08 December, 2024
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OPEC sticks with supply cuts as West tightens sanctions on Russian oil

London CNN Business  —  OPEC and its allies decided Sunday to stick with their existing policy of curtailing oil output, just hours before new Western sanctions on Russian crude exports come into force. The Organization of the Petroleum Exporting Countries, and other major oil producers including Russia, said they would continue to restrict supply by …

The post OPEC sticks with supply cuts as West tightens sanctions on Russian oil appeared first on Egypt Independent.

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Democratic senator says ‘there’s got to be consequences’ for Saudi Arabia after OPEC+ announces oil production cuts

CNN – A Democratic member of the Senate Foreign Relations Committee said Sunday that “there’s got to be consequences” after Saudi Arabia and a cartel of major oil producers moved to slash oil production last week in a move the White House said was “shortsighted” and hurtful to low and middle-income countries. “There’s got to …

The post Democratic senator says ‘there’s got to be consequences’ for Saudi Arabia after OPEC+ announces oil production cuts appeared first on Egypt Independent.

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Iraq’s commitment to OPEC Oil Reduction won’t affect Exports

By Hassan Al-Saeed for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq’s commitment to OPEC oil reduction won’t affect exports Iraq’s oil reduction per the recent OPEC+ agreement will not affect the country’s revenues, according to Iraq’s oil minister. Click […]

The post Iraq’s commitment to OPEC Oil Reduction won’t affect Exports first appeared on Iraq Business News.

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Why Saudi Arabia defied the US over OPEC oil supply cut

Abu Dhabi CNN  —  Saudi Arabia’s energy minister once famously said that the kingdom “derives pleasure from keeping everyone on their toes.” That is likely how White House officials and Democratic politicians were left feeling when the kingdom led OPEC to announce a mammoth oil production cut this week, causing fears of even higher inflation …

The post Why Saudi Arabia defied the US over OPEC oil supply cut appeared first on Egypt Independent.

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