The oil price increased to US$52 per barrel after Saudi Arabia and Russia agree to cut back oil supply until 2018

Here is a brief overview of the weeks new on Oil Review Middle East, from 7th - 11th May 2017

Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency (IEA), which warned that both trends could into and through 2017

Alderley are delighted to be able to move back into the Iranian market since the lifting of sanctions