OPEC+ keeps steady policy amid weakening economy, Russian oil cap

OPEC+ keeps steady policy amid weakening economy, Russian oil cap

No discussions about Russian price cap – delegates Oil prices have come under pressure from weak economy Next meetings to take place Feb. 1 and June 3-4 LONDON/DUBAI, Dec 4 (Reuters) – OPEC+ agreed to stick to its oil output targets at a meeting on Sunday as the oil markets struggle to assess the impact … Read more

Oil producer group in focus ahead of Russia sanctions

Oil producer group in focus ahead of Russia sanctions

Led by Saudi Arabia and Russia, OPEC+ agreed in early October to reduce production by 2 million barrels per day from November. Vladimir Simicek | Afp | Getty Images An influential alliance of oil producers on Sunday agreed to stay the course on output policy ahead of a pending ban from the European Union on … Read more

Oil output cuts on the table ahead of Russia sanctions

Oil output cuts on the table ahead of Russia sanctions

OPEC+, a group of 23 oil-producing nations led by Saudi Arabia and Russia, will convene on Sunday to decide on the next phase of production policy. Bloomberg | Bloomberg | Getty Images OPEC and non-OPEC oil producers could impose deeper oil output cuts on Sunday, energy analysts said, as the influential energy alliance weighs the … Read more

Saudi Arabia Eyes OPEC+ Output Increase Ahead of Restrictions on Russian Oil

Saudi Arabia Eyes OPEC+ Output Increase Ahead of Restrictions on Russian Oil

Saudi Arabia and other OPEC oil producers are discussing an output increase, the group’s delegates said, a move that could help heal a rift with the Biden administration and keep energy flowing amid new attempts to blunt Russia’s oil industry over the Ukraine war. A production increase of up to 500,000 barrels a day is … Read more

North Korea could test tactical nuclear weapon before midterm elections, U.S. official says – CBS News

North Korea could test tactical nuclear weapon before midterm elections, U.S. official says – CBS News

North Korea could test tactical nuclear weapon before midterm elections, U.S. official says  CBS News World ‘holding breath’ over possible N Korea nuclear test: IAEA  Al Jazeera English North Korea nuclear test would show program moving ‘full steam’ – IAEA chief  Reuters US to work with Japan and South Korea to help Taiwan defend itself  CNA View Full Coverage … Read more

EXCLUSIVE U.S. says Russia oil price cap will not be aimed at OPEC

EXCLUSIVE U.S. says Russia oil price cap will not be aimed at OPEC

LONDON, Oct 19 (Reuters) – New steps from Group of Seven countries to cap Russian oil sales at an enforced low price will not be replicated against OPEC producers, whose plans to cut output have irked consumer countries, a United States Treasury official told Reuters. Washington has communicated to representatives of the Organization of the … Read more

Biden to release 15M barrels from oil reserve, more possible

Biden to release 15M barrels from oil reserve, more possible

WASHINGTON (AP) — President Joe Biden will announce the release of 15 million barrels of oil from the U.S. strategic reserve Wednesday as part of a response to recent production cuts announced by OPEC+ nations, and he will say more oil sales are possible this winter, as his administration rushes to be seen as pulling … Read more

Biden Administration May Try To Discourage American Businesses From Expanding In Saudi Arabia – MSNBC

Biden Administration May Try To Discourage American Businesses From Expanding In Saudi Arabia – MSNBC

Biden Administration May Try To Discourage American Businesses From Expanding In Saudi Arabia  MSNBC Stefanik: Biden impeachment ‘on the table’ for Saudi oil ask, Hunter biz  New York Post U.S. Democrats want tougher response on Saudi Arabia  The Washington Post The Saudi Regime Isn’t Afraid of Joe Biden  The Nation View Full Coverage on Google News

U.S. could sell oil from emergency reserve this week – sources

U.S. could sell oil from emergency reserve this week – sources

WASHINGTON, Oct 17 (Reuters) – The Biden administration plans to sell oil from the Strategic Petroleum Reserve in a bid to dampen fuel prices before next month’s congressional elections, three sources familiar with the matter said on Monday. President Joe Biden’s announcement is expected this week as part of the response to Russia’s war on … Read more

Alberta gas prices at standstill, while other major Canadian cities see price drop

Alberta gas prices at standstill, while other major Canadian cities see price drop

After weeks of a paying a premium for gasoline, drivers in some Canadian cities saw relief at the pumps. Heading into the weekend Vancouver experienced one of the biggest single drops in gas prices in Canadian history dropping 35 cents, making prices in many areas $1.93 per litre. “Due to the refineries starting to come … Read more