Kazakhstan’s financial police said a former Atyrau regional governor, Bergei Ryskaliyev, and his associates committed crimes that caused 71 billion tenge ($459 million) in damages to the state and individuals.
West Texas Intermediate advanced for a fourth day, the longest rising streak since August, as TransCanada Corp. will start part of its Keystone XL pipeline next month and U.S. crude inventories fell. The spread between WTI and Brent shrank to a nine-day low.
Iraq’s self-ruling Kurds agreed to let the central government in Baghdad control the amount and quality of crude they export as well as manage revenue from its sale, Iraqi Oil Minister Abdul Kareem al-Luaibi said.
Energy ministers from Iraq, Kuwait, Angola and Algeria expect OPEC to keep its crude production target unchanged tomorrow after Saudi Arabian Oil Minister Ali al-Naimi said the market is “in equilibrium.”
West Texas Intermediate rose for a third day amid forecasts U.S. crude stockpiles dropped last week for the first time since September. OPEC is poised to keep its production target unchanged at a meeting tomorrow.