Saudi Arabia and its Gulf neighbors are seeking to reassure foreign investors that it’s still safe to do business amid the turmoil around the Mideast.
Tag: Organization of the Petroleum Exporting Countries
Oil Prices Fall After Israel Reportedly Says It Won’t Target Iran’s Nuclear or Oil Facilities
Brent crude, the international benchmark, was trading at below $74 a barrel on Tuesday, a drop from the $80 range.
Conflict Between Israel and Iran Adds to Oil Market Volatility
Israel and Iran are fighting at a time when prices are under pressure because of weak demand in China and concerns about oversupply.
OPEC Plus Delays Plan to Increase Oil Output
OPEC Plus will extend its cuts until at least December. Demand has weakened, and other countries, including the United States, are expected to continue to increase production.
Why Oil Prices Remain Subdued
Despite war in the Middle East and political turmoil in Libya, investors are focusing on what look like ample global supplies.
F.T.C. Clears Exxon Mobil’s Acquisition of Pioneer Natural Resources
The Federal Trade Commission will bar Pioneer’s chief executive, Scott Sheffield, from joining Exxon’s board, saying he colluded with OPEC to reduce oil production.
Surging U.S. Oil Production Brings Down Prices and Raises Climate Fears
American oil production is hitting record levels, delivering economic and foreign policy benefits but putting environmental goals further out of reach.
Thursday Briefing: A Race to Extend the Gaza Truce
Plus the U.S. charges an Indian man in an assassination plot.
In a Shaky Oil Market, OPEC Has Bitter Decisions to Make
Anticipating a drop in demand for 2024, major producers, led by Saudi Arabia, are trying to reduce supply.
Russia and Saudi Arabia’s Oil Partnership Shows Strain
Analysts said the countries’ mutual need to keep energy prices high would help them maintain close ties, despite signs that Moscow has undercut previous deals.