OPEC+ agrees to hike oil output, warns of slow recovery after attacks
The rise is largely symbolic as some key members are unable to raise production amid the US-Israel war on Iran.
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From: Counting the Cost
How will Saudi Arabia’s oil output cut affect prices?
Saudi Arabia goes it alone in cutting oil production by one million barrels a day starting in July.
Published On 10 Jun 2023
Saudi Arabia to cut oil output by 1 million barrels a day in July
The rest of the OPEC+ oil producers agreed to extend earlier cuts in supply through the end of 2024.
From: Counting the Cost
Will the OPEC+ oil output cut make inflation worse?
In a surprise move, OPEC+ slashes oil production by 1.6 million barrels a day starting in May.
Published On 8 Apr 2023
OPEC does not control price of oil, says cartel chief
OPEC president talks to Global News Insight about output cuts, price volatility, and the war in Ukraine and its effect on prices.
Discounts make Russia third-largest oil supplier to India
Refiners in India, the world’s third-biggest oil consumer and importer, have been gorging on discounted Russian oil.
OPEC+ keeps oil targets amid weakening economy, Russian sanctions
Cartel wants to gauge impact of two measures aimed at hitting Russia’s oil revenues: price cap and EU boycott.
Turkey accuses US of ‘bullying’ Saudi Arabia over OPEC+ oil cuts
Turkey’s foreign minister slams US for ‘bullying’ Saudi Arabia after OPEC+ announced oil production cuts.
‘Troubled marriage’: Oil spat unlikely to break US-Saudi ties
Analysts say shared interests will sustain ties despite Washington’s promise of ‘consequences’ over oil production cuts.
From: Counting the Cost
Why did OPEC+ slash oil output?
OPEC+ group has agreed to its deepest cuts to oil production since the coronavirus pandemic, and the US is not happy.
Published On 15 Oct 2022
‘Total rejection’: Saudi denies any anti-US motive to OPEC+ cut
The US criticised the kingdom for insisting last week’s output cut was economically rather than politically motivated.
