The Latest Breaking News from OPEC

Saudi Foreign Minister Prince Faisal bin Farhan has said that the OPEC+ decision to cut production is purely economic and was taken unanimously by the member states. The Foreign Minister said "OPEC+ members acted responsibly and took the appropriate decision," stressing that it is not a political move. During an…

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WASHINGTON — Top aides to President Joe Biden voiced their fury with Saudi Arabia over OPEC+ oil production cuts Tuesday, saying the administration was undertaking a sweeping reevaluation of its relationship and planned to engage with lawmakers clamoring to punish the kingdom.

Riyadh says oil production curbs are ‘purely economic’ as critics in Washington accuse it of empowering Moscow.

Moves by Opec+ to reduce production seen as siding with Putin over the US just as midterms loom

OPEC+ decided to cut oil production by 2 million barrels per day starting next month.

The Saudi government praised on Tuesday the pivotal role played by OPEC+ in achieving balance and stability in the global oil markets, and consequently, supporting the world economy. Custodian of the Two Holy Mosques King Salman bin Abdulaziz chaired the cabinet meeting that was held in Jeddah. The ministers reviewed…

‘In light of the Opec decision, I think that’s where he is,’ says John Kirby, spokesman for Biden’s national security council

Fuel price increase is blow to drivers amid soaring domestic energy costs and other inflation