Browsing Tag
OPEC
12 posts
OPEC Will Maintain Some Output Cuts Amid Economic Fears in China and the U.S.
OPEC was founded in 1960 by Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela.
Russia, Saudi Arabia Call on OPEC+ Powers to Join Oil Output Deal
This initiative will be led by Saudi Arabia and Russia rolling over their voluntary cuts of 1.3 million barrel per day (bpd).
Russia’s Economy is Performing Well, OPEC Economists Find
The Russian economy is performing better than expected in the face of persistent external challenges, supported largely by…
Saudi Arabia is Slashing Oil Supply, it Could Mean Higher Gas Prices for U.S. Drivers
Saudi Arabia will reduce how much oil it sends to the global economy, taking a unilateral step to…
5 Ways the OPEC+ Production Cuts Will Affect the U.S.
1. Higher Consumer Goods In the past several months, ordinary Americans have faced rampant inflation, including higher prices…
OPEC to Cut Oil Output in Surprise Announcement
On Sunday, Saudi Arabia and other members of the OPEC+ oil producers surprised analysts by announcing additional oil…
Biden Releases 10 Million Barrels of Oil from Strategic Petroleum Reserve Following OPEC+ Cut
U.S. Strategic Petroleum Reserve levels are at their lowest since 1984.
Biden Turns to Venezuela for Oil After OPEC Slashes Production
The Biden administration proposed a deal that will ease sanctions on Venezuela, allowing Chevron to pump oil in…
WH Rails Against OPEC+ for Cutting Oil Production, Says Bloc ‘Aligning with Russia’
OPEC+ declared on Wednesday that it would cut oil production by 2 million barrels per day.
Gas Prices Rise as OPEC+ Cuts Production By 2 Million Barrels a Day
GasBuddy founder Patrick De Haan predicted the production cut will increase gas prices by up to $0.30 a gallon.