The announcement by the Saudi-led OPEC Plus energy cartel that it would slash oil production was widely seen in Washington as a stab in the back of President Biden.
Tag: Organization of the Petroleum Exporting Countries
New E.U. Sanctions Against Russia Lay Out a Cap on Oil Prices
The measures come in response to Moscow’s recent escalation of the war, and a day after global oil producers decided to cut Russia’s crude supply, increasing its value on the world market.
Biden Administration Pushes Oil Producers to Keep Production High
U.S. officials have been in talks with oil-producing countries in an effort to prevent global oil prices from rising sharply.
Ostracized by the West, Russia Finds a Partner in Saudi Arabia
The two oil-producing countries have extended their partnership even as the United States and Europe have sought to punish and isolate Russia for invading Ukraine.
Biden’s Visit to Saudi Arabia Draws Criticism and Modest Accords
In the most politically problematic trip of his presidency, Mr. Biden’s critics accused him of helping rehabilitate the reputation of a tarnished prince in exchange for numerous, but limited gains.
Your Friday Briefing: Biden Releases Oil Reserves
The war in Ukraine is snarling global energy supply.
Iraqi Minister Says High Oil Prices Could Speed the Shift to E.V.s
Whatever the short-term benefits for producers, the market upheaval could accelerate the transition away from oil, he says.
OPEC and Allies Agree to Raise Oil Output Amid Lagging Production
The group called OPEC Plus decided to increase oil output by 400,000 barrels a day, but its members have lately been falling short of production quotas.
OPEC Plus Maintains Oil Production Plans
The oil cartel and Russia met less than a week after crude prices plunged amid worries over the Omicron variant.
OPEC Plus Maintains Oil Production Plans
The oil cartel and Russia met less than a week after crude prices plunged amid worries over the Omicron variant.