Oil prices rose sharply in Asian trade on Wednesday on glimmers of hope of a producer cut-back and after a steep sell-off overnight.
Iran's oil minister said Tehran was ready to negotiate with Saudi Arabia over the conditions in oil markets, Iran's Press TV reported.
Here are the countries that are most resilient to the impact of oil prices—and those hit hardest.
Syria will resist any incursion and send the aggressors home "in coffins," its foreign minister said, in comments aimed at Sunni Arab countries.
Saudi Arabia, Russia and other countries that heavily rely on oil revenues are getting more desperate, oil expert Daniel Yergin tells CNBC.
Early signs of capitulation by oil producers could mean a bottom is getting closer.
Seth Kleinman, head of energy strategy at Citi, says Iran is a bearish risk to the oil market, but it depends on how much it produces.
Every month that oil stays below $80 a barrel, Saudi Arabia loses money. CNBC estimates when the kingdom may run out of money.
Saudi Arabia wants to cooperate with other oil producers to support the market, Al Arabiya reported, citing an unnamed Saudi source.
There's little chance the OPEC cartel and nonmember Russia could reach a deal that would result in lower oil production.
The trucks are the veins of the operations, says Amos Hochstein, U.S. Department of State, discussing the U.S. strategy to target ISIS' energy infrastructure.
Despite a jump in crude oil prices this week, gains may be capped by quick ramp up in shale production, according to an analyst.
Oil market responds to rumors of production cuts. CNBC's Jackie DeAngelis explains.
But the report denied that Saudi Arabia had proposed a 5 percent production cut to bolster weak crude prices.
Tom Petrie, Petrie Partners chairman, weighs in on the possibility of a Russia/Saudi relationship and shares his expectation for crude prices.
Russian officials have decided they should talk to Saudi Arabia and other OPEC countries about output cuts, Russia's pipeline head said.
The Fed needs to continue tightening, says a former Fed official. Delaying decisions will not make the path any easier.
U.S. oil production continues to defy forecasts that it's slowing, and with refiners processing as much as they can, the glut keeps growing.
Saudi Arabia's late King Abdullah issued the $681 million payment to Najib Razak.
The "Worldwide Exchange" crew discusses the morning's top attention-grabbing headlines, including China adopting supply side structural reforms and economic challenges ahead for Saudi Arabia as sanctions are lifted in Iran.