OPEC

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Higher gas prices could soon hit U.S. drivers as Saudi Arabia doubles down on oil production cuts
Finance

Higher gas prices could soon hit U.S. drivers as Saudi Arabia doubles down on oil production cuts

By Grant Smith, Fiona MacDonald, Nayla Razzouk, Ben Bartenstein and Bloomberg
June 4, 2023
OPEC+’s decision to cut oil output risks increasing inflation and shows the body’s ‘pricing power is higher than it’s ever been,’ Goldman Sachs says
Finance

OPEC+’s decision to cut oil output risks increasing inflation and shows the body’s ‘pricing power is higher than it’s ever been,’ Goldman Sachs says

By
April 3, 2023
Surprise OPEC oil production cut sends price towards $100 and puts ‘renewed pressure on the Federal Reserve to keep hiking rates aggressively’
Finance

Surprise OPEC oil production cut sends price towards $100 and puts ‘renewed pressure on the Federal Reserve to keep hiking rates aggressively’

By Elaine Kurtenbach and The Associated Press
April 3, 2023
OPEC+ announces surprise oil production cut despite previous assurances
Finance

OPEC+ announces surprise oil production cut despite previous assurances

By Matthew Martin, Grant Smith and Bloomberg
April 2, 2023
Amin al-Nasser
Environment

Saudi Arabia’s national oil company raked in a record $161 billion profit last year, as the Ukraine war and OPEC+ drove a 46% increase

By Paul Wallace, Matthew Martin, Leen Al-Rashdan and Bloomberg
March 12, 2023
OPEC+ opts to ‘hunker down’ amid surging volatility and market uncertainty, holds steady on oil production
Finance

OPEC+ opts to ‘hunker down’ amid surging volatility and market uncertainty, holds steady on oil production

By Salma El Wardany, Grant Smith, Ben Bartenstein and Bloomberg
December 4, 2022
Reducing energy options doesn’t work. Just ask Europe—and the U.S. states where gas prices are rising
Commentary

Reducing energy options doesn’t work. Just ask Europe—and the U.S. states where gas prices are rising

By
October 18, 2022
Shot of an engineer looking over a power plant at sunset
Finance

Everyone’s been waiting for a global recession and we might have just hit a ‘tipping point,’ major energy body says

By
October 13, 2022
Joe Biden
Politics

Saudi Arabia releases lengthy statement saying Biden asked for delay in oil production cut to November

By Jon Gambrell and The Associated Press
October 13, 2022
Joe Biden
Politics

Biden is furious about Saudi Arabia’s move to cut back on oil ahead of the midterms. ‘There will be consequences’

By Aamer Madhani and The Associated Press
October 12, 2022
A senior man pumps gasoline into his car at a gas station with a concerned look on his face
Finance

Why U.S. gas prices are going back up and who’s to blame

By
October 6, 2022
Saudi Arabia's Minister of Energy Abdulaziz bin Salman.
Retail

OPEC tries to keep oil prices high and cuts output by 2 million barrels in a move that Biden calls ‘unnecessary’

By Salma El Wardany, Grant Smith, Ben Bartenstein, Fiona MacDonald and Bloomberg
October 5, 2022
Russian President Vladimir Putin
Commentary

Which side are they on? Our Saudi friends cannot have it both ways on oil politics

By Ro Khanna, Jeffrey Sonnenfeld and Steven Tian
October 4, 2022
A world map with OPEC countries illustrated as oil barrels with their respective flags.
Finance

OPEC is considering cutting oil output by 1 million barrels per day in a move that could add another shock to the global economy

By Salma El Wardany, Grant Smith and Bloomberg
October 3, 2022
Vladimir Putin
Environment

The price of oil is over $90 a barrel again after Russia and the oil cartel chose to cut production in October

By Alex Longley and Bloomberg
September 5, 2022

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