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The Latest Breaking News from OPEC

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

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

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

From analysis to the latest developments in health,
read the most diverse news in one place.

OPEC slashes oil production as recession looms, with developing countries set to be the biggest losers

With a possible recession set to cut deeply into global demand for oil, the cartel is cutting production by 2 million barrels per day.

Crikey

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

OPEC Production Cuts Could Have Major Political Fallout

The midterm elections may hinge on how expensive gas prices become over the next four weeks.

The Street

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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

The New Daily

OPEC+ delivers Biden diplomatic slap with output cut

Washington (AFP) - President Joe Biden got a diplomatic slap in the face Wednesday with the OPEC+ cartel's decision to ignore both his efforts at isolating Russia and desperate attempts to hold down fuel prices ahead of midterm elections.

AFP

OPEC+ angers US with major oil output cut

Vienna (AFP) - Saudi Arabia, Russia and other top oil producers agreed on a major cut in production on Wednesday to boost crude prices -- a move denounced by the United States as a concession to Moscow that will further hurt the global economy.

AFP

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

The Independent UK

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.

Wales Online

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.

Roll Call

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…

Asharq Al-Awsat

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AFP

OPEC+ agrees major oil output cut, Biden 'disappointed'

Vienna (AFP) - OPEC and its Russia-led allies agreed on a major cut in oil production to boost crude prices on Wednesday, irking the United States which warned that it would hurt countries struggling with soaring energy prices.

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.

AFP

Oil prices climb as OPEC+ cuts output

London (AFP) - Oil prices climbed Wednesday as OPEC and Russia-led allies announced a major cut in output, while a stocks rally ran out of gas.

Reason

Rockets, Feathers, and Rising Gasoline Prices

Saudi Arabia snubs Biden by advocating OPEC cut oil production by 2 million barrels per day.

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France 24

OPEC+ agrees to cut oil production to boost prices

The OPEC+ alliance of oil-exporting countries on Wednesday decided to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S. drivers just ahead of key national elections.

Al Jazeera

OPEC+ cuts oil production by 2m barrels a day despite US pressure

US expresses disappointment in move that could spur an increase in oil prices, which had dropped in recent months.

The Guardian - UK

Fears grow over oil price as Opec+ agrees to bigger than expected output cuts

Cartel curbs production by 2m barrels a day despite strong US pressure, further squeezing supplies

AFP

OPEC+ agrees major oil output cut

Vienna (AFP) - OPEC and its Russia-led allies agreed on a major cut in oil production on Wednesday, a move to prop up prices that could bolster sanction-hit Moscow's coffers and irk Washington.

AFP

Oil prices wobble awaiting OPEC output cut

London (AFP) - Oil prices wobbled Wednesday as investors waited to learn the amount of an expected major cut in output by OPEC and Russia-led allies.

AFP

OPEC+ eyes major oil output cut

Vienna (AFP) - Ministers from oil exporting countries were expected Wednesday to agree on major production cuts to prop up prices, a move that could irk the United States as economies struggle with energy-fuelled inflation.

Axios

What OPEC's 2 million-barrel cut could mean for U.S. gas prices

OPEC and Russia are looking to prop up prices that have fallen greatly since early June.

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