On Friday’s broadcast of HBO’s “Real Time,” host Bill Maher and Eurasia Group and GZERO Media Founder Ian Bremmer stated that OPEC’s cartel has effectively been ended, which is beneficial, and that the region building pipelines will help undercut Iran’s
Mohammed bin Zayed (MBZ), president of the United Arab Emirates (UAE), on Thursday welcomed Iraqi Kurdistan Region President Nechirvan Barzani for talks on developing stronger ties between Iraq, Kurdistan, and the UAE — which is looking for new friendships after announcing its departure from the OPEC cartel on Monday.
The UAE did not just leave OPEC on Monday. It may have given us a glimpse at the road map for the future of global trade and security.
The United Arab Emirates (UAE) announced on Tuesday that its 59 years of membership in the Organization of the Petroleum Exporting Countries (OPEC) will come to an end, effective May 1.
The Organization of the Petroleum Exporting Countries (OPEC) released its latest monthly report on Monday, revealing that oil production fell by 27 percent in March due to Iran using terrorist threats to close the Strait of Hormuz.
Saudi Aramco, the national oil company of Saudi Arabia, posted a 22 percent decline in profits for the second quarter of 2025.
The Organization of the Petroleum Exporting Countries (OPEC) on Thursday released an updated forecast for 2050 which anticipated soaring demand for oil in the medium and long term, once China’s economic outlook improves.
Russia’s state statistical agency, Rosstat, reported on Friday that first-quarter gross domestic product (GDP) growth was only 1.4 percent, a steep decline from 4.5 percent growth in the last quarter of 2024.
OPEC+ has reportedly begun to “unwind” voluntary production cuts, reducing oil prices to punish recalcitrant members, and perhaps to please President Donald Trump.
President Donald Trump said on Thursday he would like to meet with Russian President Vladimir Putin “immediately” to negotiate an end to the Ukraine war. Putin responded on Friday that the Ukraine war might have been avoided if the 2020 U.S. presidential election had not been “stolen” from Trump.
Worldwide oil prices dropped roughly two percent on Monday after a comparable fall on Friday, driven by investor disappointment with the Chinese government’s weak economic stimulus plan.
Oil prices slip as investors digest the latest downbeat economic news from China, with extended slumps in retail and real estate.
OPEC+ announced it would extend existing overall limits on oil production through 2025, attempting to ensure prices do not fall too low.
COP28 went into “overtime” Tuesday and hammered out a “historic” compromise deal to “transition away” from fossil fuels.
The unhappy COP28 climate alarmism summit in Dubai rolled into its final scheduled day on Tuesday without the crown jewel sought by hardcore activists: a worldwide agreement to phase out fossil fuels.
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.
Saudi Crown Prince Mohammed bin Salman gave Russian strongman Vladimir Putin a warm welcome to Riyadh on Wednesday, proclaiming him a “cherished guest” of the country and signing a variety of agreements on space, sports, investment, energy, defense, and tourism, among other subjects.
OKLAHOMA CITY, Oklahoma — North Dakota Gov. Doug Burgum, a 2024 GOP presidential candidate, told Breitbart News here on Monday afternoon that Democrat President Joe Biden’s push to move America to electric vehicles is failing because the United States is nowhere near ready for it.
Former OPEC president Diezani Alison-Madueke has been charged with bribery offences, the UK National Crime Agency said on Tuesday.
Saudi Arabia and Russia, both members of the OPEC+ oil cartel and the two largest oil exporters in the world, announced deeper production cuts on Monday to push worldwide market prices higher. The cuts added up to a 1.5% reduction in the global supply of oil.
Saudi Energy Minister Prince Abdulaziz bin Salman said he “ignore[s]” concerns about the growing friendship between his country and China.
Socialist Venezuelan dictator Nicolás Maduro became the latest anti-American leader to forge ties with Saudi Arabia, receiving a warm welcome on Monday from Crown Prince Mohammed bin Salman in Jeddah the day before American Secretary of State Antony Blinken is set to arrive there.
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.
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.
On Tuesday’s broadcast of the Fox Business Network’s “Kudlow,” host Larry Kudlow reacted to the announced oil production cut by OPEC+ by stating that Saudi Arabia and Russia are “equal partners” in the production cut, arguing that the cut’s timing
China’s state-run Global Times propaganda outlet celebrated on Tuesday the oil cartel OPEC+ announcing a significant cut in its production the day before, claiming it as a victory against “U.S. hegemony” and a “stern warning” to America that it had lost global influence.
The surprise decision on Monday by the oil cartel OPEC+ to dramatically cut crude production preceded indications from the administration of leftist President Joe Biden in late March that it was not interested in imminently refilling supplies depleted out of America’s Strategic Petroleum Reserves (SPR).
On Monday’s broadcast of the Fox Business Network’s “Bottom Line,” Sen. Markwayne Mullin (R-OK) reacted to OPEC+’s announcement that it will cut production by pointing to Saudi Arabia’s recent China-brokered deal with Iran and arguing that President Joe Biden’s energy
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.
The oil-producing country coalition OPEC+ announced dramatic production cuts on Sunday totaling 1.16 million barrels per day (bpd), sending oil prices surging on Monday morning.
The government of Saudi Arabia dramatically increased purchases of Russian diesel fuel this month, apparently for use at home while selling more expensive Saudi oil abroad, reports indicated this week.
Saudi Energy Minister Prince Abdulaziz bin Salman enthusiastically opposed policies to cap oil prices – apparently in reference to Western price caps on Russian oil – in an interview on Tuesday and asserted that Riyadh would not sell oil to any country that capped its oil’s price.
Rep. James Comer (R-TN), the top Republican on the Oversight Committee, announced Sunday in a letter the committee is investigating a New York Times report of a “secret deal to boost oil production” between the Biden administration and the Saudis to lower gas prices just before the midterm elections.
The Biden administration, through the Department of the Treasury’s Office of Foreign Assets Control (OFAC), issued a license to California-based Chevron on Saturday that allows the company to produce and export oil from Venezuela.
The emir of Qatar, Sheikh Tamim bin Hamad, made a point on Tuesday of getting himself photographed waving the flag of Saudi Arabia during the Saudi match against Argentina at the 2022 World Cup soccer tournament.
Saudi Arabian Energy Minister Prince Abdulaziz bin Salman asserted Monday his country and other OPEC+ member nations “remain ready to intervene” and again cut oil production if they deem it necessary – a rebuke of a report in the Wall Street Journal claiming the oil cartel was preparing to increase supply.
On Wednesday’s broadcast of CNN’s “Situation Room,” White House Press Secretary Karine Jean-Pierre stated that “parts” of the report by The New York Times that American officials believed they had a deal with Saudi Arabia on oil supplies that the Saudis
The left-wing newspaper New York Times claimed in a report on Tuesday, citing anonymous sources in American and Gulf Arab governments, that Saudi Crown Prince Mohammed bin Salman had promised leftist American President Joe Biden an increase in oil production but “duped” the White House.
President Joe Biden and his administration worked extensively to work out a secret deal with Saudi Arabia to ease oil and gas prices right before the midterm elections, even though the Saudis ultimately backtracked.
During an interview with ABC News on Wednesday released on Thursday, Secretary of State Antony Blinken reacted to the recent OPEC+ oil production cut by saying that because we’re in a period where we’re attempting to bring back economic growth,
