FRANKFURT, Germany (AP) — The Saudi-led OPEC oil cartel and allied producers including Russia did not change their targets for shipping oil to the global economy amid uncertainty about the impact of new Western sanctions against Russia that could take significant amounts of oil off the market.
ABU DHABI, United Arab Emirates (AP) — Saudi Arabia and the United Arab Emirates defended on Monday a decision by OPEC and its allies to cut oil production, even as an American envoy warned of “economic uncertainty” ahead for the world.
DALLAS (AP) — President Joe Biden plans to release 15 million barrels of oil or more from the U.S.
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 drawdowns are possible this winter, as his administration rushes to be seen as pulling out all the stops ahead of next month’s midterm elections.
DUBAI, United Arab Emirates (AP) — Saudi Arabia said Thursday that the U.S. had urged it to postpone a decision by OPEC and its allies — including Russia — to cut oil production by a month. Such a delay could have helped reduce the risk of a spike in gas prices ahead of the U.S.
WASHINGTON (AP) — Senate Foreign Relations Committee Chairman Robert Menendez called Monday for freezing all U.S. cooperation with Saudi Arabia, delivering one of the strongest expressions yet of U.S.
ST. PETERSBURG, Russia (AP) — Russian President Vladimir Putin on Tuesday hailed a recent decision by OPEC, Russia and other oil producing nations to limit production as key to stabilizing the global energy market, as he met the leader of the United Arab Emirates for talks on fostering economic ties.
The announcement by Opec+ last week that it would cut oil production underscored how many screws Russia's Vladimir Putin has in reserve to put to a Western alliance that is supporting Ukraine's counteroffensive against Russian invaders.
TRENTON, N.J. (AP) — Gas prices rose in New Jersey and across the nation as a whole following the announcement by major oil-producing countries of plans to cut production.
AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $3.53, up nine cents from last week.
FRANKFURT, Germany (AP) — Major oil-producing countries led by Saudi Arabia and Russia have decided to slash the amount of oil they deliver to the global economy.
WASHINGTON (AP) — President Joe Biden on Thursday effectively acknowledged the failure of one of his biggest and most humiliating foreign policy gambles: a fist-bump with the de facto leader of Saudi Arabia, the crown prince associated with human rights abuses.
BEIJING (AP) — Asian stocks were mixed Thursday after strong U.S. hiring dampened hopes the Federal Reserve might ease off plans for interest rate hikes and the OPEC group of oil exporters agreed to output cuts to shore up prices.
OPEC+ makes big oil cut to boost prices; pump costs may rise
FRANKFURT, Germany (AP) — The OPEC+ alliance of oil-exporting countries has decided to sharply cut production to support sagging oil prices.
FRANKFURT, Germany (AP) — The OPEC+ alliance of oil-exporting countries decided Wednesday to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S.
FRANKFURT, Germany (AP) — OPEC and allied oil-producing countries, including Russia, made a small trim in their supplies to the global economy Monday, underlining their unhappiness as recession fears help drive down crude prices — along with the cost of gasoline, to drivers' delight.
WASHINGTON (AP) — President Joe Biden traveled to Saudi Arabia last month on the possibility that he could get some additional oil production out of OPEC+ in coming weeks, but the cartel and other nations announced a scant increase Wednesday.
China blocks some Taiwan imports but avoids chip disruptions
BEIJING (AP) — China has blocked imports of citrus, fish and other foods from Taiwan in retaliation for a visit by U.S. House Speaker Nancy Pelosi but avoided disrupting one of the world’s most important technology and manufacturing relationships.
The OPEC oil cartel and its allies decided Wednesday to boost production in September by a much slower pace than in previous months at a time of high gasoline prices and unstable energy supplies exacerbated by Russia's war in Ukraine.
DUBAI, United Arab Emirates (AP) — A veteran of Kuwait's national oil company took over Monday as secretary general of the OPEC oil cartel, just three weeks after his Nigerian predecessor died, only hours after giving a speech in defense of the energy industry.
ABUJA, Nigeria (AP) — The Secretary-General of the Organization of Petroleum Exporting Countries has died, Nigerian authorities and the oil cartel announced Wednesday.
NEW YORK (AP) — The OPEC oil cartel and allied producing nations decided Thursday to boost production of crude by an amount that will likely do little to relieve high gasoline prices at the pump and energy-fueled inflation plaguing the global economy.
TOKYO (AP) — Asian shares rose Friday amid mixed signs for investors such as rising energy prices and COVID-19 restrictions easing in China.
Trading was closed in China for the Dragon Boat Festival, a national holiday.
WASHINGTON (AP) — President Joe Biden has decided to travel to Saudi Arabia in the coming weeks and is expected to meet with the kingdom’s crown prince, whom he once shunned for his brutality. It's a visit that is coming together as OPEC+ announced Thursday it will pump more oil amid skyrocketing energy costs around the globe.
LONDON (AP) — The OPEC oil cartel and allied producing countries including Russia will raise production by 648,000 barrels per day in July and August, offering modest relief for a global economy suffering from soaring energy prices.
LONDON (AP) — OPEC and allied oil-producing countries decided Thursday to gradually increase the flows they send to the world, even as Europe’s plan to sanction Russian oil threatens to yank millions of barrels off a global market already thirsty for crude.
LONDON (AP) — OPEC and allied oil producers including Russia decided Thursday to stick to a modest increase in the amount of crude they pump to the world, a step that supports higher prices even as the Biden administration plans to try to lower them by releasing oil from strategic reserves.
DUBAI, United Arab Emirates (AP) — The United Arab Emirates' energy minister doubled down Monday on an oil alliance with Russia that's helped buoy crude prices to their highest in years as Moscow's war on Ukraine rattles markets and sends energy and commodity prices soaring.
DUBAI, United Arab Emirates (AP) — British Prime Minister Boris Johnson met Wednesday with the de facto rulers of Saudi Arabia and the United Arab Emirates in efforts to ease skyrocketing gasoline prices, as the West grapples with economic headwinds from Russia's invasion of Ukraine.
NEW YORK (AP) — The leaders of OPEC and its oil-producing allies are sticking with their plan to gradually increase oil production while Russia's invasion of Ukraine rattles markets, reshapes alliances, kills civilians and sends the price of crude skyrocketing.
DUBAI, United Arab Emirates (AP) — Leaders of the world's most consequential energy bodies gathered for a forum Wednesday to discuss the uncertain future of oil as demand rebounds and prices climb, all while a growing roster of nations pledge to transition to cleaner forms of energy.
FRANKFURT, Germany (AP) — Oil cartel OPEC and allied producing countries are sticking with cautious increases in the amount of oil they send to the global economy, a decision likely to support prices that are near seven-year highs amid fears of a Russian military move against Ukraine.
TRIPOLI, Libya (AP) — The head of Libya’s national oil company said on Wednesday that his country is targeting an output of 1.2 million barrels of oil a day in 2022.
Mustafa Sanallah, the head of Libya’s national oil corporation, said in a press conference in Tripoli that the country’s industry will strive to keep production at the same level as it achieved in 2021, but that severe budget shortages could pose challenges to maintaining its output.
FRANKFURT, Germany (AP) — OPEC and allied oil-producing countries decided Tuesday to pump more oil to the world economy amid hope that travel and demand for fuel will hold up despite the rapid spread of the omicron variant of COVID-19.