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Oil drops 5% on concern over size of OPEC output cut

Oil prices plunged anew this morning amid a closely watched OPEC gathering in Vienna, where major producers have yet to reach an agreement on anticipated output cuts, according to an official. WTI crude for January delivery lost …

Turkey to hold Kanal Istanbul tender in 2019

Turkey plans to hold a tender for the construction of a 45-km shipping canal running parallel to the Bosphorus, Turkish President Recep Tayyip Erdogan told a meeting of his AK Party in Ankara. “The Kanal …

Over 1 ton of heroin seized in Turkey's Erzincan

Over 1 ton of heroin was seized in the eastern Turkish province of Erzincan, the governorship said. According to the governor's office, anti-drug squads stopped a long-rig trailer truck en route from Istanbul to Van along the …

Four dead amid explosion in Iran's Chabahar

Four people have been killed and several more injured following a car bomb explosion in the largest port city in Sistan-and-Balochistan province, Chabahar. The blast near Chabahar's police headquarters on Shahid Rigi Boulevard …

Iran not to cut oil output while under sanctions

Iran will not discuss its OPEC quota as long as it is under sanctions, Iranian Oil Minister Bijan Namdar Zanganeh said, speaking after the session of the OPEC-Non-OPEC Joint Ministerial Monitoring Committee (JMMC) in …