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

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’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

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

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

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

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

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

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

Washington blasts OPEC+ supply cuts, threatens to reexamine anti-OPEC law

Ignoring the extensive lobbying by senior White House officials, Gulf nations delivered a blow to the US in their bid to provide 'stability and security to energy markets'

Saudi Arabia warns of OPEC+ cuts as Europe scrambles to boost winter supplies

European nations have boosted imports of Russian fuel to their highest since April as a winter supply crisis looms

UAE officials issue conflicting statements over OPEC+ production levels

As oil prices continue to climb, the UAE energy minister has made it clear his country supports the existing oil supply agreement with OPEC+ members

Saudi energy minister warns sanctions could lead to global supply shortage

Saudi Arabia's energy minister also announced that his country would supply Ukraine with liquefied petroleum gas

Biden makes U-turn on ‘punishment’ for Saudi Arabia: Report

The development would represent a major change in tone by the White House towards Saudi Arabia and is closely watched by energy experts and policymakers around the world

Kuwaiti government resigns over disagreement with parliament

This resignation marks the fifth time Kuwait City's government resigned from office in the past two years

Kuwait plans to increase diesel exports to EU

Kuwait City expects to raise its gas exports to Europe by fivefold this year compared to 2022, hoping to deliver 2.5 million tons worth of diesel annually

Despite friction with Turkiye, US forces increase patrols in Syria

About 900 U.S. troops are deployed to Syria, most of them sharing bases with SDF personnel in the northeastern part of the country

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

Iraq invites Russia to cooperate in joint energy projects

Despite a $27 billion contract with Total to produce gas, Iraq asked Russia to use its expertise to help lower flaring in its gas fields

Top advisor to Iran’s supreme leader calls for reopening of Saudi, Iranian embassies

The rivalry between Saudi Arabia and Teheran is more than 43 years old, spanning conflicts in Yemen, Iraq and Syria

Global finance vs global energy: who will come out on top?

There is more to the current struggle between the oil-consuming west and the oil-producing nations than meets the eye and it runs far deeper than the war in Ukraine

Saudi Arabia expresses ‘total rejection’ of US accusations

US officials have accused the kingdom of 'aligning with Russia' after being blindsided by a major oil production cut by the OPEC+ group of countries

White House to ‘reevaluate’ US relationship with Saudi Arabia

Ahead of the recent OPEC+ oil cut, Washington lobbied Kuwait, Saudi Arabia and the UAE to keep output stable, or even increase production

UAE President to visit Russia for bilateral talks

The visit happens just one week after OPEC+ announced an output cut of 2 million barrels per day, putting further pressure on the global economy

OPEC+ proposes output cut of two million barrels per day despite US pressure

The White House scrambled to persuade its Gulf allies to stop the production cut, with senior officials calling the move a potential 'hostile act'

UK-based Shell buys stake in Qatari gas field expansion project

The company took a 6.25 percent stake for a undisclosed amount, joining Eni, TotalEnergies, ConocoPhillips, and ExxonMobil in the North Field East project