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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
Jun 05, 2023
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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
May 01, 2023
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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
Apr 02, 2023
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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
Feb 20, 2023
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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
Nov 29, 2022
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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
Nov 22, 2022
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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
Oct 14, 2022
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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
Oct 17, 2022
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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
Sep 06, 2022
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Oil prices drop by more than 1% after OPEC+ agrees to raise production levels
Jul 20, 2021
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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
Jun 06, 2023
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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
Jun 01, 2023
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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
May 31, 2023
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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
May 26, 2023
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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
May 23, 2023
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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
May 22, 2023
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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.
May 04, 2023
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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'
Apr 29, 2023
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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
Apr 28, 2023
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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
Apr 03, 2023
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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
Apr 01, 2023
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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
Mar 29, 2023
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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
Mar 22, 2023
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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
Mar 15, 2023
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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
Mar 06, 2023
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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
Mar 01, 2023
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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
Feb 22, 2023
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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
Feb 17, 2023
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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
Feb 17, 2023
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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'
Feb 17, 2023
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