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The Latest Breaking News from OPEC

Australia’s new approach was a rare positive at Cop27 – but now the need for action is all the more acute

Qualified victory was snatched from defeat at the climate summit with a genuine and surprising agreement on loss and damage. But there’s still no plan to get to 1.5C

The Guardian - AU

'Opec for nickel' proposal debated

A proposal by Indonesia, the world’s biggest nickel producer, to create an Opec-like group of suppliers of the metal used in EV batteries has raised eyebrows among Australian miners.

Bangkok Post

Saudi Crude Exports Surge to 29-Month High in September

Saudi Arabia's crude oil exports rose for a fourth straight month in September to the highest in 29 months, data from the Joint Organizations Data Initiative (JODI) showed on Thursday. Crude exports rose about 1.6 percent to 7.721 million barrels per day (bpd) in September - the highest since April…

Asharq Al-Awsat

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Saudis funneled "billions" to Trump fam

Earlier this week, Trump "struck a deal with a Saudi-based real estate company" on $1.6 billion development

Salon

Kiplinger Energy Outlook: Drivers Face Painful Prices at the Gas Station This Memorial Day

Road trips will cost far more this holiday weekend than they did last year. Is any relief in sight?

Kiplinger

Rishi Sunak meets Saudi Crown Prince - and doesn't mention journalist's brutal murder

The Prime Minister held 'lengthy' one-on-one talks with Mohammed bin Salman at the G20 summit - but did not bother to raise the cause of Jamal Khashoggi, Downing Street confirmed

Daily Mirror

Rishi Sunak did not raise Jamal Khashoggi’s murder in meeting with Saudi crown prince

Downing Street said the Prime Minister and Mohammed bin Salman met at the G20 summit in Bali.

Evening Standard

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Sunak did not raise journalist’s murder in meeting with Saudi crown prince

Downing Street said the Prime Minister and Mohammed bin Salman met at the G20 summit in Bali.

The Independent UK

Sunak meets Saudi Arabia’s controversial crown prince at G20

The PM was likely to use the encounter to encourage Riyadh to produce more oil and gas in response to the disruption of supplies from Russia.

The Independent UK

Relief in sight for motorists as petrol prices hit $2 a litre

Petrol prices have continued to rise over the past week and are now hovering around $2 a litre ahead of an expected dip before Christmas.

The New Daily

Labour would create ‘anti-Opec’ alliance for renewable energy, says Miliband

Shadow climate change secretary says group would cooperate to cut energy prices and promote clean technology

The Guardian - UK

France seeks to break Venezuela political deadlock at Paris Peace Forum

French President Emmanuel Macron has indicated he hopes the Paris Peace Forum, opening on Friday, will set the stage to relaunch the stalled dialogue between Venezuelan President Nicolas Maduro and his opponents. The South American nation remains a key OPEC oil producer as countries weather the global energy crisis.

Radio France Internationale

Brazil, Indonesia and DRC in talks to form ‘Opec of rainforests’

Spurred by Lula’s election, the three countries, home to half of all tropical forests, will pledge stronger conservation efforts

The Guardian - UK

OPEC Stresses the Importance of Increasing Oil Investments

OPEC Secretary-General Haitham al-Ghais stressed the importance of increasing investments in the oil sector to avoid any future volatility in the oil markets. Ghais said that among the main challenges are the energy transition and the future of energy in general, adding that OPEC has adopted a policy that aims…

Asharq Al-Awsat

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The Guardian - UK

Soaring diesel prices a ‘severe shock’ to UK motorists, says RAC

Cost rose by 10p a litre to average of 190.5p in October in third worst monthly increase on record

Asharq Al-Awsat

Arab Summit Hails OPEC+ Efforts in Securing Stability of Global Markets

Arab leaders on Wednesday concluded the 31st Arab League summit. The first Arab League gathering in three years took place against the backdrop of rising inflation, food and energy shortages, drought and the soaring cost of living across the region. The gatherers stressed the centrality of the Palestinian cause and…

Asharq Al-Awsat

OPEC Sec Gen Calls for Swift Action to Invest in Oil to Prevent Future Emergencies

The world must act swiftly to invest in oil to prevent future energy emergencies as global demand for the hydrocarbon grows in the long term, Organization of the Petroleum Exporting Countries (OPEC) Secretary General Haitham Al Ghais said on Tuesday. "If we don't get it right this time we are…

The Independent UK

Saudis tell US that Iran is prepping attack on kingdom

Saudi Arabia has shared intelligence with American officials that suggests Iran could be preparing for an imminent attack on the kingdom

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Asharq Al-Awsat

Abdulaziz bin Salman Stresses Saudi-UAE Cooperation for Future Energy Mix

Saudi Energy Minister Prince Abdulaziz bin Salman stressed that Saudi Arabia and the UAE were working to increase production capacity, enhance refining volume, and convert oil into petrochemicals. He noted that the two countries were seeking to provide a safe and sustainable energy system. In his speech on the sidelines…

Asharq Al-Awsat

Greece Stresses Saudi Role in Balancing Oil Markets, Respects OPEC+ Decision

Greek Minister of Development and Investment Adonis Georgiadis said the diversification of energy sources was the European Union’s most important priority. He noted that the world would never return to the previous situation, even if the Russian-Ukrainian war ended. In this regard, Georgiadis stressed that all European countries would try…

The Independent UK

Saudi, UAE back OPEC cuts as US envoy warns of 'uncertainty'

Saudi Arabia and the United Arab Emirates are defending a decision by OPEC and its allies to cut oil production

The Independent UK

Biden to head to Cambodia, Egypt, Indonesia for summits

President Joe Biden will make a week-long, three country trip next month for a quartet of summits—including one that could potentially put him in the same room as China’s Xi Jinping and Russia’s Vladimir Putin

Wales Online

Why is diesel fuel still so expensive right now compared to petrol?

It's all said to be down to demand - and Americans!

Asharq Al-Awsat

Reema bint Bandar: Revision of Saudi-US Ties Is a Positive Thing

Saudi Ambassador to the United States Princess Reema bint Bandar underscored the strength of the ties between Riyadh and Washington, describing them as strategic and dating back 80 years. In an interview to CNN aired on Tuesday, she said the United States’ revision of bilateral relations between Riyadh and Washington…

Reuters

Amid oil spat, White House welcomes Saudi moves on Ukraine

The White House on Tuesday welcomed moves taken by Saudi Arabia to help Ukraine in its war with Russia as President Joe Biden ponders how tough to be against the Saudis for joining an oil output cut.

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