Iran is sending positive signals that it may support joint action to prop up the oil market, sources in OPEC and the oil industry said, potentially aiding efforts to revive a global deal on freezing production levels at talks next month.
A rally that pushed international crude-oil prices above $50 a barrel Thursday is a welcome sign for many energy companies but not enough to kick-start an industry in the midst of a two-year slump, executives said.
Brazilian authorities removed two American Olympians from their flight to the U.S. late Wednesday, as police escalated an investigation into an alleged armed robbery of U.S. Olympic star Ryan Lochte and three other swimmers.
China and Russia will hold joint naval exercises in the South China Sea in September, the Chinese Defense Ministry said, amid heightened regional tension following an international tribunal’s rejection of Beijing’s maritime claims there.
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