TEHRAN (AFP) - Iran, OPEC's number two oil producer, favours a cut in crude production of 1.0 to 1.5 million barrels per day when the oil cartel meets in Cairo later this month, state television reported on Saturday. "It is best that at the urgent meeting in Cairo a decision be made for another ...

LAGOS - Nigerian militants blew up a key oil supply pipeline operated by US oil group Chevron, slashing output by 120,000 barrels per day, military and industry sources said Saturday. "The attack took place yesterday (Friday) near Escravos. The supply pipeline was blown up. The company has shut ...