The Latest Breaking News from OPEC

Larry Summers Says Sense Of Saudi-Russian Collaboration 'Can't Be Happy One For Americans'

Former Treasury Secretary Lawrence H.

Benzinga · Oct 7, 2022

Putin Helped By Saudi Arabia In His 'Despicable' Ukraine War, Says Schumer As Anti-Oil Cartel Bill Gains Bipartisan Momentum

As the ‘No Oil Producing and Exporting Cartels’ (NOPEC) bill gained momentum among both parties, Senate Majority Leader Chuck Schumer (D-NY) said in his tweet that Saudi Arabia’s actions will long be remembered by Americans.

Benzinga · Oct 7, 2022

Chuck Schumer says ‘NOPEC’ bill targeting OPEC is on the table

WASHINGTON — Legislation that would allow the U.S. to sue OPEC nations is being considered as a possible response to the oil cartel’s production cut this week that benefited Russian President Vladimir Putin, said Senate Majority Leader Chuck Schumer on Thursday.

Tribune News Service · Oct 7, 2022

EXPLAINER: How will OPEC+ cuts affect oil prices, inflation?

Oil cartel OPEC and its allies are cutting production

The Independent UK · Oct 6, 2022

Biden says Opec+ production cut ‘shows there are problems’ with US-Saudi relationship

The president says he and his advisers ‘haven’t made up our minds’ on pursuing ‘alternatives’ including easing sanctions on Venezuela

The Independent UK · Oct 6, 2022

Opec output cut: Petrol, diesel price freeze in India just gets longer

NEW DELHI: The record six-month-long freeze in petrol and diesel price revision in all likelihood will be extended after international oil prices rose on the announcement of deep production cuts by Opec+.

The Times of India · Oct 6, 2022

Liz Truss: this is what happens when governments pursue growth at all costs

When Chancellor Kwasi Kwarteng unveiled his mini-budget on September 23, he was making it clear that the government is prioritising economic growth over inflation – which was one reason the financial markets reacted so badly to his plan.

The Conversation · Oct 6, 2022

Biden pardons all federal offenses of simple marijuana possession – as it happened

President urges governors to do the same with state offenses: ‘No one should be in a local jail or state prison for that reason’

The Guardian - US · Oct 6, 2022

Oil prices climb as world's biggest exporters agree to cut output

In Vienna, ministers from the 13-nation Organization of the Petroleum Exporting Countries (OPEC) and a group of 10 exporters led by Russia agreed to reduce production by 2 million barrels a day from November. The move pushed up global oil prices, but the Kremlin says production reduction is intended to…

Radio France Internationale · Oct 6, 2022

Drivers issued warning as petrol prices could rise again as oil supply slashed

Oil supplies are set to be cut by two million barrels per day and experts are warning drivers that they could see the knock-on effect at the petrol pumps as prices are expected to rise.

Glasgow Live · Oct 6, 2022