3 chapters across the catalog
Saudi Arabia Oil Production, OPEC Plus Cuts
The Biden administration is facing criticism after Saudi Arabia and OPEC Plus decided to cut oil production by two million barrels per day. Democrats in the Senate are calling for a freeze on arms sales to the Saudis in retaliation. Analysts suggest the actual production cut may be closer to one million barrels, as many member nations were already under-producing their quotas.
OPEC Plus Production Cuts, Saudi Energy Minister Rebukes Reuters
The Saudi Energy Minister engaged in a heated exchange with reporters from CNBC and Reuters following OPEC Plus's decision to cut oil production. The Minister accused Reuters of using "phantom sources" and spreading fake news regarding price targeting. Western media outlets have characterized the production cut as an act of belligerence aligned with Vladimir Putin's interests.
President Trump detailed a deal with Mexico to resolve a deadlock in OPEC Plus negotiations. The United States agreed to cut an additional 250,000 barrels of oil production to help Mexico meet its quota, with the understanding that Mexico would compensate the U.S. at a later date.
