Saudi Arabia’s state oil company Aramco asks lenders for a one-year extension on a major loan.

World stock markets were pushing for a fourth day of gains on Thursday as a near one-year high in oil prices, a revitalized dollar and rising bond yields refocused attention on inflation and normalizing economies.

Oil fell on Thursday on fresh fuel demand worries because of travel curbs to prevent new coronavirus outbreaks and delays with vaccines and a stronger US dollar weighed on prices.

Production and exports have increased significantly in recent months, the oil minister says during the opening ceremony of Iran Oil Show.

OPEC+ may hold an extraordinary meeting in October to respond to a potential slump in demand.

Goldman Sachs says oil prices would surge to as much as $65 per barrel in the third quarter of next year.

Concerns are rising across Europe that the coronavirus-induced slump in oil prices could knock demand for recycled plastics.

Saudi Arabia’s top oil company Aramco has lost 73% of profits due to low prices.

Saudi Arabia has threatened to ignite an oil-price war unless fellow OPEC members make up for their failure to reduce their oil output.

Oil prices jumped on Thursday following reports that US crude stockpiles increased less than expected.