Opec

Will OPEC’s move to cut production drive a wedge in US-Saudi relations?

The decision comes with US midterm elections around the corner, applying domestic pressure on the Biden administration with gas price hikes set to hit consumers hard.

Saudi Arabia rejects framing OPEC+ oil cut decision as political

Decision of OPEC+ to cut its oil production target by two million barrels per day was "purely economic" and adopted through consensus, says Saudi Foreign Ministry, after Washington vowed "consequences" for US-Saudi ties.

Biden warns of 'consequences' for Saudi Arabia over OPEC+ oil cuts

US President Joe Biden tells CNN there will be some consequences for America’s Mideast ally after a Riyadh-led coalition of oil-producing nations decided to slash output.

Biden mulls OPEC response amid questions over Saudi arms sales

Biden administration is "assessing" its reaction to OPEC+ alliance's decision to cut two million barrels a day, officials say, as Western allies seek to cap oil money flowing into Russia's war chest.

OPEC+ agrees major oil output cut, irking US

The oil-exporting cartel cut production by a larger-than-expected 2 million barrels per day starting in November.

OPEC+ mulls oil output cut of over a million barrels per day

The reports come against the backdrop of falling oil prices and months of severe market volatility.

Has the ‘post-American’ Middle East arrived?

Once traditional allies of the US in the Middle East are now turning their backs on Washington and cozying up to Moscow and Beijing in a significant shift of loyalties.

OPEC+ agrees to cut oil output as it seeks to lift prices

OPEC+ says in a statement that it has decided to reduce output by 100,000 barrels per day in October, returning to the production level of August.

Oil prices climb ahead of OPEC+ meeting

Petroleum exporting states and allies will meet with the aim to keep current output levels or even cut production to bolster prices, despite supplies remaining tight.

Oil prices climb on OPEC supply cut prospect, rise in demand

OPEC is considering cutting output to offset any increase from Iran if the nuclear deal is reinstated.

Kuwait to hold parliamentary election in September

Crown Prince Sheikh Meshal al Ahmad al Sabah dissolved parliament earlier this month saying domestic politics were being "torn by disagreement and personal interests" to the detriment of the country.

Saudi Aramco unveils record $48.39B profit in Q2, beats expectations

Net income leapt 90 percent year-on-year for the world's biggest oil producer, which clocked its second straight quarterly record after announcing $39.5 billion for Q1.