oil industry

Raises limit on withdrawal from escrow account

Saudi Arabia considers extending output cuts until end of 2020

Move aimed at shielding oil industry from hefty losses

Collapse of business activity will continue to weigh heavily on oil prices for many months

It took the decision just a day before the end of its tenure

Likely to sign state-to-state agreement to reduce reliance on Middle East

Centre should allow provinces to award petroleum concession agreements.

Venezuela has wrestled with intermittent gasoline shortages in recent months

Sends plan to govt for approval and to ensure energy security

Officials says barons prepared fake documents to claim freight on oil transportation