OPEC+ sticks to reduced oil production as Saudi Arabia pledges bigger cuts

The powerful oil producing bloc has been slashing production quotas since last year, drawing the ire of the west

Arab OPEC+ members expand voluntary oil production cuts

The oil production cuts have offset the economic impact of Washington's interest rate hikes, as the US faces a slowing down economy and the possibility of a new recession

OPEC+ nations announce 1.5 million bpd oil production cut

Today's cuts follow a 2 million bpd cut last October, as fears of an economic slowdown continue to loom

Google, Saudi Aramco greenwashing oil production: Report

The internet giant maintains that the joint venture with Aramco is 'entirely green,' but critics question whether this is possible when collaborating with a fossil fuel powerhouse

UAE will speed up expansion of oil production facilities to meet global demand

The Emirati state-owned oil company will spend $150 billion over the next five years to raise the country's daily oil output by five million barrels

Saudi Arabia and Kuwait deny supporting OPEC oil production increase

The OPEC+ decision last month to cut oil production by two million barrels per day strained Saudi-US relations

War of words escalates as Washington says Riyadh ‘coerced’ Gulf nations to cut oil production

Despite the recent US posturing, officials in Washington say the White House has no plans to cut military cooperation with Saudi Arabia, fearing this would foster its bonds with Russia and China

Arab oil giants endorse OPEC+ production cut, shoot down US claims of ‘Saudi pressure’

The White House has been scrambling for a 'response' to their Gulf partners after failing to stop a major oil production cut ahead of midterm elections

Inflation battle – OPEC+ cuts production levels to boost oil prices

OPEC+ nations want to reduce oil output to compensate for high inflation and fears over a global economic recession

Oil prices drop by more than 1% after OPEC+ agrees to raise production levels

Syria sees upsurge in local wheat production

Syria’s agriculture minister says the country will soon slash wheat imports to 50 percent of what they were in 2022

OPEC+ bans western media outlets from oil policy meetings

At least three major western outlets are barred from attending upcoming meetings, reportedly at the behest of Saudi Arabia

Dutch vessel arrives in Yemen ahead of UN salvage of moored oil tanker

The FSO Safer has been moored off Yemen's coast since the start of the Saudi-led war, with activists warning that a leak could cause an environmental catastrophe

Saudi Arabia tops oil reserves with Russian fuel, sells its own to EU

Aggressive western sanctions against Russia in the aftermath of the Ukraine war have continued to backfire

Asia to be driving force of oil demand for second straight year: Vitol

The president of Vitol Asia warned that growing demand at a time when OPEC+ members are cutting output could lead to a supply shortage and significantly higher prices

Iraq, Russia agree to stick to OPEC+ production cuts

Arab members of the oil-producing bloc recently increased daily output cuts to stabilize market prices

Russian oil floods global markets via major Asian intermediaries

Despite western sanctions, there is more Russian fuel being exported around the world than before the Ukraine crisis. It's just coming via Saudi Arabia, India, China, and other trading states – with steep commissions.

US navy plunders shipment of Iranian oil at sea

Washington's latest oil theft operation in West Asia comes as US lawmakers urge Biden to seize more Iranian oil shipments to 'enforce sanctions'

Saudi Arabia may cut crude oil prices for Asian countries: Reuters

Saudi Aramco, may reduce its official selling price of crude by 40 cents to the barrel following months of price hikes

Saudi Arabia ignores US threats over oil cuts

The Saudi decision to cut oil production further despite previous US threats suggest Washington has lost leverage against Riyadh

Erbil, Baghdad reach preliminary agreement on oil export dispute

A prolonged halt on Kurdish oil exports could greatly damage the economy of the semi-autonomous Iraqi Kurdistan region

White House urges Turkiye, Iraq to resume Kurdish oil exports

Kurdish oil exports to Turkiye since 2014 have been deemed illegal by an international court

OPEC+ to maintain production target, despite price slump

The price of oil dropped a 10 percent following liquidity issues within the banking sector and losses in US and European markets

Saudi Arabia will cut oil supply of nations that impose price cap: Energy Minister

The Saudi official also criticized efforts by US lawmakers to pass the NOPEC bill, which would allow sovereign states to be sued in federal court

Saudi Arabia raises oil prices for EU, Asia

The price increase is partially based on China's economy opening up for business after a year of slow growth due to its zero-COVID policy

Gazprom CEO visits Tehran to advance $40bn oil and gas deal

Last year, Moscow signed an agreement to develop several of Iran's oil and gas fields and build LNG pipelines in the country

Saudi Arabia’s oil revenues reach $326bn in 2022, highest in 10 years

The kingdom's oil exports accounted for 70 percent of its total exports in 2022

UAE-backed mercenaries loot oilfields in Yemen’s energy-rich Shabwah: Report

ISIS and Al-Qaeda have been known to fight alongside UAE-backed mercenary groups such as the Giants Brigade and others

Russian security says it foiled ISIS attack on chemical plant

This week Russian intelligence accused the US army of training extremist militants in Syria to carry out attacks in the territory of former Soviet states

OPEC+ production cut will remain in place until year’s end: Saudi energy minister

Last year's production cut was taken as an affront by the White House, as for months US officials lobbied threats against the kingdom for allegedly 'siding with Russia'