LIMA—The United States is reviewing various options regarding its relationship with Saudi Arabia after Riyadh and other OPEC+ nations agreed this week to large cuts in oil production, Secretary of State Antony Blinken said on Thursday. “As for the relationship [with Riyadh] going forward, we’re reviewing a number of response options. We’re consulting closely with…
US Reviewing ‘Response Options’ on Saudi Relations After OPEC+ Cuts, Blinken Says
Is Mohammed bin Salman, of All People, Rescuing America from Herself?
Commentary Wait a minute. I’m having whiplash. I thought the presumptive Saudi Arabian leader Mohammed bin Salman (aka MBS) was a ruthless tyrant who placed roughly half his family under investigation for treason and ordered—or at least encouraged—the murder of respected Washington Post columnist Jamal Khashoggi. Okay, Khashoggi wasn’t respected by everybody. He did other…
Biden’s Anti-Drilling Policies Have Cut Oil Supplies as Much as the OPEC+ Decision, Study Reveals
October 7, 2022
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anti-drilling policiesBusiness & Marketseconomic policieseconomyenergyinflationoil suppliesOPECPoliticsStrategic Petroleum ReserveUS
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President Joe Biden’s anti-drilling policies have cost the United States about the same rate of daily oil production that was recently slashed off world markets by members of the Organization of the Petroleum Exporting Countries (OPEC). “The United States would be producing between 2 and 3 million more barrels of oil a day and between…
Turns Out Biden’s Empowering of OPEC Was a Really Bad Idea
Commentary If the average price of a gallon of gas falls by a penny, White House Chief of Staff Ron Klain will take to Twitter and credit the Biden administration. In the last few months, due to lower demand and other factors, consumers have experienced a reprieve from historic highs. Press secretary Karine Jean-Pierre points…
Democrats Float an End to US Troop Protection for Gulf Nations After OPEC+ Production Cut
Some Democrats are floating the idea of removing U.S. troops from Saudi Arabia and the United Arab Emirates (UAE) over a recent decision by the Organization of Petroleum Exporting Countries plus Russia (OPEC+) to substantially slash oil production. Since President Joe Biden took office in January 2021, the cost of gasoline and other energy sources…
37 Dead, Including 22 Children, in Thailand Day Care Rampage; Manchin Calls on US to Boost Energy | NTD News Today
A former policeman killed dozens of people including more than 20 children in a knife and gun rampage at a daycare center in Thailand today. The United States responds to OPEC’s oil production cuts. One Democrat lawmaker is calling to boost the U.S. energy sector while the White House takes a different approach. A secret list…
European Union Agrees on Capping Russian Oil Prices
October 6, 2022
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Business & Marketseconomic policiesenergyEuropeEuropean UnioninflationOPECprice capsRussia-Ukraine WarsanctionsWorld
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The European Union (EU) has agreed on an eighth package of sanctions against Russia for its invasion of Ukraine, which includes an agreement to cap the prices of Russian oil. The package was proposed last week by European Commission President Ursula von der Leyen after Russian President Vladimir Putin threatened the use of nuclear weapons….
OPEC Slashes Output, Biden Releases More Oil—How Did We Get Here?
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, OPEC+, surprised global energy markets on Wednesday by agreeing to slash crude production by 2 million barrels per day (bpd). In response to fears of waning demand amid worries of a global recession, the cartel thought it was necessary to reduce production and help…
How Did the US Become OPEC-Dependent Once Again?
News Analysis The Organization of the Petroleum Exporting Countries (OPEC) and its allies, OPEC+, surprised global energy markets on Wednesday by agreeing to slash crude production by 2 million barrels per day (bpd). In response to fears of waning demand amid worries of a global recession, the cartel thought it was necessary to reduce production…
Saudi Arabia Surprises Markets by Holding Oil Prices Steady Despite OPEC+ Cuts
Just a day after OPEC+ roiled the White House with its decision to slash oil production by 2 million barrels per day, the cartel’s key decision-maker Saudi Arabia decided to hold crude prices steady for Asian markets and lower those for Europe, defying market expectations for increases. Saudi Arabia’s state-controlled Saudi Aramco left November prices…
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