The Latest Breaking News from OPEC

The White House accuses Saudi Arabia of aiding Russia and coercing OPEC oil producers

A major oil output cut by Saudi Arabia, Russia and other oil producers has drawn sharp accusations in Washington.

WEKU · Oct 13, 2022

Oil output cuts 'raise recession risk'

LONDON: A decision by the Opec+ oil producers’ group last week to cut output has driven up prices and could push the global economy into recession, the International Energy Agency warned on Thursday.

Bangkok Post · Oct 13, 2022

Why is the US so angry with Saudi Arabia about oil supply cuts?

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

The Guardian - UK · Oct 13, 2022

Gloom oozes from energy forecasts that show oil demand dropping, heating bills rising

The weakening economy around the world will drive down demand for oil in the coming months, according to OPEC, while the U.S. government warns that households will pay more for heat this winter.

WEKU · Oct 12, 2022

3 Oil and Gas Stocks to Watch for Gains in October

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…

StockNews.com · Oct 12, 2022

Democrats issue fresh ultimatum to Saudi Arabia over oil production

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

The Guardian - UK · Oct 12, 2022

Biden global strategy tackles China, Russia, domestic needs

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

The Independent UK · Oct 12, 2022

Saudi Arabia is choosing friends on its own terms and Biden is not one of them

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

The Guardian - UK · Oct 12, 2022

Oil Falls as Strong Dollar and Recession Fears Weigh

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…

Asharq Al-Awsat · Oct 12, 2022

MBS accused of "election interference"

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

Salon · Oct 12, 2022