Archiv: OPEC (Organization of the Petroleum Exporting Countries) / OPEC plus / cartel


19:17 [ Wall Street Journal ]

OPEC+ Keeps Oil Curbs Despite Russia Price Cap

During a virtual meeting, the Organization of the Petroleum Exporting Countries and the Russia-led bloc—a group collectively known as OPEC+—decided to maintain production cuts of 2 million barrels a day, initially agreed to in October, OPEC said.

18:11 [ theHill.com ]

OPEC+ agrees to stay with existing oil output targets

Oil-producing alliance OPEC+ agreed on Sunday to keep its same production targets, dealing another setback for the U.S. and western allies seeking to curb high gas prices.

03.12.2022 - 18:41 [ jewishinsider.com ]

Biden’s Saudi recalibration a potential setback to prospects for Saudi-Israel normalization

(October 21, 2022)

Schneider is a co-chair of the Abraham Accords Caucus, as well as a lead sponsor of the DEFEND Act, which seeks to promote the creation of an integrated Middle East air-defense infrastructure, potentially including both Israel and Saudi Arabia.

Sen. Joni Ernst (R-IA), also an Abraham Accords Caucus co-chair and lead DEFEND Act sponsor, raised concerns that the White House was “disrupting… momentum” toward integrated air defense by postponing a United States-Gulf Coordination Council meeting focused on the issue following the oil production cut announcement.

03.12.2022 - 18:35 [ QZ.com ]

How the US Congress could defang OPEC and keep gas prices low in one stroke

(30.11.2022)

The idea was first put forth back in 2000, when antitrust lawyer Seth Bloom wrote the NOPEC Act. It stands for No Oil Producing and Exporting Cartels. The law would explicitly permit the US government to pursue price-fixing claims against oil-producing countries.

03.12.2022 - 18:28 [ china-environment-news.net ]

Egypt, Saudi Arabia & Qatar join Shanghai Cooperation Organisation as ‘Dialogue Partners’

(September 14, 2022)

Egypt and Qatar have been granted Dialogue Partner status of the Shanghai Cooperation Organization (SCO) following the admission procedure launched in September 2021 at the Dushanbe summit.

03.12.2022 - 18:19 [ CNBC ]

OPEC+ to consider deeper oil output cuts ahead of Russia sanctions and proposed price cap

OPEC and non-OPEC oil producers could impose deeper oil output cuts on Sunday, energy analysts said, as the influential energy alliance weighs the impact of a pending ban on Russia’s crude exports and a possible price cap on Russian oil.

OPEC+, a group of 23 oil-producing nations led by Saudi Arabia and Russia, will convene on Sunday to decide on the next phase of production policy.

03.12.2022 - 18:09 [ BBC / Youtube ]

G7 and allies approve cap on price of Russian oil – BBC News

It comes after the EU agreed on the price cap after persuading Poland to back it.

The price cap was put forward by the G7 group of nations in September and aims to stop Moscow profiting from oil exports while avoiding a price spike.

03.12.2022 - 02:09 [ Tagesschau.de ]

60 US-Dollar pro Barrel: EU beschließt Preisdeckel für russisches Öl

Aus Moskau kam Kritik: Nach Meinung des prominenten russischen Außenpolitikers und Duma-Abgeordneten Leonid Sluzki gefährdet die EU mit dem Preisdeckel ihre Energiesicherheit. Daneben verstoße die EU auch gegen die Marktgesetze, wie die Staatsagentur Tass über die Reaktion Sluzkis berichtete.

23.11.2022 - 15:24 [ Middle East Eye ]

Biden administration sticks to ‚vague‘ wording on Saudi ties after immunity decision

US will continue to review its relationship with Saudi Arabia despite the administration saying the crown prince has immunity from Khashoggi lawsuit

22.11.2022 - 20:37 [ @PeaceBelgium / Twitter ]

The last time the NOPEC bill came this close to passing was in 2007, when it got approved by the House of Reps in a 345-72 vote and the Senate by 70-23, only to die after George W. Bush threatened a veto. (good relations between George W. & the Kingdom in the aftermath of 9/11)

(17.10.2022)

22.11.2022 - 20:25 [ Reuters ]

Explainer: What is NOPEC, the U.S. bill to pressure the OPEC+ oil group?

(05.10.2022)

But several attempts to pass NOPEC over more than two decades have long worried OPEC’s de facto leader Saudi Arabia, leading Riyadh to lobby hard every time a version of the bill has come up.

With the Senate Judiciary Committee passing the bill in May, it needs to pass the full Senate and House and be signed by the president to become law.

22.11.2022 - 20:17 [ Pakistan Economic Net / Twitter ]

Oil rises after Saudis deny report of OPEC+ supply increase

22.11.2022 - 20:08 [ @echoreflection / Nitter ]

„late last night, the Biden administration quietly gave Saudi Arabia’s Prime Minister, Mohammed bin Salman, immunity from a lawsuit for the murder of Khashoggi, who had criticized the crown prince’s policies“

22.11.2022 - 20:03 [ thePostMillennial.com ]

Saudis may boost oil production after Biden admin shields crown prince from punishment in death of Jamal Khashoggi

A production increase of up to 500,000 barrels a day is now under discussion for OPEC’s December 4 meeting, delegates said.

20.11.2022 - 15:01 [ Oilprice.com ]

Oil Prices Fall On Easing Geopolitical Tensions

(17.11.2022)

Oil prices jumped on the initial reports of the incident, in which two people lost their lives, as initial reactions from politicians suggested a further escalation between the West and Russia.

Later, as the facts began to emerge, the comments changed and the tension was effectively defused, pushing prices lower.

12.11.2022 - 09:26 [ NewStatesman.com ]

Saudi Arabia is the biggest beneficiary of the war in Ukraine

(16 May 2022)

Cracks in the resolve began to show up immediately. Amid calls for more solar, wind and nuclear power, the UK government started to double down on domestic oil and gas production, and Boris Johnson, the Prime Minister, flew to Saudi Arabia to ask the regime to increase its oil output.

11.11.2022 - 08:18 [ Worldwide Exchange / Nitter ]

„The chances of getting NOPEC passed are actually declining,“ says @rbccm Global Head of Commodity Strategy @CroftHelima. „Democrats were really driving for this. I don’t really sense a lot of Republican enthusiasm.“ #Election2022 #Midterms2022 #OPEC

11.11.2022 - 08:09 [ Reuters ]

Explainer: What is NOPEC, the U.S. bill to pressure the OPEC+ oil group?

(05.10.2022)

But several attempts to pass NOPEC over more than two decades have long worried OPEC’s de facto leader Saudi Arabia, leading Riyadh to lobby hard every time a version of the bill has come up.

With the Senate Judiciary Committee passing the bill in May, it needs to pass the full Senate and House and be signed by the president to become law.

07.11.2022 - 08:07 [ theHindu.com ]

Russia becomes India’s top oil supplier in October

On being asked if India faces a moral conflict due to import from Russia amid the latter’s conflict with Ukraine, he had stated: „Absolutely none. There is no moral conflict. We don’t buy from X or Y. We buy whatever is available. Government does not buy, it’s the oil companies which do the buying.“

07.11.2022 - 07:48 [ Oilprice.com ]

Saudi Arabia Reiterates Commitment To China, Regardless Of U.S. Concerns

(Nov 01, 2022)

Saudi Arabia’s strategic pivot effectively marks the end of the 1945 core agreement between the U.S. and Saudi Arabia that defined their relationship up until extremely recently.

07.11.2022 - 07:42 [ AtlanticCouncil.org ]

Riyadh crosses the Rubicon toward Russia

(October 11, 2022)

This decision stands in stark contrast to the careful, muted responses of Chinese President Xi Jinping and Indian President Narendra Modi to Putin’s accelerating aggression in Eastern Europe and mounting threats to unleash nuclear war on the continent. Apart from buying Russian oil (at major discounts, most recently about $25 below Brent prices), neither the Chinese nor the Indians have offered Putin much in the way of diplomatic cover, military materiel or other direct substantive support since the earliest weeks of the illegal Russian invasion.

07.11.2022 - 06:46 [ Politico.eu ]

Russia obstructs Iran nuclear deal as the Kremlin frets over its oil income

(March 5, 2022)

Hopes had been high that international negotiators from the permanent five members of the U.N. Security Council, Germany and the EU would be able to secure a deal with Tehran on Saturday to put strict limits on Iran’s atomic work in exchange for sanctions relief for the Islamic Republic.

Such a deal would bring significant volumes of Iranian crude oil back to global energy markets in the months ahead, and that could spell trouble for Russian President Vladimir Putin.

07.11.2022 - 06:35 [ theCradle.co ]

Iran admits to drone delivery to Russia ‘before the war’

(05.11.2022)

The minister added that Tehran’s ties with Putin are based on neighborliness and common interests, the official Iranian news agency IRNA reported.

The Iranian diplomat maintained that during a conversation with his Ukrainian counterpart, Dmytro Kuleba, they agreed that Kyiv would hand over evidence of the use of those Iranian drones in the conflict. “If it is confirmed that Russia used Iranian drones in the war against Ukraine, we will not be indifferent to this issue,” Abdollahian stressed.

04.11.2022 - 07:50 [ theCradle.co ]

Saudi Arabia quells dissent inside the United States: Report

According to a report released by the European Saudi Organization for Human Rights (ESOHR), during the first half of 2022, Saudi Arabia executed 120 people, a number higher than that of 2020 and 2021 combined. The kingdom is on its way to surpassing the record of 186 executions set in 2019.

Most of the executions carried out this year took place on 12 March, when Saudi officials killed 81 detainees on charges of “terrorism-related activities.”

04.11.2022 - 07:39 [ jewishinsider.com ]

Biden’s Saudi recalibration a potential setback to prospects for Saudi-Israel normalization

(October 21, 2022)

Schneider is a co-chair of the Abraham Accords Caucus, as well as a lead sponsor of the DEFEND Act, which seeks to promote the creation of an integrated Middle East air-defense infrastructure, potentially including both Israel and Saudi Arabia.

Sen. Joni Ernst (R-IA), also an Abraham Accords Caucus co-chair and lead DEFEND Act sponsor, raised concerns that the White House was “disrupting… momentum” toward integrated air defense by postponing a United States-Gulf Coordination Council meeting focused on the issue following the oil production cut announcement.

01.11.2022 - 10:13 [ Reuters ]

Explainer: What is NOPEC, the U.S. bill to pressure the OPEC+ oil group?

(05.10.2022)

But several attempts to pass NOPEC over more than two decades have long worried OPEC’s de facto leader Saudi Arabia, leading Riyadh to lobby hard every time a version of the bill has come up.

With the Senate Judiciary Committee passing the bill in May, it needs to pass the full Senate and House and be signed by the president to become law.

01.11.2022 - 09:57 [ Oilprice.com ]

Deep OPEC Output Cuts Upend Biden’s Attempt To Lower Oil Prices

In an effort to combat rising prices, earlier this year President Biden began the largest drawdown of the Strategic Petroleum Reserve in U.S. history.
OPEC+ undid Biden’s SPR release by making deep output cuts, starting in November.
OPEC+ interests are fundamentally different than the interests of the U.S. consumer.

28.10.2022 - 17:13 [ Tagesschau.de ]

Statistisches Bundesamt: Inflationsrate steigt auf 10,4 Prozent

Die Preise für Energie legten laut des Statistischen Bundesamtes um 43,0 Prozent im Vorjahresvergleich zu. Auch die Preise für Nahrungsmittel stiegen im Vergleich zum Vorjahresmonat mit 20,3 Prozent überdurchschnittlich

28.10.2022 - 17:07 [ Rep. Susan Wild, Abgeordnete im US Repräsentantenhaus / Twitter ]

OPEC’s decision to slash oil production is a slap in the face to American interests. It’s time we restore the balance in this relationship. Today, @RepCindyAxne and I urged congressional leadership to bring up the NOPEC Act to crack down on the autocrats driving up PA gas prices.

(20.10.2022)

28.10.2022 - 16:24 [ Middle East Eye ]

Opec+ oil cut: The birth pangs of a new world order

Riyadh is apparently set on another course. It intends to join Brics and is increasing its cooperation with China, including through its unprecedented consideration of trading oil for yuan instead of dollars. The UAE is also making moves, with Abu Dhabi Crown Prince Mohammed bin Zayed recently visiting Moscow, and his energy minister saying Russia is irreplaceable in the oil market.

25.10.2022 - 10:04 [ jewishinsider.com/ ]

Biden’s Saudi recalibration a potential setback to prospects for Saudi-Israel normalization

(October 21, 2022)

Schneider is a co-chair of the Abraham Accords Caucus, as well as a lead sponsor of the DEFEND Act, which seeks to promote the creation of an integrated Middle East air-defense infrastructure, potentially including both Israel and Saudi Arabia.

Sen. Joni Ernst (R-IA), also an Abraham Accords Caucus co-chair and lead DEFEND Act sponsor, raised concerns that the White House was “disrupting… momentum” toward integrated air defense by postponing a United States-Gulf Coordination Council meeting focused on the issue following the oil production cut announcement.

25.10.2022 - 09:59 [ New York Times ]

Why OPEC Is Cutting Oil Production (and Why There’s Not Much the U.S. Can Do About It)

(Oct. 24, 2022)

If the United States follows through on its threats, the Biden administration would be a true maverick in Middle East policy, because no other administration — Republican or Democratic — has ever retaliated against Saudi Arabia in any serious manner for its oil policies.

25.10.2022 - 09:51 [ @PeaceBelgium / Twitter ]

The last time the NOPEC bill came this close to passing was in 2007, when it got approved by the House of Reps in a 345-72 vote and the Senate by 70-23, only to die after George W. Bush threatened a veto. (good relations between George W. & the Kingdom in the aftermath of 9/11)

(17.10.2022)

25.10.2022 - 09:44 [ Reuters ]

U.S. Senate panel advances bill to rein in OPEC+ over oil output cut

(19.10.2022)

The legislation could be debated by lawmakers after the Nov. 8 midterm elections.

25.10.2022 - 09:39 [ Times of Israel ]

Before heading to US, Herzog says he’ll discuss Iran threat, Lebanon deal with Biden

Noting that he is traveling at the invitation of “my friend” Biden, Herzog says his visit will focus on regional developments, chief among them “the Iranian threat, which is destabilizing not only the Middle East, but the entire world, requiring a firm and united stand against it.”

He will also discuss the Abraham Accords, the imminent maritime border deal with Lebanon, and “our desire and hope to have more nations join the circle of regional peace.”

19.10.2022 - 15:02 [ @PeaceBelgium / Twitter ]

The last time the NOPEC bill came this close to passing was in 2007, when it got approved by the House of Reps in a 345-72 vote and the Senate by 70-23, only to die after George W. Bush threatened a veto. (good relations between George W. & the Kingdom in the aftermath of 9/11)

19.10.2022 - 14:29 [ Oilprice.com ]

NOPEC Bill Would Mean The End Of Aramco And OPEC As We Know Them

(17.10.2022)

Riyadh’s alignment with Russia definitively started during that War and was irrevocably strengthened when Moscow agreed to support then-beleaguered Saudi Arabia and OPEC in their first post-Oil Price War production announcement at the end of 2016, forming ‘OPEC+’ (‘plus’ Russia) in the process. And Saudi Arabia’s move towards the autocracies of the East, with which its own autocracy is naturally aligned, was definitively concluded with China when Beijing allowed Saudi Crown Prince Mohammed bin Salman (MbS) to save face, and probably his eventual succession to the kingship as well, by offering to privately buy in 2017 all five percent of his disastrously conceived initial public offering of Saudi Aramco. Last week’s Saudi-led shock two million barrels per day (bpd) collective crude oil production cuts shows that MbS personally has nothing but contempt for the U.S., so it is little wonder that key figures in the West Wing of the White House are taking it so personally.

19.10.2022 - 14:15 [ Reuters ]

Explainer: What is NOPEC, the U.S. bill to pressure the OPEC+ oil group?

(05.10.2022)

But several attempts to pass NOPEC over more than two decades have long worried OPEC’s de facto leader Saudi Arabia, leading Riyadh to lobby hard every time a version of the bill has come up.

With the Senate Judiciary Committee passing the bill in May, it needs to pass the full Senate and House and be signed by the president to become law.

19.10.2022 - 05:43 [ Reuters ]

OPEC+ members endorse output cut after U.S. coercion accusation

(17.10.2022)

Khalid bin Salman on Sunday said he was „astonished“ by claims his country was „standing with Russia in its war with Ukraine“.

„It is telling that these false accusations did not come from the Ukrainian government,“ he wrote on Twitter.

19.10.2022 - 05:34 [ gulfif.org ]

Russia’s Double Game in the JCPOA Negotiations

(January 26, 2022)

However, the Russo-Iranian dispute did not end there. Instead, unrest over Ulyanov’s comments led to the voicing of broader concerns over Russia’s “domineering policy” vis-à-vis Iran. The Kremlin’s central role in the Vienna talks has touched off widespread jabs in Iranian mainstream and social media. Given Iran’s refusal to sit one-on-one with the U.S. side, Ulyanov’s release of a photo of a December 29 meeting between Russian and U.S. diplomats concerning the Iran nuclear deal, intensified the criticism.

Pro-government conservative newspapers within Iran downplayed criticisms of the Russian negotiators, which they described as psychological warfare initiated by the U.S. and Israel.

19.10.2022 - 05:04 [ Newsweek ]

Mohammed Javad Zarif Says Russia Wants to Stop U.S., Iran Nuclear Deal in Leaked Interview

(26.04.2021)

The release of the comments by Zarif set off a firestorm in Iran, where officials carefully mind their words amid a cut-throat political environment that includes the powerful paramilitary Revolutionary Guard, ultimately overseen by the country’s supreme leader. Zarif has been suggested as a possible candidate for Iran’s June 18 presidential election, as well.

Zarif’s comments might complicate talks in Vienna aimed at bringing Tehran and the U.S. back into compliance with Iran’s 2015 nuclear deal with world powers.

19.10.2022 - 03:53 [ Reuters ]

Iran agrees to ship missiles, more drones to Russia

Iran has promised to provide Russia with surface to surface missiles, in addition to more drones, two senior Iranian officials and two Iranian diplomats told Reuters, a move that is likely to infuriate the United States and other Western powers.

A deal was agreed on Oct. 6 when Iran’s First Vice President Mohammad Mokhber, two senior officials from Iran’s powerful Revolutionary Guards and an official from the Supreme National Security Council visited Moscow for talks with Russia about the delivery of the weapons.

19.10.2022 - 03:48 [ Kian Sharifi / Nitter ]

Iran’s MFA spox on Tuesday again denied that Tehran is „sending arms… to Russia to be used in the Ukraine war“. Iran has for months been denying supplying drones to Russia *to use against Ukraine*. That’s not a denial of arms sales to Russia.

18.10.2022 - 19:25 [ Reuters ]

Iran says it has not provided Russia with drones for use in Ukraine

(17.10.2022)

„The published news about Iran providing Russia with drones has political ambitions and it’s circulated by western sources. We have not provided weaponry to any side of the countries at war,“ said Iran’s Foreign Ministry Spokesperson Nasser Kanaani during a weekly press conference.

18.10.2022 - 18:53 [ Moscow Times ]

Iran to Bolster Weapons Aid to Russia for Use in Ukraine: Reports

Iran is planning to aid Moscow’s war in Ukraine by sending more weapons to Moscow, according to anonymous U.S. and Western security officials, the Washington Post reported.

The planned weapons delivery from Tehran could include two types of surface-to-surface missiles, officials said, adding to the Iranian attack drones reportedly supplied to Moscow back in August.

18.10.2022 - 07:24 [ L VINCENT ANDERSON / Nitter ]

Iran drones Pt.2 – “Claims of Iran providing Russia with drones is circulated by western sources. We have not provided weaponry to any side of the countries at war,” Iran FM Nasser Kanaani. EU’s Borrell said they would look for “concrete evidence.” Nice; that would really help

18.10.2022 - 07:14 [ BBC ]

Ukraine war: US says Iranian drones breach sanctions

„It is our belief that these UAVs that were transferred from Iran to Russia and used by Russia in Ukraine are among the weapons that would remain embargoed under 2231,“ said Vedant Patel of the state department.

18.10.2022 - 07:01 [ en.topwar.ru ]

Arestovich: Russia’s use of drones is aimed at ensuring that we use up our entire supply of anti-aircraft missiles

(today)

In a number of cases, strikes were carried out using Geran-2 loitering ammunition.

Commenting on the situation, Arestovich said that the Russian troops „picked up the key to the Ukrainian air defense.“

According to Arestovich, the massive use of drones by Russia is aimed at ensuring that Ukraine shoots off its entire stock of anti-aircraft missiles. At the same time, an adviser in Zelensky’s office claims that Russia “ordered about 2400 more drones from Iran.”

18.10.2022 - 06:52 [ en.topwar.ru ]

Enemy targets in Odessa have been hit in the morning with the use of drones „Geran-2“

(25.09.022)

Strikes continued with the use of loitering ammunition at enemy military facilities in Odessa. According to the latest data, the new strikes were carried out using Geran-2 strike drones, which are called an exact copy of Iranian Shahed-136 drones.

16.10.2022 - 18:34 [ MorningConsult.com ]

After OPEC+ Cuts Oil Supplies, Nearly Half of U.S. Voters Support ‘NOPEC’ Bill

(October 12, 2022)

There appears to be plenty of room for persuasion on the issue: Over a third of voters said they didn’t know or had no opinion on the topic.

16.10.2022 - 18:20 [ @JavierBlas / Nitter ]

US politicians are at it again: trying to pass the „No Oil Producing and Exporting Cartels“ or NOPEC Act. But let me show you a piece of history: 21 years ago, then Senator Biden (with the late Senator Specter) wrote to President Clinton urging the White House to sue OPEC

(17 Nov 2021)

The Biden-Spetcer letter explored two ways in which the two senators thought the US government could sue the cartel, one in US federal court and another one in, be prepared for it, the International Court of Justice at the Hague. The record is here:
https://www.govinfo.gov/content/pkg/CREC-2000-03-30/pdf/CREC-2000-03-30.pdf

Another piece of trivia-history. In 2007, then Senator Biden was a ‚co-sponsor‘ of NOPEC legislation in the Senate (via an amendment). Despite co-sponsoring the amendment, Biden later „did not vote“ for it (abstention). The record is here:
https://www.congress.gov/110/crec/2007/06/14/CREC-2007-06-14.pdf

16.10.2022 - 17:50 [ @AZgeopolitics / Nitter ]

Jake Sullivan says Biden has no plans to meet with the Saudi crown prince at the G20 summit.

12.10.2022 - 12:50 [ theHill.com ]

Congress eyeing ‘NOPEC’ bill to take on Saudi Arabia

Senate Majority Leader Charles Schumer (D-N.Y.) recently floated using the legislation, known as “NOPEC,” as one way to respond to the group, which includes Saudi Arabia and Russia.

Some lawmakers on both sides of the aisle have gone even further, saying that the decision by the Saudi-led group to reduce production by 2 million barrels a day is a reason to significantly shift relations with Riyadh.

12.10.2022 - 12:44 [ UpperMichigansSource.com ]

Biden vows ‘consequences’ for Saudis after OPEC+ cuts output

“There’s going to be some consequences for what they’ve done, with Russia,” Biden said. “I’m not going to get into what I’d consider and what I have in mind. But there will be — there will be consequences.”

11.10.2022 - 06:41 [ Fox News ]

Sen. Bob Menendez calls for end all cooperation with Saudi Arabia over OPEC+ oil cut

„The United States must immediately freeze all aspects of our cooperation with Saudi Arabia, including any arms sales and security cooperation beyond what is absolutely necessary to defend U.S. personnel and interests,“ wrote Menendez, who represents New Jersey and serves as the chair of the Senate Foreign Relations Committee.

09.10.2022 - 18:15 [ Haaretz ]

Saudi-Russian Collusion in Broad Daylight Sends a Clear Message to Biden

This is extremely rancid geopolitics on the Saudis’ and Russians’ part. The former are cynical, intent on raising the price of oil and increasing revenue. They’re also a political ingrate in their relationship with the United States. With the Russians, it’s all about creating discord between the United States and European Union in the hope that the EU will pressure Ukraine into accepting annexations by Russia and achieve a cease-fire.

The United States and the EU must now realize a strategic fact of life: They have no ally in OPEC.

09.10.2022 - 13:30 [ CommonDreams.org ]

OPEC’s Slap in the Face Shows Biden Critics Were Right About Meeting With Murderous Saudi Prince

President Joe Biden has a lot of reasons to be furious with his national security team who, against his better judgment, systematically pressured him for 18 months to do an about-face on Saudi Arabia.

The White House has reportedly been in a state of „spasm and panic“ since Wednesday, when it became clear that several of the U.S.’s Persian Gulf partners, led by Saudi Arabia and the United Arab Emirates, were set to commit what the White House considered „a hostile act“: an extensive cut in oil production coordinated with Russia’s Vladimir Putin, which will send oil prices soaring and very likely harm Democrats in the U.S. midterm elections in November.

09.10.2022 - 13:27 [ CNN ]

Inside the White House’s failed effort to dissuade OPEC from cutting oil production to avoid a ‘total disaster’

(05.10.2022)

But that effort appears to have failed, following Wednesday’s crucial meeting of OPEC+, the international cartel of oil producers that, as expected, announced a significant cut to output in an effort to raise oil prices. That in turn will likely cause US gasoline prices to rise at a precarious time for the Biden administration, just five weeks before the midterm elections.

09.10.2022 - 13:16 [ Fox News ]

Saudi Arabian minister of state blames high US gas prices on lack of American refinery production

„Oil is not a weapon,“ al-Jubeir said. „It’s not a fighter plane. It’s not a tank. You can’t shoot it. You can’t do anything with it. We look at oil as a commodity and we look at oil as important to the global economy in which we have a huge stake. The idea that Saudi Arabia would do this to harm the U.S. or to be in any way politically involved is absolutely not correct at all.“

08.10.2022 - 17:08 [ Oilprice.com ]

The OPEC+ Cut Is A Disaster For President Biden

Saudi Arabia, the country that will spearhead the production cuts (Russia is already producing at its decreased target), has put the Biden Administration between a rock and a hard place only several weeks before the midterm elections. Confronted with the prospect of rising gasoline prices, the White House needs to react swiftly if it does not want to be seen as weak.

08.10.2022 - 17:00 [ theGuardian.com ]

Putin and the prince: fears in west as Russia and Saudi Arabia deepen ties

(05.10.2022)

Instead, Joe Biden finds himself staring down a partner in the Middle East whom he had personally visited during the summer as the extent of the supply crisis became apparent. Biden walked away empty-handed and, as a result, faces the uncomfortable prospect of taking high bowser prices to midterm elections. Perhaps more importantly for the US president, a rise in oil prices could be seen as helping fund Putin’s war effort.

08.10.2022 - 16:56 [ Bloomberg ]

Putin Finally Finds a True Friend in Saudi Arabia

(05.10.2022)

The kingdom is putting the global economy and its own future sales at risk to help bankroll his illegal war.

08.10.2022 - 16:36 [ WorldOil.com ]

African Petroleum Producers Organization supports OPEC oil production cut

“It is a decision well taken,” said APPO secretary-general Dr Omar Farouk Ibrahim. “I believe it is the right thing to do to save the industry and also to ensure that there is stability for today and tomorrow.”

The decision by OPEC, which includes major oil producers Russia and Saudi Arabia, as well as African countries and APPO members Nigeria, Algeria, Angola, Congo and Libya, saw the price of Brent crude oil rise 1.5% to more than $93 a barrel.

08.10.2022 - 16:24 [ Reuters ]

Explainer: Why Russia stands to gain most from OPEC+ oil production cuts

(06.10.2022)

OPEC+ includes 13 members of the Organization of the Petroleum Exporting Countries and 11 allies led by Russia.

On Thursday, oil market watchers said that based on pure maths and OPEC+’s latest production data Russia was indeed set to benefit most from the decision.

07.10.2022 - 12:25 [ @Lucomo / Nitter ]

Bruch des Koalitionsvertrages: FDP, Grüne und SPD liefern an Saudi-Arabien, eine der schlimmsten Diktaturen der Welt, genau diejenigen Waffen, die im Jemen gegen zivile Ziele eingesetzt werden.

07.10.2022 - 12:18 [ Washington Post ]

The Saudi snub of Biden is a disaster. Democrats must respond.

Republicans are surely excited about the news that a group of oil-producing countries led by Saudi Arabia and Russia will slash oil production by 2 million barrels per day. In addition to threatening the global economy, it also could mean the specter of higher energy prices heading into the midterm elections, bolstering GOP attacks at a time when their potency has faded.

07.10.2022 - 12:05 [ New York Times ]

Biden’s Choice After OPEC Cuts: Woo Saudi Arabia, or Retaliate?

Senator Chuck Schumer of New York, the majority leader, said Saudi Arabia’s decision to ally with President Vladimir V. Putin’s Russia to shore up oil prices was a grave mistake.

“What Saudi Arabia did to help Putin continue to wage his despicable, vicious war against Ukraine will long be remembered by Americans,” he said. “We are looking at all the legislative tools to best deal with this appalling and deeply cynical action.”

07.10.2022 - 11:50 [ ORF.at ]

Biden zu Beschluss der OPEC+: Wir prüfen Alternativen

(06.10.2022)

US-Präsident Joe Biden hat enttäuscht auf die Entscheidung der Ölallianz OPEC+ reagiert, die Ölproduktion zurückzufahren. Auf die Frage, was seine Reaktion sei, sagte Biden gestern in Washington schlicht: „Enttäuschung.“

07.10.2022 - 11:43 [ Oilprice.com ]

Oil Prices Jump As OPEC+ Considers 2 Million Bpd Production Cut

(04.10.2022)

The first rumor was that Russia was pushing OPEC+ to implement a 1 million bpd production cut. The group was later reportedly considering a production cut between 500,000 bpd and 1 million bpd. Shortly after, yet another source said that OPEC+ was considering an even larger cut of more than 1 million bpd. The latest news from OPEC+ delegates suggests that the group is considering yet another option: a 2 million bpd cut.

07.10.2022 - 11:39 [ UkraineNews @Ukraine66251776 Oct 5 ]

OPEC and its allies, including Russia, approved a two million barrel-a-day cut in oil production on Wednesday. Biden is fuming

06.10.2022 - 15:48 [ ResponsibleStatecraft.org ]

Iran Nuclear Deal: Protests in Iran make restoring the JCPOA more urgent than ever

If the idea of withdrawing from the JCPOA was always bad, it is even more detrimental now considering the political shifts in Tehran. The moderate administration of Hassan Rouhani which sought better relations with the West has been wholly discredited by Trump’s aggressive policies. The hardliners who now dominate the whole political landscape in Iran have always been skeptical of the JCPOA.

Moreover, an influential faction within the hardline camp sees the JCPOA as irrelevant at best and constraining Iran’s security options at worst. According to this line of thinking, Iran has already weathered the storm of the U.S. sanctions. Following on from that, what Iran needs now is not to get sanctions lifted, but rather to further immunize Iran from them by seeking closer ties with Russia and China. Iran notably has become a full-fledged member of the Shanghai Security Organization.

05.10.2022 - 13:09 [ Oilprice.com ]

Oil Prices Jump As OPEC+ Considers 2 Million Bpd Production Cut

The first rumor was that Russia was pushing OPEC+ to implement a 1 million bpd production cut. The group was later reportedly considering a production cut between 500,000 bpd and 1 million bpd. Shortly after, yet another source said that OPEC+ was considering an even larger cut of more than 1 million bpd. The latest news from OPEC+ delegates suggests that the group is considering yet another option: a 2 million bpd cut.

30.09.2022 - 09:13 [ Oilprice.com ]

Oil Prices Could Be Set For Another Sharp Rise

OPEC and its sometime collaborator when interests align, Russia have fallen short of producing up to full quota levels by a significant amount. (…)

The Dallas Fed put out a report documenting the OPEC shortfall as well that points to key source of underperformance at the feet of none-other than Saudi Arabia.

16.09.2022 - 15:19 [ Geeta Mohan, Foreign Affairs Editor, @IndiaToday / Nitter ]

Would like to welcome new dialogue partners of SCO Saudi Arabia, Turkey, Egypt, Qatar, Bahrain, the Maldives, UAE and Myanmar. – Pak PM Shehbaz Sharif at #SCOSummit2022

16.09.2022 - 15:18 [ Tehran Times ]

Putin meets Raisi, say ‘our positions are close’

The SCO heads of state are expected to finalize the admission of Iran and grant the status of a dialogue partner to Egypt, Qatar, and Saudi Arabia.

Putin told Raisi that he was happy that Iran was joining the SCO.

15.09.2022 - 15:03 [ Tagesschau.de ]

Asiatischer Staatenbund: Iran rückt mit Russland und China zusammen

(heute)

Der Iran wird Mitglied in der Shanghaier Organisation für Zusammenarbeit (SOZ). Wie der iranische Außenminister Hossein Amirabdollahian auf seiner Instagram-Seite mitteilte, unterzeichnete die Teheraner Führung ein Abkommen über einen Wechsel vom bisherigen Beobachterstatus hin zur vollständigen Mitgliedschaft.

09.09.2022 - 14:23 [ LostinEU.eu ]

Es geht (auch) um Gas

(10. Mai 2018)

Im transatlantischen Machtkampf um Iran geht es nicht nur um das Atomabkommen und um neue Handelssanktionen. Eine nicht zu unterschätzende Rolle spielt – neben den lebenswichtigen Ölexporten – auch das Erdgas.

Iran gehört nämlich zu den Ländern mit den größten Gasvorkommen weltweit. Und die EU möchte davon profitieren, um sich von russischem Gas unabhängiger zu machen.

07.09.2022 - 19:25 [ SpectatorWorld.com ]

How the Saudis embarrassed Biden over oil prices

If the United States and Iran successfully wrap up their nuclear negotiations, Tehran will be free once again to sell its crude legally. According to one energy analyst, Iran could put 1 to 2 million barrels per day on the market rather quickly, which means an abundance of supply and lower returns (not to mention more competition) for the Saudis. While the nuclear talks have again hit a standstill over last-minute disputes, Riyadh doesn’t want to see oil drop to $65 a barrel and is therefore signaling to the market that adjustments will be made in the event Iran is able to return as a full player. Frankly, OPEC has gotten used to $100 a barrel crude, and it has no intention of going back to the days when supply vastly outstripped demand.

07.09.2022 - 19:17 [ Oilprice.com ]

Further OPEC+ Production Cuts Could Be Looming

(06.09.2022)

“The simple tweak shows that we will be attentive, preemptive and pro-active in terms of supporting the stability and the efficient functioning of the market to the benefit of market participants and the industry,” Prince Abdulaziz bin Salman said.

07.09.2022 - 19:08 [ Ali Vaez / Nitter ]

An Iran deal „could add up to 1m barrels/day to the market, BofA said, estimating that oil prices could temporarily drop by $10 to $15 per barrel. But OPEC+ would likely react swiftly, with other members taking some production out of the market“.

07.09.2022 - 19:02 [ Daniel DePetris / Nitter ]

Brent Crude has declined by more than 25% since March, when it hit $127 a barrel. If the U.S. and Iran come around to re-signing the JCPOA, an additional 1m bpd of Iranian crude could enter the market. OPEC+ is taking preparatory steps to ensure prices don’t plummet

06.09.2022 - 07:53 [ Centre for Research on Energy and Clean Air (CREA) ]

Financing Putin’s war: Fossil fuel exports from Russia in the first six months of the invasion of Ukraine

Key findings include:

Fossil fuels continue to fill Kremlin’s war chest, due to high prices

– Russia earned EUR 158 billion in revenue from fossil fuel exports in the first six months of the war (February 24 to August 24). The EU imported 54% of this, worth approximately EUR 85 billion.

– Fossil fuel exports have contributed approximately EUR 43 billion to Russia’s federal budget since the start of the invasion, helping fund war crimes in Ukraine.

– The largest fossil fuel importer was the EU (EUR 85.1bln), followed by China (EUR34.9bln), Turkey (EUR10.7bln), India (EUR6.6bln), Japan (EUR2.5bln), Egypt (EUR2.3bln, and South Korea (EUR2bln).

– Surging fossil fuel prices mean that Russia’s current revenue is far above previous years’ level, despite the reductions in this year’s export volumes.

06.09.2022 - 07:19 [ ORF.at ]

Studie: Moskaus Energieeinnahmen höher als Kriegskosten

Wie das in Finnland ansässige Centre for Research on Energy and Clean Air (CREA) heute mitteilte, betrugen die Einnahmen in dem Zeitraum umgerechnet 158 Milliarden Euro. Dem gegenüber stehen geschätzte Kriegskosten in Höhe von hundert Milliarden Euro.
(…)
Diese zeigten, dass die EU mit 85 Milliarden Euro der größte Abnehmer der Lieferungen war, gefolgt von China mit 35 Milliarden Euro.

02.09.2022 - 19:49 [ theGuardian.com ]

Energy price inflation: how the UK and EU could fight it

Is there international action that can be taken now?

It appears increasingly likely that some forms of coordinated international action will be taken, mirroring responses to the global financial crisis, the eurozone debt crisis and the Covid pandemic.

The former Italian prime minister Mario Draghi floated the idea of “a cartel of buyers” at a meeting with the US president, Joe Biden, in May. This would involve large oil consumers working together to negotiate prices.

02.09.2022 - 19:22 [ CNBC ]

An Iran nuclear deal revival could dramatically alter oil prices — if it happens

But so far, it seems there are a few remaining sticking points that are proving fairly difficult to resolve. The main issue of contention between the Iranian and Western camps is an ongoing investigation by the International Atomic Energy Agency — the U.N.’s nuclear watchdog — into unexplained traces of uranium found at Iranian facilities in the early 2000s. Tehran wants the investigation closed before they’ll accept any deal; the IAEA and U.S. and European governments are so far refusing.

02.09.2022 - 19:15 [ CNBC ]

G-7 nations back plan to cap Russian oil prices in a bid to drain the Kremlin’s war chest

Energy analysts have been highly skeptical about the integrity of the proposal, however, warning the policy could backfire if key consumers such as China and India are not involved.

Oil prices were higher on the news.

01.09.2022 - 16:23 [ Telegraph.co.uk ]

Putin has pulled off a shock win that could destroy the free world

We risk ending up with calamitous poverty, civil disobedience, a new socialist government by next year, a break-up of the UK, nationalisations, price and incomes policies, punitive wealth taxes and eventually a complete economic and financial meltdown and IMF bailout. The situation in the EU is, if anything, worse.

This is not a plea for pacifism, for looking away when Ukraine is being illegally invaded by a savage regime. Britain was – and remains – morally right to back Ukraine in a carefully calibrated way. Instead, this is a plea for an economic counter-offensive, for Liz Truss, the next PM, to tackle Putin’s economic and energy war head-on.

30.08.2022 - 20:07 [ Heise.de ]

Von der Gaskrise zur Regierungskrise

Aktuell negative Effekte werden vermutlich erst im kommenden Monat ihre Wirkung entfalten, prognostiziert Jörg Krämer, der Chefvolkswirt der Commerzbank: „Allein deshalb sollte die Inflation dann im September einen Sprung um ungefähr einen Prozentpunkt nach oben machen.“ Deutschland läge dann bei einer Teuerungsrate „vermutlich deutlich über 8,5 Prozent“.

Wladimir Putin kann sich diese Entwicklung in Moskau in Ruhe ansehen und den Gashahn drosseln. Nach Ungarn ist ja nun schon Bulgarien aus der Phalanx der Russland-Sanktionierer ausgeschert. Es wird nicht der letzte EU-Staat sein, wie man aus Brüssel hört.

25.07.2022 - 19:17 [ Kathimerini ]

Saudi crown prince to visit Greece to sign energy, telecoms deals

The ministry said the pair were due to sign bilateral deals, without giving details. A Greek diplomatic source said the deals were in the fields of energy, military cooperation, and an undersea data cable, among others.

Greece and Saudi Arabia agreed in May on the main terms to set up a joint venture to lay the data cable that will link Europe with Asia.

16.07.2022 - 21:55 [ Reuters ]

Biden fails to secure major security, oil commitments at Arab summit

President Joe Biden told Arab leaders on Saturday that the United States would remain an active partner in the Middle East, but he failed to secure commitments to a regional security axis that would include Israel or an immediate oil output rise.

16.07.2022 - 21:43 [ Reuters ]

Exclusive: Saudi Arabia doubles second-quarter Russian fuel oil imports for power generation

(15.07.2022)

Energy analytics firm Vortexa found rising flows of Russian-origin fuel oil cargoes through Egypt and Estonia boosted imports, Vortexa said.

It found Saudi fuel imports from Egypt spiked to a record 110,000 bpd in June as Egypt’s imports of Russian fuel oil jumped to a record 70,000 bpd in the same month.

16.07.2022 - 13:02 [ Bernie's Tweets / Nitter ]

SAUDI ARABIA – the world’s largest oil exporter, more than doubled the amount of Russian fuel oil it imported in the 2nd qtr, to feed power stations And have just told Biden they will be increasing oil in small amounts & sticking to OPEC ie. Russia. That went well then

12.07.2022 - 10:22 [ Oilprice.com ]

Saudis Unwilling To Upset Putin As Biden Begs For More Crude

(Jul 03, 2022)

The world’s largest crude oil exporter, Saudi Arabia, continues to keep close ties with Russia while the top oil consumer, the United States, pleads with major producers—including the Kingdom—to boost supply to the market and help ease consumers’ pain at the pump. While the U.S. and its Western allies are sanctioning Moscow and banning oil imports from Russia, U.S. President Joe Biden is also turning to Saudi Arabia to ask it to pump more oil as Americans pay on average $5 a gallon for gasoline.

12.07.2022 - 09:31 [ Yahoo.com ]

Biden’s Quest for Saudi Oil Faces Reality-Check of Slim Capacity

The US president’s visit to a country he once vowed to isolate represents a significant thawing of relations, but the Saudis and their OPEC partners have limited spare production capacity to offer in return for this political concession. Some market watchers also question whether tapping this supply buffer would calm energy markets, or just make matters worse.

“A surge in Saudi production seems unlikely,” said Ben Cahill, senior fellow at the Center for Strategic and International Studies.

12.07.2022 - 08:39 [ Al Jazeera ]

The Masochist in Chief: Biden, Israel and the Middle East

Israel is the only “western country” where Biden is less popular than Trump, even though his Middle East policy looks a lot like his predecessor’s – “the nuclear deal is out, the Saudis are in, and human rights are down”. And Israel is, once again, front and centre. If you thought his trip to Saudi Arabia is about Saudi Arabia or oil, think again. The main aim of his trip is to increase Israel’s security and deepen its integration in the region.

True, Biden is not the first president to spoil Israel rotten, but there is something much more bizarre about Biden’s relationship with Israel. It is sort of a sado-masochistic relationship – the greater the abuse the bigger the schmooze.

12.07.2022 - 08:33 [ New York Post ]

White House weighs restarting arms sales to Saudis as Biden visits: report

Senior Saudi officials have been in talks with their US counterparts in Riyadh and Washington for months about setting aside the ban that was established by President Biden in February 2021, Reuters reported. ​

Biden, who leaves Tuesday for a four-day trip to Israel, the West Bank and Saudi Arabia, is keen on resetting relations at a time when the US needs Saudi help to increase the global oil supply to bring down fuel prices that have reached record highs in recent months.

12.07.2022 - 08:22 [ Ynetnews.com ]

Netanyahu says will make peace with Saudis if back in power

In what he called a ‚policy statement,‘ at the start of his election campaign former PM says Biden visit important because of his direct flight from Israel to Saudi Arabia; extended appreciation to Saudi crown prince for his role in Abraham accords

28.06.2022 - 23:32 [ Demoracy Now! ]

France Says Western Powers Should Open Oil Markets to Iran and Venezuela

President Nicolás Maduro: “I would tell President Macron: Venezuela is ready to receive all the French companies that want to come to produce gas and petrol for the European market, for the global market. You are welcome to come whenever. The road is paved. We are prepared, ready and happy to do it.”

28.06.2022 - 09:13 [ AFP News Agency / Nitter.net ]

#BREAKING France wants oil from Iran, Venezuela back on the market: Macron’s office

(19 hours ago)

28.06.2022 - 09:06 [ Reuters ]

Powers need to study all oil options, including Iran, Venezuela -France

„There are resources elsewhere that need to be explored,“ a French official said on the sidelines of a G7 summit in Germany, when asked about how to alleviate high oil prices.

28.06.2022 - 09:01 [ Statecraft.co.in ]

Maduro Forms Energy Commission With Kuwait, Continuing Pushback Against US “Blackmail”

(15.06.2022)

In Kuwait on Tuesday, the fourth stop of his tour of the Middle East and North Africa, Venezuelan President Nicolás Maduro, formed a joint oil and gas commission aimed at strengthening the Organization of Petroleum Exporting Countries (OPEC+) and stabilising global oil prices.

28.06.2022 - 08:52 [ marketwatch.com ]

Oil prices end higher as the U.S. announces new sanctions on Iran

(16.06.2022)

Oil futures climbed on Thursday, shaking off early losses from economic growth worries in the wake of the Federal Reserve’s latest interest-rate hike, to finish higher after the U.S. announced new economic sanctions on Iran.

28.06.2022 - 08:23 [ FinancialPost.com ]

Oil rises $2/bbl after G7 vows new Russian sanctions

Oil rose $2 a barrel on Monday on the prospect of even tighter supplies loomed over the market as the Group of Seven nations promised to tighten the squeeze on Russian President Vladimir Putin’s war chest while actually lowering energy prices.

28.06.2022 - 08:18 [ Reuters ]

OPEC+ to stick to oil supply rise plan as Biden heads to Saudi – sources

(23.06.2022)

OPEC and allied producing countries including Russia will likely stick to a plan for accelerated oil output increases in August, sources said, hoping to ease surging oil prices and inflation pressure as U.S. President Joe Biden plans to visit Saudi Arabia and the Middle East.

28.06.2022 - 08:13 [ Reuters ]

Macron tells Biden that UAE, Saudi can barely raise oil output

(27.06.2022)

„I had a call with MbZ,“ Macron was heard telling U.S. President Joe Biden on the sidelines of the G7 summit, using shorthand for UAE leader Sheikh Mohammed bin Zayed al-Nahyan. „He told me two things. I’m at a maximum, maximum (production capacity). This is what he claims.“

„And then he said (the) Saudis can increase by 150 (thousands barrels per day). Maybe a little bit more, but they don’t have huge capacities before six months‘ time,“ Macron said.

28.06.2022 - 07:24 [ Bloomberg / Nitter.net ]

Saudi Arabia’s energy minister traveled to Russia in a show of support for the fellow OPEC+ member just as the US encourages the cartel to pump more oil and isolate Moscow

(18.06.2022)

21.05.2022 - 11:45 [ World Economic Forum ]

World Economic Forum Annual Meeting: List of confirmed Public Figures

Heads of State and Government 50
Foreign Affairs 30
Finance / Economy 43
Trade / Commerce / Industry 27
Central Bank 7
International Organizations 36
Digital / Information, Communication and Technology 11
Energy and Resources 11
Environment 17
Health 6
Labor / Social Affairs / Education 6
Transport and Infrastructure 5
Defence and Intelligence Chiefs 3
Others 58

20.04.2022 - 08:12 [ Foxbusiness.com ]

UAE energy chief doubles down on OPEC alliance with Russia

The United Arab Emirates‘ energy minister doubled down Monday on an oil alliance with Russia that’s helped buoy crude prices to their highest in years as Moscow’s war on Ukraine rattles markets and sends energy and commodity prices soaring.

The minister said Russia, with its 10 million barrels of oil a day, is an important member of the global OPEC+ energy alliance.

19.04.2022 - 22:06 [ Oilprice.com ]

Putin, Saudi Prince Vow To Continue OPEC+ Cooperation

Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman discussed this weekend their countries’ cooperation in the OPEC+ oil production pact in their second telephone call since Russia’s invasion of Ukraine.

Russia is a key partner to OPEC’s largest producer and de facto leader, Saudi Arabia, in the OPEC+ alliance, which has been working for years to manage oil supply to the market.

26.03.2022 - 20:59 [ ForeignPolicy.com ]

Biden Should Punish Saudi Arabia for Backing Russia

Riyadh could make a difference in oil markets but has chosen to side with fellow authoritarians rather than the United States.

20.03.2022 - 13:30 [ NBC News ]

Oil, weapons and realpolitik: Why some countries want to stay on friendly terms with Russia

India relies on Russian-made weapons, Israel needs Russia’s cooperation to strike inside Syria and Gulf Arab states look to Russia to help manage the oil market.

26.02.2022 - 15:24 [ ResponsibleStatecraft.org ]

US-backed Middle East states cozy up to Russia during Ukraine invasion

A few months later, the Ukrainian government asked the U.S. government to purchase the Iron Dome anti-missile system. Because the Iron Dome is a joint U.S.-Israeli project, the sale also required permission from the Israeli government, which Israel reportedly refused to grant.

That refusal was not based on any concern with whether the sale was a good idea for Eastern Europe, but on Israel’s desire to maintain a good relationship with Russia, according to the Times of Israel. Russia, which has forces stationed in Syria, gives Israel tacit permission to intervene in the Syrian civil war.

26.02.2022 - 09:30 [ Dmytro Kuleba, Minister of Foreign Affairs of Ukraine / Twitter ]

Kyiv, our splendid, peaceful city, survived another night under attacks by Russian ground forces, missiles. One of them has hit a residential apartment in Kyiv. I demand the world: fully isolate Russia, expel ambassadors, oil embargo, ruin its economy. Stop Russian war criminal

26.02.2022 - 09:28 [ Reuters ]

Ukrainian foreign minister calls for Russian oil embargo

Ukrainian foreign minister Dmytro Kuleba called on Saturday for a full isolation of Russia, including an embargo on the purchases of Russian crude.

„I demand the world: fully isolate Russia, expel ambassadors, oil embargo, ruin its economy,“ Kuleba wrote on Twitter.

11.11.2021 - 18:22 [ BBC ]

Food price rises highest since August 2020, says Kantar

(10.11.2021)

This is partly to do with the pandemic but is being compounded by Brexit, according to international policy forum the OECD.

However, the Bank of England’s deputy governor Ben Broadbent stated the pandemic is having a greater impact on labour shortages than Brexit currently.

27.10.2021 - 11:16 [ Oilprice.com ]

Oil Prices Will Remain High For Years To Come

(Oct 25, 2021)

Rebounding global oil consumption amid tight supply—contrary to some forecasts last year that indicate demand may have peaked or was close to its peak—as well as years of underinvestment in new supply following the 2015 crash, have prompted Wall Street banks to raise significantly their projections for oil prices in the short and medium term.

Oil prices have hit multi-year highs in recent days, with WTI Crude at its highest since 2014 and Brent Crude at the highest level since October 2018.

27.10.2021 - 11:04 [ Times of India ]

OPEC+ comfortable with rising price trend

(today)

„We don’t take things for granted, we still have COVID,“ Saudi Arabia’s energy minister and de facto leader of the OPEC+ group of major oil exporters said in a television interview on Saturday. „We are not yet out of the woods,“ he said. „We need to be careful. The crisis is contained but is not necessarily over.“

07.08.2021 - 05:07 [ Presstv.ir ]

Iran rejects any limit to oil exports after Russian envoy’s tweet

His remarks came in response to his Russian counterpart Mikhail Ulyanov’s tweet that hoped after the removal of the sanctions, „Iran will join efforts of OPEC+ to maintain the oil market stability“.

„This would be merely a national decision rather than a decision to be taken through joint efforts,“ Gharibabadi responded.

31.07.2021 - 14:18 [ Common Dreams ]

The Soldiers Who Resisted the First Gulf War Deserve Recognition

Lwin, a Burmese-American student and Marine reservist of Fox Company, led seven others in his unit to resist the U.S. Marine Corps, ultimately joining a mass exodus of the military in which soldiers deserted at higher percentages than even in the Vietnam War. The story of why these soldiers resisted, how and with whose help is lesser known but deserves greater recognition.

13.07.2021 - 05:26 [ Mark Harper / threadreaderapp.com ]

The Commons will tomorrow be asked to vote on ‘draft Health and Social Care Act 2008 (Regulated Activities) (Amendment) (Coronavirus) Regulations 2021’ Sounds fairly innocuous, no? These are actually the Regulations to bring in compulsory vaccination – not just for care staff…

…but based on preliminary intentions I am aware of in @DHSCgovuk, this will also mandate vaccination for those eg carrying out deliveries/servicing the boilers at such care homes…

13.07.2021 - 05:20 [ Telegraph.co.uk ]

Boris Johnson urges use of Covid vaccine passports

Prime Minister says venues with large crowds will be asked to adopt certification ‘as a matter of social responsibility’

13.07.2021 - 04:58 [ Tass.com ]

Press review: Russia, EU seek mutual okays on ‘vaccine passports’ and OPEC+ impacts ruble

Top stories from the Russian press on Friday, July 9th

21.10.2020 - 03:47 [ Al Arabiya ]

Saudi Arabia, US to increase cooperation in energy market, other sectors: Statement

During a press conference last week, Pompeo said the US supported “a robust program of arm sales to Saudi Arabia, a line of effort that helps the Kingdom protect its citizens and sustains American jobs.”

01.10.2020 - 04:31 [ Oilprice ]

Libya Oil Production Hits 300,000 Bpd As Another Oilfield Comes Online

Libya’s oil production has more than tripled since the port blockade has been lifted, reaching around 300,000 barrels per day (bpd) after the restart of another oilfield in the country, creating a new headache for fellow OPEC members who are trying to rebalance the market while demand is still weak.

17.05.2020 - 14:54 [ Al Jazeera ]

Iran media warn US against any move on fuel shipment to Venezuela

A senior official in President Donald Trump’s administration told Reuters News Agency last week the US was considering measures it could take in response to Iran’s shipment of fuel to crisis-stricken Venezuela.

26.04.2020 - 23:40 [ Reuters ]

U.S. renews waiver for Iraq to import Iranian electricity, shortens time

The United States has renewed a waiver for Iraq to continue importing Iranian electricity, a State Department official said on Sunday, but this time for a shorter period of 30 days, adding that Washington would be reassessing whether to renew again once a ‘credible government’ is formed in Iraq.

26.04.2020 - 23:36 [ Kurdistan 24 ]

Iraq says it is taking measures to maintain electricity supply ahead of summer season

Baghdad meets a part of its demand by purchasing resources it needs to supply its power plants from its neighbors like Iran.

12.04.2020 - 01:07 [ Reuters ]

Mexican president’s nationalist oil vision fuels standoff with Saudis

The biggest supply cut ever contemplated by the world’s top oil producers is hanging in the balance as a refusal by Mexico’s leftist leader to imperil his plans to rebuild state oil company Pemex has angered the Saudi prince who helped craft the deal.

11.04.2020 - 11:47 [ Hurriyet ]

Putin, Trump discuss oil prices, coronavirus over phone

Russian President Vladimir Putin discussed with his U.S. counterpart Donald Trump on April 10 the situation at globals oil markets, and the coronavirus outbreak over phone.

„An exchange of views was held on the situation at the global oil market, including the agreement being worked out within the framework of OPEC on reducing production in order to stabilize world oil prices,“ the Kremlin press service said in a statement.

09.03.2020 - 15:59 [ CNN ]

Oil crashes by most since 1991 as Saudi Arabia launches price war

Saudi Arabia escalated the situation further over the weekend. The kingdom slashed its April official selling prices by $6 to $8, according to analysts, in a bid to retake market share and heap pressure on Russia.

09.03.2020 - 15:55 [ Japan Times ]

Collapse of OPEC talks blows hole in Russian-Saudi alliance

(07.03.2020)

The OPEC+ meeting in the diary for June was unlikely to go ahead, a delegate said, and the dates were removed from the cartel’s website. Another person said Russia was still willing to join those talks.

Senior OPEC officials, from Secretary-General Mohammad Barkindo to United Arab Emirates Energy Minsiter Suhail Al Mazrouei, still held out hope that Russia would come back into the fold.

09.03.2020 - 15:41 [ CNN ]

US stocks halted after falling 7%. Global stocks plunge as oil crashes and coronavirus fear spreads

The S&P 500 (SPX) fell about 6%. The Dow (INDU) fell as many as 2,046 points. The Nasdaq Composite (COMP) was down 5.4%. The New York Stock Exchange halted trading for 15 minutes after stocks plunged more than 7%. They retraced some of their losses after the market reopened.

19.01.2020 - 12:07 [ Steffen Seibert / Twitter ]

Kanzlerin #Merkel ist heute Gastgeberin der #BerlinConference zu Libyen. Zur Vorgeschichte der Konferenz und ihren Zielen:

09.01.2020 - 16:32 [ Arab News ]

UAE sees no immediate risk to oil flow through Strait of Hormuz

The situation is not a war, and what is happening now should not be exaggerated, Suhail Al-Mazrouei said on the sidelines of a conference in Abu Dhabi, capital of the UAE, an OPEC producer.

“We will not see a war,” he added. “This is definitely an escalation between the US, which is an ally, and Iran, which is a neighbor, and the last thing we want is more tension in the Middle East.”

06.12.2019 - 10:56 [ Reuters ]

Saudi, Russia look to seal deeper output cuts with producers

Major oil producers Saudi Arabia and Russia will seek approval for deeper output cuts from OPEC and allies on Friday in an attempt to support prices and avoid a new oil glut.

13.10.2019 - 11:07 [ AlArabiya.net ]

Putin praises Saudi-Russian relations, condemns Aramco attacks, in interview

“If anyone thinks that seizing tankers and attacking oil infrastructure can in any way affect cooperation between Russia and our Arab friends, Saudi Arabia and the UAE, that they can undermine or break down our cooperation with OPEC+, then they are profoundly wrong,” said Putin, addressing a question on regional security.

“On the contrary, we will forge ever closer ties because our main goal is to stabilize global energy markets,” he added, saying that Russia remained committed to the initiatives of the OPEC+ group of oil producers driven by Saudi Arabia’s Crown Prince Mohammed bin Salman.

20.09.2019 - 18:15 [ Moscow Times ]

Russia Could Gain From Saudi Oil Attack – Analysts

(17.09.2019)

Russia is set to be a major winner after an attack on Saudi Arabian oil facilities slashed production and ramped up tensions in the Middle East, analysts predict.

In a frantic day for the world’s markets, oil prices climbed by almost 15% Monday following the drone attacks on Abqaiq, Saudi Arabia’s largest oil refinery, which pumps around 5% of the world’s oil supply.

15.09.2019 - 08:13 [ theGuardian.com ]

Pompeo: Iran behind attack on Saudi oil facilities that will reduce kingdom’s output

On Saturday, before Pompeo’s tweet, the White House said Trump had spoken to Saudi Crown Prince Mohammad bin Salman, “to offer his support for Saudi Arabia’s self-defense”.

14.09.2019 - 21:09 [ Wall Street Journal ]

Saudi Arabia Shuts Down About Half Its Oil Output After Drone Strikes

(14.09.2019)

Yemen’s Iranian-aligned Houthi rebels claimed credit for the attack, saying they sent 10 drones to strike at important facilities in Saudi Arabia’s oil-rich Eastern Province. The production shutdown amounts to a loss of about five million barrels a day, the people said,…

14.09.2019 - 21:04 [ Today.ng ]

Saudi, Russia call for better compliance with OPEC oil cuts

(12.09.2019)

Oil prices tumbled more than 2 per cent on Wednesday after a report that U.S. President Donald Trump was considering easing sanctions on Iran, which could boost global crude supply at a time of lingering worries about energy demand.

14.09.2019 - 20:55 [ Nayla Razzouk / Twitter ]

OPEC+ meeting starting soon here in Abu Dhabi. #OPEC SecGen Barkindo, Saudi, Russia, UAE, Venezuela holding pre-meeting now. #OOTT

(11.09.2019)

20.07.2019 - 18:24 [ Yahoo.com ]

Russia agrees with Saudi Arabia to extend OPEC+ oil output deal

(29.07.2019)

Putin, speaking after talks with Saudi Crown Prince Mohammed bin Salman, told a news conference the deal – which is due to expire on Sunday – would be extended in its current form and with the same volumes.

04.02.2019 - 10:58 [ Oilprice.com ]

Crude Realities of Venezuela’s Future

(1.2.2019) USA being the largest buyers of Venezuelan heavy crude tightening all screws around Maduro. Madura seems adamant and expecting some help from Russia or Iran to bail him out of the situation, but that seems unlikely under the current circumstances. PDVSA being the special purpose vehicle for Maduro seems running out of fuel very soon and will not be able to support Maduro very long. China is withholding business ties and ongoing Refinery project JVs with PDVSA in the situations . Under this circumstances , all roads for Maduro are coming to an end.

04.02.2019 - 10:53 [ New York Times ]

Oil Prices Hit 2019 Highs as Sanctions Against Venezuela, OPEC Cuts Bite

(4.2.2019) Russian Energy Minister Alexander Novak has said the country’s overall cuts from the October baseline would total 50,000 bpd in January. Russia has pledged to reduce oil output by 230,000 bpd from October.

04.02.2019 - 10:41 [ Oilprice.com ]

Russia: No OPEC+ Emergency Meeting Planned Over Venezuela’s Chaos

(24.1.2019) Asked today whether the political crisis in Venezuela could lead to higher oil prices, Russia’s Energy Minister Novak told news agency TASS that the oil market is very complex and it is difficult to forecast how it would react to the developments in Venezuela.

04.02.2019 - 10:32 [ @mnaEN / Twitter ]

#OPEC oil supply has fallen in January by the largest amount in two years, a Reuters survey found, as top exporter #SaudiArabia over-delivered on the group’s supply pact while #Iran, #Libya and #Venezuela registered involuntary declines.

(31.1.2019)

04.02.2019 - 10:23 [ Oilprice.com ]

Oil Soars After OPEC And Partners Reach Deal

(7.12.2018) As talks resumed on Friday, Iran continued to refuse to accept wording that it would ‘cut’ and insisted on ‘exemption’, remaining the only sticking point in the OPEC negotiations, while the deal broker, Russia’s Energy Minister Alexander Novak, flew in from Moscow for the non-OPEC part meeting, and sat down for separate talks with each of oil ministers of Iran and Saudi Arabia, Bijan Zangeneh and Khalid al-Falih, respectively.

04.02.2019 - 10:12 [ Forbes ]

High Five At OPEC: Russia And Saudi Arabia Agree To 1.2Mbd Production Cut

(7.12.2018) The countries gathered in Vienna are part of the so-called OPEC+ super-cartel, which includes ten non-OPEC members such as Russia and Kazakhstan. Together, they possess unprecedented influence over the world economy, controlling 55% of global oil supplies and 90% of proven reserves.

04.02.2019 - 10:10 [ theNational.ae ]

Russia and Saudi Arabia to extend Opec+ accord, Putin says

(2.12.2018) Russian President Vladimir Putin said on Saturday he had no concrete figures on possible oil output cuts as Russia and Saudi Arabia agreed to extend their accord to manage the oil market, known as Opec+, into 2019, following a meeting on the sidelines of the G20 summit between Mr Putin and Saudi Arabian Crown Prince Mohammed bin Salman.

04.02.2019 - 09:53 [ Sputniknews.com ]

Russia, Saudi Arabia Move to Control Global Oil Markets – Analyst

(17.6.2018) „This means that the concerted efforts of the OPEC oil cartel, which is regulated first and foremost by the Saudis, and the group of independent oil producing countries led by Russia proved their effectiveness in terms of coordinated actions on global markets. And if this global control mechanism is working, there’s no reason to alter it or get rid of it even as things have finally stabilized,“ the analyst said.

30.01.2019 - 03:03 [ Reuters ]

Oil stable as economic outlook weighs, Venezuela concerns support

“The (Venezuelan) export volumes will not be eliminated from the market, but rather rerouted to other countries,” said Paola Rodriguez-Masiu, an analyst at consultancy Rystad Energy.

With the United States dropping out as a customer for Venezuelan oil, she added that “China and India … will be able to pick up these oil volumes at great discounts”.