Saudi Arabia promised to act decisively to keep oil prices under control, signalling a real supply boost approaching one million barrels a day is on the way to global markets.“We will do whatever is necessary to keep the market in balance,” Saudi Energy Minister Khalid Al-Falih told reporters on Saturday, while sitting alongside his Russian counterpart Alexander Novak at the Organization of the Petroleum Exporting Countries (OPEC) headquarters in Vienna.

Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman will discuss how to boost oil production while maintaining their petro-alliance when they meet in Moscow to watch the soccer World Cup’s opening match between the two countries.The world’s largest oil exporters are negotiating how to rework their unprecedented, and successful, deal to control oil production as United States (US) sanctions on Iran and the collapse of the Venezuelan petroleum industry threaten to send c

OPEC and its allies outside the group agreed to maintain oil production cuts until the end of 2018, extending their campaign to wrest back control of the global market from America’s shale industry.After a day of talks in Vienna, the decision showed the strength of the unprecedented alliance between the world’s top two oil producers, Saudi Arabia and Russia, and confounded Wall Street analysts who’d predicted Moscow would be reluctant to keep going.

Singapore Exchange’s chief executive officer said his company is still in the running to win a listing of the shares of oil giant Aramco, in what could be the world’s biggest initial public offering.“We’re as good as any other exchange,” Loh Boon Chye said in a Bloomberg Television interview in Riyadh, Saudi Arabia.

Saudi Arabia raised oil pricing for October sales to Asia, increasing its lighter grades for a second consecutive month, in an indication the world’s largest crude exporter sees strengthening demand in its biggest market.State-owned Saudi Arabian Oil, known as Saudi Aramco, increased its official pricing for Arab Light crude to Asia by 55 cents to 30 cents a barrel more than the regional benchmark, it said Monday in an emailed statement.