The Latest Breaking News from OPEC

Joe Biden has threatened ‘consequences’ after Opec+ decided to reduce output in a decision that will benefit Russia

Saudi Arabia, on Thursday, voiced total rejection of the statements issued towards the Kingdom following the OPEC+ decision to cut oil production. An official at the Foreign Ministry stated that the Saudi government has viewed the statements issued about the Kingdom following the OPEC+ decision announced on October 5, 2022.…

OPEC+ has announced a deep output cut from November, which should bolster prices. Moreover, analysts expect oil prices could reach the $125 mark in the near term amid supply cuts. Given this backdrop, we think investing in sound oil and gas stocks Marathon Petroleum (MPC), Valero Energy (VLO), and PBF…

Members of Congress raise prospect of one-year arms sales ban unless kingdom reverses Opec+ decision to cut output

The White House has laid out a national security strategy aimed at checking an ascendant China and a more assertive Russia

Reactions in Washington to slashing oil supply have not concerned Mohammed bin Salman; nor have the optics of indirectly boosting Putin’s war

Oil futures fell on Wednesday as a gloomy economic outlook and a strong dollar outweighed supply concerns stemming from last week's OPEC+ cut to its production target. Brent crude futures were down $1.42, or 1.5 %, at $92.87 a barrel by 1315 GMT. US West Texas Intermediate crude was down…

Saudi Arabia is slashing oil production before midterms in what some are calling a "hostile act" against Democrats

Saudi foreign minister says move was ‘purely economic’