In this week’s headlines, OPEC’s chief warns of market instability, while Iran strikes a $4.8 billion deal with French oil company Total.
by Martin Reed

1. OPEC Boss Warns of Oil-Market Instability If No Deal on Output

OPEC’s chief warned of prolonged instability in the oil market if the producer group and other major crude suppliers fail to act jointly to limit output and curb a global glut. (Bloomberg)

2. After sanctions, Iran signs preliminary $4.8B oil deal with French company Total

Iran has signed a preliminary $4.8 billion agreement with the French oil company Total — Tehran's first such deal after the nuclear accord with world powers removed international sanctions that had squeezed its oil-based economy. (Fox News)

3. Saudi oil shipments to Egypt halted indefinitely, Egyptian officials say

Saudi Arabia has informed Egypt that shipments of oil products expected under a $23 billion aid deal have been halted indefinitely, suggesting a deepening rift between the Arab world's richest country and its most populous. (Reuters)