OPEC

Putin, MBS Agree to Pressure OPEC+ to Keep Oil Production Reduced

Russian strongman Vladimir Putin and Saudi Crown Prince Mohammed bin Salman said on Thursday that the two countries would pressure fellow members of OPEC+ to “adhere” to their agreements “in a way that serves the interest of producers and consumers,” a sign the two would join to pressure smaller member nations to keep production reduced.

Prince Mohammed bin Salman (R) welcomes Russian President Vladimir Putin (L) at Al Yamamah

Saudi Arabia Announces Solo Oil Production Cut After OPEC+ Meeting

Saudi Arabia announced a million-barrel-per-day (bpd) oil production cut on Sunday that would begin in July, a policy change following a meeting of the OPEC+ oil cartel in which several members failed to meet their production quotas and one, the United Arab Emirates (UAE), announced a production increase.

Abdulaziz bin Salman, Saudi Arabia's energy minister, center, speaks during a news co

China and India Received Record Amounts of Russian Crude in May

Data from two top ship tracking firms revealed that shipments of Russian crude oil to China and India, Russia’s top two buyers, rose by ten percent in May to hit record levels despite the Biden administration’s pleas to cut down on Moscow’s prodigious income stream by respecting sanctions and price caps.

The tanker Sun Arrows loads its cargo of liquefied natural gas from the Sakhalin-2 project

Wall Street Journal Claims Japan Broke U.S.-Led Russia Oil Price Cap

The Wall Street Journal, citing a Japanese government source, claimed on Sunday that Japan is now buying Russian oil above the $60 per barrel cap imposed by the Group of Seven (G7) nations and Australia in December to keep Moscow from using massive oil profits to finance its invasion of Ukraine.

Fumio Kishida, Japan's prime minister, speaks during the National Defense Academy's gradua

Zelensky Backs Saudi Arabia After Joe Biden Condemned Riyadh as Pro-Russia

Saudi Defense Minister Prince Khalid bin Salman pronounced himself “astonished” by the barrage of attacks from the Biden White House last week accusing Riyadh of siding with Russia in the eight-year-old invasion of Ukraine, citing Ukrainian President Volodymyr Zelensky’s kind words towards the country as contradicting Washington.

Ukrainian President Volodymyr Zelensky holds a press conference with the heads of state of