Share This US blames Iran for Saudi strike; big hit for oil prices U.S. tried to build its case Monday that Iran was behind the fiery weekend attack on key Saudi Arabian oil facilities that raised new war worries and sent energy prices spiraling worldwide. Iran denied responsibility, while President Donald Trump said the United […]
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Houthi drones attacked Saudi biggest oil fields, sources say oil supply suspended:
Relations September 14, 2020 0 COMMENTSShare This RIYADH/DUBAI/LONDON (Reuters) – Yemen’s Iran-aligned Houthi group on Saturday attacked two plants at the heart of Saudi Arabia’s oil industry, including the world’s biggest petroleum processing facility, in a strike that three sources said had disrupted output and exports. Two sources close to the matter said 5 million barrels per day of crude […]
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OPEC and allies decided to increase oil supply cuts, prop up prices
Relations July 2, 2020 0 COMMENTSShare This OPEC and its allies led by Russia are set to extend oil output cuts until March 2020 on Tuesday to try to prop up the price of crude as the global economy weakens and U.S. production soars. The alliance, known as OPEC+, has been reducing oil supply since 2017 to prevent prices from […]
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Venezuela reports decrease in oil supply, will tighten global market: OPEC
Editor Express Daily April 10, 2020 0 COMMENTSShare This LONDON (Express Daily) – Venezuela told OPEC that the country’s oil output sank to a new long-term low last month due to U.S. sanctions and blackouts, deepening the impact of a global production curb and further tightening supplies. Supply cuts by OPEC and partners led by Russia, plus involuntary curbs in Venezuela and […]
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