Plus the U.S. charges an Indian man in an assassination plot.
Tag: Organization of the Petroleum Exporting Countries
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.
Saudi Arabia Offers Its Price to Normalize Relations With Israel
The Saudi crown prince is seeking a civilian nuclear program and security assurances from President Biden, a steep price for an agreement long sought by Israel.
EU Embargo of Russian Oil and G7’s Price Cap Take Effect
An immediate impact on oil supplies in Europe was not expected, partly because the embargo has been in the works for months.
Oil Prices Slide as Investors Worry Energy Demand Is Slowing
The U.S. benchmark oil price fell to about $80 a barrel on Friday, and gasoline prices in some states are now close to $3 a gallon.
U.S., Allies Vow to Protect Ukraine’s Infrastructure From Russian Attacks
Top diplomats from the Group of 7 nations discussed sending more air defense equipment to Ukraine and agreed to coordinate on rebuilding its infrastructure.
Five Ways Sanctions Are Hitting Russia
Russia’s economy and residents have taken a battering, but the government continues to reap big revenues from energy sales. A partial European embargo on oil takes effect in December.
Saudis Find Sympathetic U.S. Ears at ‘Davos in the Desert’
A Saudi decision to support a cut in oil output infuriated Washington. But at an investment conference in Riyadh, there was plenty of praise for the kingdom.
U.S. Looks to Re-Evaluate Ties With Saudi Arabia Over Oil Production Cut
Saudi leaders decided earlier this month to join Russia in leading a cartel of oil producers to announce cutting production by two million barrels a day, which could raise prices and help Russia.