The 28 joint fields, which occupy nearly the entire northern coast of the Persian Gulf, represent 30% of Iran's gas reserves and 20% of its extractable oil, according to Iran International.

Saudi Arabia, the world’s top oil exporter and a G20 economy, had been expected to see a sharp growth rebound in 2025 on the back of higher crude output, with an October Reuters poll forecasting ...

When Iran targeted ships in the Strait of Hormuz in the 1980s, the U.S. Navy escorted ships through the strait. This June, even without a formal closure, some oil tankers and supertankers — which can ...

One often-cited figure when it comes to oil prices and Saudi Arabia’s budget is $90 per barrel. This is the price of Brent crude that the Middle Eastern kingdom needs to balance its budget.

Saudi Arabia and Russia had to reach a difficult compromise on OPEC+ policies on Saturday as Riyadh pushed to accelerate oil output increases while Moscow argued for a pause, four OPEC+ sources ...

Saudi Arabia wants OPEC+ to continue with accelerated oil supply hikes in the coming months as it puts greater importance on regaining lost market share, according to people familiar with the matter.

Saudi Arabia is a master of the oil game. Our real-time satellite monitoring of oil inventories had shown that the world was rapidly running out of space to store the crude oil that, thanks to the ...

DUBAI, United Arab Emirates (AP) — Saudi Arabia’s state-owned oil giant Aramco posted first-quarter profits of $26 billion on Sunday, down 4.6% from the prior year as falling global oil prices ...

OPEC+ is accelerating its oil output increases by adding 411,000 barrels per day in May. Saudi Arabia faces a budget strain, needing $96.20 oil to break even due to Vision 2030 spending.

Aramco, formally known as the Saudi Arabian Oil Co., had revenues of $108.1 billion over the quarter, the company reported in a filing on Riyadh’s Tadawul stock exchange.