Naguib Sawiris leveled strong criticism at Turkey's President Recep Tayyip Erdogan, accusing the leader of making a "very big mess" in the Middle East.
Oil prices extended their rally on U.S. election day with a 3% gain as financial markets staged a broad recovery, but concerns over surging coronavirus cases around the world capped further gains.
Oil prices slid more than 5% on Wednesday, giving up most of the previous day's gains, as a surge in U.S. crude stocks and growing coronavirus infections in the United States and Europe fanned fears of a supply glut in oil and weaker fuel demand.
Crude rebounded on Tuesday as companies shut down some U.S. Gulf of Mexico oil production ahead of an approaching storm, although surging coronavirus infections and rising Libyan supply limited gains.
A relentless second wave of coronavirus has stopped oil demand recovery, but the prospect of increased supply is further raising the stakes for OPEC+.
Details were not immediately available, but the two sides were taking part in a signing ceremony in Geneva on Friday morning.
Oil prices ticked up on Thursday but struggled to fully recover from the previous session's losses when a build in U.S. gasoline inventories signaled a deteriorating outlook for fuel demand as coronavirus cases soar.
Economic analysts have expressed exasperation at the policy decisions coming from Ankara, arguing that the currency's troubles are self-inflicted.
Oil prices are expected to rise just slightly in the final quarter of the year, held back by a deep chill in global travel.
EU Commission President Ursula von der Leyen said Wednesday that "migration is an issue that has been discussed long enough."
Turkey and Greece are at loggerheads over competing claims to energy reserves in contested Eastern Mediterranean waters.
UNESCO has named 53 sites on its List of World Heritage in Danger. Watch five of these ancient sites digitally transform to how they once looked long ago.
Libya's National Oil Corporation has declared force majeure on exports from its largest oil field Tuesday, after a militia group shut it down just days after it resumed production following a six-month blockade.
It is imperative that those who breach the embargo are held to account, a senior U.N. official said on Sunday.
Oil output from the OPEC producer has plummeted from around 1.2 million barrels per day to just over 320,000.
"He stepped into Libya, into Syria, he's stepping into Iran and Iraq — he wants to be able to be a kingmaker," Browder told CNBC at Davos.
Turkey and Russia are the two most interesting third parties involved in the Libyan domestic conflict, says Aykan Erdemir from the Foundation for Defense of Democracies.
An internal conflict in Libya has forced shut some of its oil fields, and prolonged closure could reduce output by up to 800,000 barrels a day, says Azlin Ahmad from Argus Media.
Turkey will increase its military support to the internationally recognized government of Libya if necessary, President Tayyip Erdogan said on Sunday.
Oil dropped on Thursday, declining for the first time in six days, after the U.S. Federal Reserve dampened hopes for a string of interest rate cuts.
