Despite the huge gains, oil prices have still lost more than half their value this year. The market slumped in early March, when Saudi Arabia and Russia were unable to come to terms on a deal to curb production, and the Saudis boosted output to more than 12 million bpd and shipped disc...
Saudi Arabia (CBSMiami/AP) -- President Donald Trump called the first day of his maiden international trip "tremendous."The president was largely kept away from reporters during a busy day of meetings and ceremonies in Riyadh, Saudi Arabia. But late in the day, he said deals the U....
And, that leads us to the rationale for tariffs on Saudi oil. Tariffs: the rationale for them in the case of Saudi oil President Trump has said that he will consider tariffs to put a U.S. domestic floor on the price of oil. I am not normally a fan of tariffs as they amount to ...
The president on Friday renewed his call on the group of oil producing exporters, led by Saudi Arabia, to reduce the price of oil. It's a move he says would bleed Russia of much needed revenue to pay for the conflict and force Vladimir Putin to...
US President Donald Trump has urged Saudi Arabia to sharply increase its oil production to combat the rising cost of fuel. Mr Trump tweeted that he had asked Saudi ruler King Salman to raise output by up to two million barrels a day. "Prices to high! He has agreed!" the president added...
Prices started the session higher after Saudi Arabia's state oil company sharply raised prices for buyers in Asia. Prices also drew support from new U.S. sanctions against individuals and entities for facilitating shipments of Iranian oil to China. "The notice is out - if you're a refiner...
US President Donald Trump said on Sunday (15 September) that the United States was "locked and loaded" for a potential response to the attack on Saudi Arabia's oil facilities, after a senior official in his administration said Iran was to blame. Trump also authorized the use of the US ...
"I am also going to ask Saudi Arabia and OPEC to bring down the cost of oil. You got to bring it down," Trump said, appearing via video link from the White House. "Which, frankly, I'm surprised they didn't do before the election. That didn't show a lo...
Trump started talking about the war after mentioning Saudi Arabia, OPEC, and oil prices. “If the price came down, the Russia-Ukraine war would end immediately,” Trump said. “Right now, the price is high enough that that war will continue. You got to bring down the oil price. You co...
Oil fell 1% on Thursday after U.S. President Donald Trump urged Saudi Arabia and OPEC to bring down its cost during his address at the World Economic Forum. Uncertainty over how Trump's proposed tariffs and energy policies would affect global economic growth and energy demand also weighed on ...