FRANKFURT, Germany (AP) — Saudi Arabia and allied oil producing countries on Sunday extended output cuts through next year, a move aimed at supporting slack prices that haven't risen even amid turmoil in the Middle East and the start of the summer ...
Saudis Press for Big Cut in OPEC ProductionSAUDI ARABIA, the world's biggest oil producer, intends to demand a significant cut in output when Opec meets later this month, in a bid to halt a further slide in oil prices.Harrison, Michael...
Why are America’s longtime allies, Saudi Arabia and the United Arab Emirates (UAE), supporting Russia by agreeing with it tocut oil productionin the OPEC+ format? The U.S. and other Western governments have asked the Saudis and Emiratis — the only OPEC oil producers believed to have spa...
Saudi Arabia's oil minister dismissed the possibility Tuesday that major oil-producing countries will cut production to stabilize slumping crude prices. Anagreement between OPEC and non-OPEC countries to freeze production, however, still remains on the table. "A freeze is the beginning of a proces...
Saudi Arabia said Tuesday it will keep its latest round of oil production cuts in place until December, putting more upward pressure on oil prices which are trading near 10-month highs. Key Takeaways Saudi Arabia extended a production cut of 1 million barrels per day until December....
BERKELEY HEIGHTS, N.J. (AP) — The Latest on President Donald Trump and Saudi oil production (all times local):
Oil prices rose above $58 a barrel Thursday after Saudi Arabia signaled its support for an OPEC production cut designed to halt a precipitous fall in prices and send a message to a skeptical world market. Ministers from the Organization of the Petroleum Exporting Countries, meeting in Doha, Qat...
Saudi Arabia’s oil minister Khalid al-Falih announced today that Saudi Arabia will cut its production in December by 500,000 b/d but he shouldn’t expect any OPEC members to cut production since unlike Saudi Arabia they never raised oil production after the OPEC meeting in June this year....
After Saturday's attacks, Saudi Arabia saw production cut by 5.7 million barrels a day, according to Aramco. The country's total production hovers around 10 million barrels per day, with an average of 9.85 million barrels per day in August, data from the U.S. Energy Information Administration...
Saudi Arabia's economy swung dramatically from a budget surplus of $27.68 billion in 2022 to a deficit of $21.6 billion in 2023 as it ramped up public spending and decreased oil production due to its OPEC+ supply cut agreement. Its government forecasts a deficit (meaning the total amount of...