AllSides Balanced Search reveals information and ideas from all sides of the political spectrum so you can get the full picture.
Jun 03 2024
News
Oil Hits 4-Month Low as OPEC+ Decision Fails to Allay Demand Worries
Oil prices tumbled more than $2 a barrel on Monday to their lowest in nearly four months, as investors worried about the demand outlook and took a complicated OPEC+ output decision as a sign that members of the producer group were eager to export more crude. Brent crude futures fell by $2.75, or 3.4%, to settle at $78.36 a barrel, closing below $80 for the first time since Feb. 7. U.S. West
Newsmax (News)
Nov 30 2023
News
OPEC+ Agrees to Significant Oil-Production Cut
OPEC+ agreed to a significant production cut of an additional million barrels a day, delegates said, in a move that will likely keep prices elevated amid the continuing conflict in the Middle East.
As part of the deal reached Thursday, Saudi Arabia also agreed to extend its cut of 1 million barrels a day that it announced in June.
Taken together, the moves are expected to
Wall Street Journal (News)
Nov 22 2023
News
OPEC+ Meeting Postponed To November 30: Statement
The ministerial meeting of the OPEC+ alliance originally scheduled for Sunday in Vienna has been rescheduled to Thursday, the Vienna-based Organization of the Petroleum Exporting Countries (OPEC) announced in a statement on Wednesday.
The 13-member OPEC group led by Saudi Arabia and their ten partners led by Russia are due to decide on their output policy amid slumping crude prices.
Barron's
Nov 23 2023
News
OPEC+ Says Delayed Meeting Will Be Held Online
The OPEC+ meeting that was pushed back by several days to Nov. 30 will now be held online, the group said on its website. The decision comes as Saudi Arabia and its oil allies are once again struggling with a dispute over output quotas for African members. The disagreement forced the group to delay its scheduled conference, sending crude plunging by as much as 4.9% to below $80 a barrel in
Bloomberg
Jun 03 2024
News
OPEC agrees to keep oil production cut, likely maintaining high prices through November election
The Organization of the Petroleum Exporting Countries (OPEC+) on Sunday agreed to extend output cuts through next year, likely keeping prices high through the November presidential election.
The alliance said after a meeting Sunday that the move was aimed at boosting slack prices that have lulled despite the ongoing war in Gaza and attacks on shipping vessels in the Red Sea.
Fox Business
Jun 02 2024
News
Eight OPEC+ Members Extend Voluntary Oil Supply Cuts: Saudi Ministry Emb-kym/js
Eight members of the OPEC+ group of oil-producing nations agreed Sunday to extend their voluntary supply cuts by a few months before gradually phasing them out, a statement by the Saudi energy ministry said after a meeting. The eight OPEC+ nations are Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman. Their voluntary supply cuts of 2.2 million barrels per
Barron's
Oct 10 2022
Perspectives Blog
When Biden Gets Screwed by OPEC
From the CenterWhen 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 administration
Dan Schnur
Nov 22 2023
News
Oil down 1% on bearish view of delayed OPEC+ meeting
Nov 23 (Reuters) - Oil prices fell 1% in early trading on Thursday, extending losses from the previous session, after OPEC+ postponed a ministerial meeting stoking views the producers might cut output less than earlier anticipated. Brent futures fell 81 cents, or 1%, to $81.15 a barrel, after falling as much as 4% on Wednesday. U.S. West Texas Intermediate crude dipped 72 cents, or 0.9%, to $
Reuters