OPEC Members and Russia Set to Meet as Europe Faces Energy Crisis Saudi Arabia appears determined to bolster prices and continue coordinating with Russia during the Ukraine war.
Oil target cuts free up capacity in case of crises, OPEC head says
Oil output target cuts agreed by OPEC+ producers will leave them more supply to tap in the event of any crises, OPEC Secretary General Haitham al-Ghais told Al Arabiya TV on Friday.
Is OPEC ‘aligning with Russia’ after production cuts?
The United States has accused OPEC oil-producing nations of siding with Russia after a decision to cut oil output.
New E.U. sanctions against Russia lay out a cap on oil prices.
The measures come in response to Moscow’s recent escalation of the war, and a day after global oil producers decided to cut Russia’s crude supply, increasing its value on the world market.
EXPLAINER: How will OPEC+ cuts affect oil prices, inflation?
FRANKFURT, Germany (AP) — Major oil-producing countries led by Saudi Arabia and Russia have decided to slash the amount of oil they deliver to the global economy.
OPEC+ makes big oil cut to boost prices
The larger-than-expected drop in production – by 2 million barrels per day – could lead to higher pump prices and deal the global economy another blow.
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…
OPEC and Russia meet today, with a big cut in oil output on the table.
Saudi Arabia appears determined to bolster prices and continue coordinating with Russia during the Ukraine war.