Brent crude is climbing toward $100 a barrel after the two OPEC+ nations made a risky choice to slice their production.
Saudi Arabia has likely pulled in an extra $30 million a day in oil revenue, or about $2.6 billion over the past quarter.
Crude prices going above $100 per barrel mark brings inflationary pressures on global economy and will compel central banks to raise interest rates all over again.
Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group. Saudi Arabia will extend its voluntary 1 million bpd crude ...
Saudi Arabia and Russia on Tuesday deepened their oil supply cuts, announcing an agreement to continue scaling back production by 1 million barrels per day through the end of 2023. The voluntary ...
Extensions come despite oil rally, fresh blow to Biden Riyadh extends 1 mln bpd cuts to end-2023 Moscow extends 300,000 bpd cuts to year-end Both to review cuts monthly, may deepen or boost DUBAI ...
FILE - A customer pumps gas at an Exxon gas station, Tuesday, May 10, 2022, in Miami. Saudi Arabia and Russia agreed Tuesday, Sept. 5, 2023, to extend their voluntary oil production cuts through ...
Saudi Arabia and Russia, announced on Tuesday their plan to extend existing output cuts until the end of 2023, with possible monthly revisions. OPEC group’s swing producer Saudi Arabia said it ...
Oil prices hit a new high for the year so far after Saudi Arabia and Russia — the world’s biggest crude exporters — said they would extend output cuts by at least another three months. Brent ...
RIYADH (Reuters) - Saudi Arabia is expected to tap the international debt markets to finance a projected budget deficit in ...
U.S. crude oil production is forecast to rise more than previously thought in 2023, while global oil inventories are expected ...
FILE - A customer pumps gas at an Exxon gas station, Tuesday, May 10, 2022, in Miami. Saudi Arabia and Russia agreed Tuesday, Sept. 5, 2023, to extend their voluntary oil production cuts through ...
