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The Latest Breaking News from Oil

Ducks by Kate Beaton review – powerful big oil memoir

The cartoonist mines her time working in Canada’s oil fields to paint an angry and humane picture of the destructiveness of humankind

The Guardian - UK

Motorists warned that petrol prices are set to rise again

RAC says its a question of when, not if, prices increase

Wales Online

ADNOC CEO: Policies Aimed at Pulling the Plug on the Current Energy System are Misguided

Energy security is essential for social, economic and climate progress, said Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of Abu Dhabi National Oil Company (ADNOC). Speaking at the Energy Intelligence Forum in London, Dr. Al Jaber said market sentiment does…

Asharq Al-Awsat

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Drivers warned petrol prices will rise after oil supply slashed by 2m barrels a day

Members of the Organisation of the Petroleum Exporting Countries (Opec) and Russia have agreed to cut oil production by two million barrels per day as part of plans to stabilise prices

Daily Mirror

FTSE 100 Live: Oil price holds gains after OPEC move, Imperial Brands plans £1bn buyback

Brent crude futures remained near $93 today as traders evaluated OPEC’s controversial move to cut oil production by two million barrels a day from next month.

Evening Standard

Saudi Energy Minister Tackles Int’l Press Questions for an Hour

In a nearly-hour long conference, Saudi Energy Minister Prince Abdulaziz bin Salman, who also chairs the OPEC+ joint ministerial committee, tackled world-press inquiries about the future of oil market trends and outcomes of OPEC meetings with a sense of humor and joy. “Enjoy the sun…It’s going to be a sunny…

Asharq Al-Awsat

What the papers say – October 6

The national mastheads focus on further Tory turmoil and attacks by dangerous dogs.

The Independent UK

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Asian stocks mixed on strong US hiring, OPEC oil output cuts

Asian stocks are mixed after strong U.S. hiring dampened hopes the Federal Reserve might ease off plans for interest rate hikes and the OPEC oil production cartel agreed to shore up prices by cutting output

The Independent UK

US could ease Venezuela sanctions, allow Chevron to pump oil: WSJ

Biden administration preparing to ease sanctions if Caracas takes steps towards restoring democracy, report says.

Al Jazeera

Biden's new Saudi strategy

Biden sent a clear signal to the Saudis that he’s prepared to escalate after OPEC's production cut.

Axios

World Bank ‘has given nearly $15bn to fossil fuel projects since Paris deal’

A group of 50 NGOs found that bank and subsidiaries had funded oil refinery and gas processing

The Guardian - UK

Biden administration angered by Opec+ oil output cut

Senior figures see decision as a slight on the US and a sign that the oil producers club is aligning with Russia

The Guardian - UK

OPEC cuts oil production to drive up prices, ASX ends steady after volatile day

As the ASX finishes where it started, Saudi Arabia and Russia are on a collision course with the West after major producers cut oil production to drive up prices. The move could further increase energy prices, plunge the global economy into recession, and help Russia in its war in Ukraine.

ABC News

Morning mail: skills shortages soar, oil production cuts agreed, complaints over ‘off-meter’ taxis

Thursday: The number of occupations experiencing a skills shortage in Australia has almost doubled. Plus: Alec Baldwin settles prop gun death lawsuit

The Guardian - AU

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Reuters

Exclusive-Venezuela's opposition seeks U.S. consultations on Chevron license

Venezuelan opposition leader Juan Guaido asked the United States for details of Chevron Corp's expanded license request to operate in the South American country, according to a letter sent to a senior U.S. official on Monday that also asked to be consulted before any U.S. decisions.

The New Daily

Fuel price-rise warning as oil cartel agrees to significantly slash global production

A major oil cartel has announced the biggest cut in production in years which could push up fuel prices around the world while bolstering Russia's war in

France 24

OPEC+ to slash oil output, despite US lobbying

The group of oil producers known as OPEC+ say they will slash their daily output by 2 million barrels per day because of uncertainty in the global outlook. The decision has been slammed by the US, which had been lobbying for Saudi Arabia and other producers to pump more oil.…

Evening Standard

EU approves fresh sanctions on Russia after Putin annexes four regions of Ukraine

Russia’s declaration that four areas of occupied Ukraine are now its territory has been condemned by the international community

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news in one place.

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Reuters

Kuwait forms cabinet with new oil minister, finance minister re-appointed

Kuwait appointed a new cabinet on Wednesday, naming Hussein Ismail as oil minister to replace Mohammed Al-Fares and reappointing finance minister Abdul Wahab al-Rasheed.

The Independent UK

White House blasts Opec saying it is ‘aligning with Russia’ after oil production cut announcement

Oil producers’ announcement could drive up costs at worst possible time for Democrats

Wales Online

Opec+ to raise oil prices as it cuts production by two million barrels a day

The cartel has decided to cut oil production by two million barrels a day. The decision was made to control prices which have fluctuated wildly due to the war in Ukraine.

Roll Call

OPEC production cuts add fuel to domestic energy debates - Roll Call

Lawmakers said OPEC's move to cut oil production underscores the need to break from fossil fuels, but they disagree on how.

Asharq Al-Awsat

OPEC+ Agrees Oil Output Cuts of 2 Mln Bpd

The OPEC+ alliance of oil-exporting countries decided Wednesday to sharply cut production to support sagging oil prices. Energy ministers cut production by 2 million barrels per day starting in November after gathering for their first face-to-face meeting at the Vienna headquarters of the OPEC oil cartel since the start of…

Tribune News Service

OPEC+ tries to keep oil above $90 with large production cut

OPEC+ agreed to cut its collective output limit by 2 million barrels day, stoking tensions with the U.S. as the cartel seeks to halt a slide in oil prices caused by the weakening global economy.

Benzinga

Nasdaq Tumbles 200 Points; Crude Oil Rises Over 1%

U.S. stocks extended losses midway through trading, with the Nasdaq Composite dropping more than 200 points on Wednesday.

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