Iran on Tuesday rejected a proposal from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supplies, dashing market hopes that the two major OPEC producers would find a compromise this week to help ease a global glut of crude. Iraq is leading a mediation to bring the viewpoints of Saudi Arabia and Iran closer, in order to get out ...

(Reuters) - An explosion and fire disabled a pipeline carrying gas from Iraq's northern oilfields to power stations early on Friday, the oil ministry said. It was not clear what caused the blast, which took place around 60 km (40 miles) west of Kirkuk, but it is another indication that Iraqi energy installations are becoming more vulnerable to technical ...