Political News & Social Views

Tag: OPEC

OPEC’s Nod to Biden Will Help Saudis, Not Oil Users

The group is almost certainly going to fall behind its stepped-up target in the months ahead. Even after taking Russia out of the equation, OPEC+ as a group was producing 1.32 million barrels a day below its collective target in April, according to IEA data.

Saudi Arabia Signals Backing for Russia in OPEC+

Saudi energy minister Prince Abdulaziz bin Salman told the Financial Times in an interview published on May 22 that he sees Russia as an integral part of the OPEC+ group of oil producers, adding that politics should be kept out of the alliance.

Saudi crown prince plays the oil card in quest for U.S. recognition

Saudi Arabia’s crown prince says he simply doesn’t care whether Joe Biden misunderstands him.

The prince is instead looking to his oil power to deliver his goals, according to sources familiar with Riyadh’s thinking: recognition from the American president that he’s the real ruler of the kingdom and a stronger hand in the costly Yemen war.