Saudis Say US Sought One-Month Delay of OPEC+ Production Cuts
DUBAI, United Arab Emirates — Saudi Arabia said Oct. 13 that the U.S. had urged the kingdom to postpone a decision by OPEC and its allies — including Russia — to cut oil production by a month.
October 13, 2022Biden Calls OPEC+ Cut ‘Unnecessary,’ Signals New US Releases
President Joe Biden called plans by OPEC+ to cut output targets by 2 million barrels a day “unnecessary,” and the White House said more releases from U.S. petroleum reserves are possible.
October 5, 2022OPEC+ Boosts Oil Output by Slower Pace Than Previous Months
The OPEC oil cartel and its allies decided Aug. 3 to boost production in September by a much slower pace than in previous months at a time of high gasoline prices and unstable energy supplies exacerbated by Russia’s war in Ukraine.
August 3, 2022White House Expects More Saudi Oil After Biden’s Mideast Trip
The White House said it expects further oil supply increases from Saudi Arabia after President Joe Biden met with the kingdom’s rulers.
July 15, 2022OPEC’s First 2023 Outlook Shows No Relief From Oil Squeeze
OPEC’s first oil market outlook for 2023 suggests no relief for squeezed consumers, with more crude needed from the group even though most members are already pumping flat out.
July 12, 2022OPEC+ Oil Boost Unlikely to Ease Fuel Prices
NEW YORK — The OPEC oil cartel and allied producing nations decided June 30 to boost production of crude by an amount that will likely do little to relieve high gasoline prices at the pump and energy-fueled inflation plaguing the global economy.
June 30, 2022OPEC+ Opens Oil Taps Gradually as Russian War Roils Markets
LONDON — OPEC and allied oil-producing countries decided May 5 to gradually increase the flows they send to the world, even as Europe’s plan to sanction Russian oil threatens to yank millions of barrels off a global market already thirsty for crude.
May 5, 2022OPEC Sticks to Modest Boost in Oil Despite War Jitters
LONDON — OPEC and allied oil producers including Russia decided March 31 to stick to a modest increase in the amount of crude they pump to the world, a step that supports higher prices even as the Biden administration plans to try to lower them by releasing oil from strategic reserves.
March 31, 2022OPEC+ Supply Hikes Enough to Prevent Market Overheat, Oman Says
OPEC and its allies don’t want crude prices to climb to $100 a barrel, and are reviving production quickly enough to prevent global markets from “overheating,” Oman’s oil minister said.
January 11, 2022OPEC+ Sticks to Planned Supply Hike But Adds a Get-Out Clause
OPEC and its allies will proceed with their next oil-production hike, but said they could revisit the decision at any moment as the risk to demand from the omicron variant of COVID-19 becomes clearer.
December 2, 2021