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

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

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

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

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

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'

Iranian oil exports to Pakistan hindered by sanctions and thriving black market

Despite defying US sanctions on Russian fuel imports, Islamabad has shied away from doing the same with Tehran, hindering potential lucrative bilateral trade between the two neighboring states. 

Saudi Arabia raises oil prices for Asia, EU, US unexpectedly

The kingdom essentially increased the price for EU buyers by $2 a barrel, and 20 cents for US customers

Russia overtakes Iraq as India’s leading oil supplier

Since the start of the war in Ukraine, India has become the primary outlet for seaborne oil cargoes

Stolen Syrian oil: The fuel for Syria’s partition

The role of the US military in stealing Syria’s oil runs deeper than mere petty theft. The funds are used to prop up Kurdish self-rule and ensure Syria's geographic division.

Chinese leader urges GCC nations to adopt yuan, Shanghai exchange for oil and gas trade

Xi Jinping called China and Gulf nations 'natural partners' and urged regional leaders to be partners in promoting unity, development, and security

Turkish airstrikes decimate Syrian energy facilities: Oil Minister

The strikes have also worsened northern Syria’s water crisis, as a number of water pumps and desalination plants have been halted

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 Iraq pledge to adhere to OPEC+ cuts

The OPEC+ oil production cuts are set to last until the end of 2023

Vladimir Putin discusses western oil price cap with Iraqi PM

Russia and Iraq both agreed to the recent OPEC+ decision to reduce oil production due to global recession fears

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

Egypt cuts domestic gas usage to help Europe survive winter

Europe is facing down the barrel of a gun mere weeks before an embargo on Russian fuel is put into effect

Recession fears – OPEC cuts oil demand growth forecast

OPEC has made another cut to its global oil demand growth forecast, shaving around 100,000 bpd from its projections

Washington continues its oil looting operations across Syria

Just a day earlier, the US had stolen large quantities of oil and wheat from different areas in Syria

UAE tried to deter Saudi Arabia from OPEC+ cut to appease Washington: Report

Abu Dhabi warned the kingdom of the 'geopolitical fallout' that would result from angering the White House, a plea that reportedly left the Saudi crown prince 'unmoved'

Iraq reaches $9 billion in oil revenues, first increase in three months

Iraq's October oil revenues have brought its annual revenues to approximately $99.7 billion, already surpassing its revenues from 2021

OPEC+ trusted to balance oil supply and demand: UAE

Gulf oil giants remain steadfast in defending a major oil supply cut by OPEC+ despite threats made by the White House

US considers cutting military aid to KSA: Officials

According to the report, should KSA increase oil production by December's OPEC meeting, the US is unlikely to take any such measures

Biden turns to emergency oil reserves after latest snub from Gulf partners

The SPR has shrunk to its lowest levels in nearly four decades, as Washington continues to use the emergency reserves to keep fuel prices down

Saudi crude oil exports on the rise despite OPEC+ output cut

Saudi Arabia's increase in daily production compensates for the shortfall of other oil producing economies

KSA gave Washington ‘resounding no’ when told to delay OPEC+ cut: Report

While Saudi Arabia opposed Washington's demands, several other Gulf nations advocated to delay the OPEC+ cut by one month, in order to give US democrats breathing room ahead of midterm elections

Oil cuts: A perfect storm in US foreign policy 

The Biden administration’s poor dealings with oil producing countries will have major political and economic ramifications for the west

OPEC+ production cut ‘a victory for common sense’: Kremlin

Moscow says the production cut counterbalances the 'mayhem' caused by Washington over recent months