The OPEC+ meeting opened on Monday with Russia proposing a production hike of 500,000 barrels per day, but that measure was opposed by most members.
Saudi Arabia Will Cut Extra 1 Million Barrels a Day of Crude. What That Means for Energy Stocks.
Then, Saudi Arabia announced it would cut 1 million barrels a day in February and March while other nations hold steady or make minor increases. Oil prices surged above $50 for th …
Accord towards ending Gulf dispute result of Qatar’s ‘brave resistance’: Iran’s Zarif
Iranian Foreign Minister Mohammad Javad Zarif said on Tuesday an agreement towards ending a dispute between Qatar and Saudi Arabia and its allies was the result of Qatar’s “brave resistance to …
Gulf Arab leaders sign declaration to ease rift with Qatar
Gulf Arab leaders signed a declaration Tuesday to ease a rift with Qatar, following Saudi Arabia’s decision to end a 3 1/2-year embargo of the tiny energy-rich …
Arab states agree to end three-year boycott of Qatar
Reconciliation with Saudi Arabia, Egypt, Bahrain and the UAE includes a non-aggression pact …
Qatar and Saudi Arabia breakthrough is more exhaustion than compromise
Talk of brotherly unity rather than lessons learned dominated the Gulf Cooperation Council summit …
In ‘gesture of good will,’ Saudi Arabia to cut more oil output as Russia, Kazakhstan bump up production
The Organization of the Petroleum Exporting Countries and their allies, together known as OPEC+, reached an agreement Tuesday following an extended …
Russia, Kazakhstan To Increase Oil Output At Saudi Expense Following New OPEC+ Deal
Russia and Kazakhstan will increase oil production in February and March at the expense of Saudi Arabia as Riyadh seeks to keep the OPEC+ alliance together and maintain a tighter oil market as a …
Oil nears $50 a barrel after Russia, Saudi Arabia reach production compromise
Oil prices soared to near $50 a barrel Tuesday after Saudi Arabia and Russia reportedly agreed to maintain production cuts in February as coronavirus cases continue to climb globally. West Texas …
Qatar and Saudi Arabia officially end three-year feud at GCC summit
which comprises Saudi Arabia, the UAE, Bahrain, Kuwait, Oman, and Qatar. The meeting was chaired by the Saudi crown prince rather than his father, King Salman. Meanwhile, Qatar’s finance minister …