AllSides Balanced Search reveals information and ideas from all sides of the political spectrum so you can get the full picture.
Nov 22 2023
A meeting of the Organization of the Petroleum Exporting Countries and its allies — together known as OPEC+ — scheduled for Sunday has been delayed, according to news reports. Bloomberg , citing delegates, said the meeting will take place later this weeks. The report said the delay came as talks stalled due to Saudi Arabia’s dissatisfaction with production levels by other members. Saudi ArabiaMarketWatch
Dec 04 2023
U.S. drivers don’t need to be too concerned about the first-quarter oil output cuts announced by major producers this week, but an extension of the reductions beyond March would be cause for worry when it comes to gasoline prices at the pump.
On Thursday, the Organization of the Petroleum Exporting Countries and their allies, together known as OPEC+, announced that several of itsMarketWatch
Apr 03 2023
Several of the world's largest oil exporters have said they are cutting their production levels, which has caused a leap in crude prices.
Saudi Arabia, Iraq and several Gulf states are together cutting supplies by one million barrels of oil a day and Russia, their fellow member in the Opec+ group, is extending its cut of half a million barrels per day until the end of the year.BBC News
Oct 10 2022
Perspectives BlogFrom the Center
When Joe Biden traveled to Saudi Arabia this past summer, he didn’t exactly grovel. But he swallowed a lot of pride.
During the 2020 presidential campaign, Biden had promised to make the Saudi government into an international “pariah” and promised to cut off arms shipments to the country if they did not improve their approach to human rights. Biden’s administrationDan Schnur
Jun 04 2023
OPEC and its allies will meet on Sunday to debate a new deal possibly adjusting countries’ output quotas and a further cut in production, sources told Reuters, as the group faces flagging oil prices and a looming supply glut.
OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies led by Russia, pumps around 40% of the world’s crude, meaning its policyCNBC
Jun 05 2023
Saudi Arabia raised its July prices for crude sales to Asian buyers on Monday, a day after an OPEC+ meeting in which it said it would slash oil output by 1 million barrels a day. Saudi Arabian Oil Co., commonly known as Saudi Aramco, raised prices for its benchmark Arab light crude by $0.45 a barrel for Asian buyers. The price the state oil giant sets is seen as a barometer for how SaudiMarketWatch
Apr 03 2023
Surprise new cuts to the OPEC+ group's output targets could push oil prices towards $100 a barrel, setting the scene for another clash with the West grappling with higher interest rates, analysts and traders said.
The decision signals unity within OPEC+ despite Washington's pressure on its Gulf allies to weaken their ties with Moscow, while also undermining the West's efforts to limitReuters
Jun 05 2023
Saudi Arabia announced a million-barrel-per-day (bpd) oil production cut on Sunday that would begin in July, a policy change following a meeting of the OPEC+ oil cartel in which several members failed to meet their production quotas and one — the United Arab Emirates (UAE) — announced a production increase. Saudi Arabia’s officials have spent much of the past year warning that dropping oilBreitbart News
Apr 03 2023
Global oil prices surged early on Monday, after markets were surprised by the announcement of an unexpected cut to crude output by the oil-exporting OPEC+ group of nations a day earlier.
Futures of global benchmark Brent crude rose to $84.19 per barrel—its highest level in nearly a month—up more than 5.3% from Friday.
The domestic West Texas Intermediate futures rose above $81Forbes