The Latest Breaking News from OPEC

Saudi Arabia, on Thursday, voiced total rejection of the statements issued towards the Kingdom following the OPEC+ decision to cut oil production. An official at the Foreign Ministry stated that the Saudi government has viewed the statements issued about the Kingdom following the OPEC+ decision announced on October 5, 2022.…

Saudi Arabia says that the U.S. had urged the kingdom to postpone a decision by OPEC and its allies — including Russia — to cut oil production

Members of Congress raise prospect of one-year arms sales ban unless kingdom reverses Opec+ decision to cut output

The White House has laid out a national security strategy aimed at checking an ascendant China and a more assertive Russia

Reactions in Washington to slashing oil supply have not concerned Mohammed bin Salman; nor have the optics of indirectly boosting Putin’s war

Oil futures fell on Wednesday as a gloomy economic outlook and a strong dollar outweighed supply concerns stemming from last week's OPEC+ cut to its production target. Brent crude futures were down $1.42, or 1.5 %, at $92.87 a barrel by 1315 GMT. US West Texas Intermediate crude was down…

Saudi Arabia is slashing oil production before midterms in what some are calling a "hostile act" against Democrats

Saudi foreign minister says move was ‘purely economic’

United States President Joe Biden promised "consequences" for Saudi Arabia, after a Riyadh-led coalition of oil-producing nations sided with Russia to slash output.