• According to industry and government sources, and letters reviewed by Reuters, Essar has asked the Indian government to free it from paying its share of oil dues to Iran, and instead offset them against a $2.5 billion deal to supply steel plate to a NIOC affiliate. The back-to-back scheme comes to light at a critical stage in talks between Iran and six world powers...

  • Oil falls as OPEC opts not to cut production Thursday, 27 Nov 2014 | 1:09 PM ET
    Saudi Arabian Oil Minister Ali al-Naimi.

    The Organization of Petroleum Exporting Countries (OPEC) decided on Thursday not to cut oil production, despite sliding oil prices.

  • Gulf OPEC producers agree not to cut output Wednesday, 26 Nov 2014 | 2:55 PM ET
    Workers check the valves at the Taq Taq oil field in Arbil, Iraq, Aug. 16, 2014.

    The minister said he is confident the group will reach a unified decision, and that the meeting will last only one day.

  • Want to expect from OPEC     Wednesday, 26 Nov 2014 | 7:21 AM ET

    Greg Priddy, Eurasia Group, shares his thoughts on OPEC's Thursday meeting and the stumbling blocks to reaching an agreement.

  • Oil prices fall ahead of OPEC meeting     Wednesday, 26 Nov 2014 | 7:18 AM ET

    CNBC's Steve Sedgwick reports the latest details on the debate among OPEC members on whether to cut oil supplies.

  • OPEC supply cuts on the way?     Wednesday, 26 Nov 2014 | 6:13 AM ET

    Tom Kloza, Oil Price Information Services, discusses low expectations for Thursday's OPEC meeting as ministers meet to discuss production levels.

  • OPEC debates supply vs. demand     Wednesday, 26 Nov 2014 | 6:08 AM ET

    CNBC's Steve Sedgwick reports on Thursday's meeting of OPEC ministers where they will likely discuss possible reduction in oil production.

  • OPEC Meeting: Iran doesn't need permission     Wednesday, 26 Nov 2014 | 4:00 AM ET

    Ahead of OPEC meeting, Iranian Oil minister, Bijan Zangeneh says the country doesn't need "permission" from anyone outside Iran to increase production.

  • South Korea makes $500 mln oil payment to Iran -sources Tuesday, 25 Nov 2014 | 10:29 PM ET

    SEOUL, Nov 26- South Korea has transferred $500 million to Iran to pay for crude oil imports under an interim nuclear deal that provides limited relief from sanctions, two sources with direct knowledge of the matter said. The interim accord between Iran, the United States, China, France, Germany, Britain and Russia was extended on Monday for seven months to allow for...

  • US energy is growing—and so is US 'power' Tuesday, 25 Nov 2014 | 1:00 PM ET
    A floor hand for Raven Drilling, works on an oil rig drilling into the Bakken shale formation outside Watford City, North Dakota.

    Over the next 25 years, the U.S. will become a global energy powerhouse. That shift will reshape geopolitical power.

  • VIENNA, Nov 25- Talks between Saudi Arabia, fellow OPEC member Venezuela and oil powers Russia and Mexico failed to find an agreement to address a growing oil glut on Tuesday, with no side saying they would lower output despite a collapse in prices. In a day of shuttle diplomacy ahead of OPEC's crucial output meeting in Vienna on Thursday, Russian and Mexican energy...

  • *Shuttle diplomacy heats up ahead of OPEC meeting. VIENNA, Nov 25- Saudi Arabia met fellow OPEC member Venezuela and oil powers Russia and Mexico in Vienna on Tuesday, as some of the world's largest crude producers engaged in last-minute shuttle diplomacy in a bid to convince OPEC kingpin Riyadh to support prices. Saudi has kept the market guessing about its...

  • VIENNA, Nov 25- Venezuela will discuss oil-market "coordination" with OPEC heavyweight Saudi Arabia and major oil producers from outside the group, Foreign Minister Rafael Ramirez said on Tuesday, as the Latin American country tries to rally support for action to boost prices. Riyadh has kept the market guessing about its response to crude's near 30 percent...

  • US and Iran extend nuke talks     Tuesday, 25 Nov 2014 | 7:31 AM ET

    Jeremy Bash, Beacon Global Strategies, discusses the departure of Defense Secretary Hagel and the risks associated with negotiations between the U.S. and Iran .

  • VIENNA, Nov 25- Russia's most powerful oil official, Igor Sechin, was due in Vienna on Tuesday for talks with OPEC members as the group's leader Saudi Arabia kept the market guessing about its response to flagging oil prices. Sechin, the head of state oil company Rosneft and a close ally of Russian President Vladimir Putin, is expected to meet OPEC officials amid...

  • Was Hagel pushed or did he walk?     Tuesday, 25 Nov 2014 | 1:20 AM ET

    CNBC's Hadley Gamble discusses whether former defense secretary Chuck Hagel resigned willingly or because of clashes with President Barack Obama.

  • TOKYO, Nov 25- U.S. crude oil futures were steady below $76 a barrel in early trade on Tuesday as investors waited for a meeting of OPEC ministers that may produce output cuts to support slumping prices. *Some commodity fund managers believe oil prices could slide to $60 per barrel if OPEC does not agree a significant output cut when it meets in Vienna on Nov.27.

  • Behind Hagel's exit from Pentagon     Monday, 24 Nov 2014 | 6:31 PM ET

    Thomas Henriksen, Senior Fellow at Hoover Institution, discusses possible factors behind Chuck Hagel's resignation as U.S. Defense Secretary on Monday.

  • *Market volatile as all await OPEC decision on cuts. NEW YORK, Nov 24- Crude prices ended lower, with Brent below $80 a barrel, after a volatile session on Monday as Russia's offer to add to OPEC output cuts led some to bet the group will agree on a higher production cut than thought when it meets this week. Russia, which needs higher oil prices to support its economy, tried...

  • ISTANBUL, Nov 24- Turkey and the United States smoothed over some differences in the fight against Islamic State during a weekend visit by U.S. Turkey has been a reluctant partner in the U.S.-led coalition against Islamic State, refusing to take a frontline military role despite its 1,200 km border with Iraq and Syria and thereby intensifying Western concern...