Oil

Saudi Arabia promised on Thursday not to flood the oil market with extra barrels even as OPEC failed to agree on output policy, with Iran insisting on the right to raise production steeply.

OPEC is set for another showdown between rivals Saudi Arabia and Iran when it meets on Thursday, with Riyadh trying to revive coordinated action and set a formal oil output target but Tehran rejecting the idea.

OPEC is set for another showdown between rivals Saudi Arabia and Iran when it meets on Thursday, with Riyadh trying to revive coordinated action and set a formal oil output target but Tehran rejecting the idea.

Demand for new cars, trucks and SUVs fizzled in May, but the month was likely just a speed bump.

Demand for new cars, trucks and SUVs fizzled in May, but the month was likely just a speed bump.

U.S. stocks were little changed on Wednesday afternoon, recovering from steep losses earlier in the session, helped by encouraging factory data and a pull back in oil prices.

U.S. stocks were little changed on Wednesday afternoon, recovering from steep losses earlier in the session, helped by encouraging factory data and a pull back in oil prices.

Oil prices fell on Wednesday on expectations of OPEC inaction on output as its focus stays firmly on market share, while concerns about China's economy weighed on the demand outlook.

Oil prices fell on Wednesday on expectations of OPEC inaction on output as its focus stays firmly on market share, while concerns about China's economy weighed on the demand outlook.

Oil prices fell on Wednesday on expectations of OPEC inaction on output as its focus stays firmly on market share, while concerns about China's economy weighed on the demand outlook.

Gulf OPEC members including Saudi Arabia are looking to revive the idea of coordinated oil-output action by major producers when the group meets on Thursday.

Gulf OPEC members including Saudi Arabia are looking to revive the idea of coordinated oil-output action by major producers when the group meets on Thursday.

Gulf OPEC members including Saudi Arabia are looking to revive the idea of coordinated oil-output action by major producers when the group meets on Thursday.

Venezuelan energy minister Eulogio Del Pino said on Wednesday OPEC has a de facto oil output freeze as its overall production stood steady in the past few months.

Venezuelan energy minister Eulogio Del Pino said on Wednesday OPEC has a de facto oil output freeze as its overall production stood steady in the past few months.

Venezuelan energy minister Eulogio Del Pino said on Wednesday OPEC has a de facto oil output freeze as its overall production stood steady in the past few months.

Ashland on Tuesday filed to reorganize as a public holding company and separate its Valvoline business, key steps in Ashland's previously announced plans to split in two by year's end.

Ashland on Tuesday filed to reorganize as a public holding company and separate its Valvoline business, key steps in Ashland's previously announced plans to split in two by year's end.

Ashland on Tuesday filed to reorganize as a public holding company and separate its Valvoline business, key steps in Ashland's previously announced plans to split in two by year's end.

U.S. oil prices rose on Tuesday, buoyed by the start of the U.S. summer driving season.