A dispute over noncompliant coalition members Iraq and Nigeria threatens to derail a plan to extend OPEC production cuts
Saudi Arabia and Russia have agreed to extend record oil-production cuts through July, OPEC delegates said Wednesday, in a sign that many of the world’s largest oil producers are confident that oil demand will return quickly as coronavirus lockdown restrictions ease around the world.
Although the two nations are in agreement about how to supply a global oil market devastated by a demand-sapping pandemic, they are still completing a deal among a 23-country coalition known as OPEC-plus. The pact could be jeopardized if alliance...
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Saudi, Russia agree oil cuts extension, raise pressure for complianceOPEC leader Saudi Arabia and non-OPEC Russia have agreed a preliminary deal to extend existing record oil output cuts by one month while raising pressure on countries with poor compliance to deepen their cuts, OPEC+ sources told Reuters.
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‘Won’t fool anyone’: Saudi Arabia hosts UN fundraiser for Yemen aidThe UN needs $2.3bn to help avert ‘humanitarian catastrophe’ in the Arabian peninsula nation beset by war between Houthi rebels and a Saudi-UAE led axis.
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Fired U.S. State Department watchdog confirms probe of Saudi arms saleA State Department inspector general abruptly fired by President Donald Trump last month confirmed on Wednesday that he was investigating the declaration of a 'national emergency' to justify arms sales to Saudi Arabia when he was dismissed, members of the U.S. Congress said.
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Saudi, Russia agree oil cuts extension, raise pressure for complianceOPEC leader Saudi Arabia and non-OPEC Russia have agreed a preliminary deal to extend existing record oil output cuts by one month while raising pressure on countries with poor compliance to deepen their cuts, OPEC+ sources told Reuters.
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Oil leaps as major producers look to extend record production cuts through JulyOil continued its climb to past highs on Tuesday amid reports that OPEC+ members are eyeing extensions to record production cuts. Major producer...
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