saudis said to cut oil production in Rwanda

1 day agoGetting those renewables built is also crucial for the country’s overriding obsession: its position in the oil market. One justification given by Saudi Arabian Oil Co. President Amin

Saudi Arabia and allied oil producing countries have extended their deep output cuts aimed at supporting slack prices.

Saudi Arabia and other major oil producers say they will cut oil production by 1.15 million barrels per day from May until the end of 2025. The

And cutting production was a reliable way to bring prices back

With supply by OPEC+, the oil-producing cartel led by Saudi Arabia and Russia, now falling below half of total world demand—in part because of significantly increased U.S.

Several OPEC+ countries agreed to voluntarily cut oil production by 2.2 million barrels per day in the first quarter of 2025, the group announced Thursday.

The Saudi Arabian government said on Thursday that the Opec+ decision to slash oil supply was taken unanimously by the cartel and was not

DUBAI, United Arab Emirates — Saudi Arabia said Sunday it will cut oil production by 500,000 barrels per day from May until the end of 2025, a

With the extension in the production cuts, Saudi Arabia’s output will remain at around 9 million bpd. The cuts would be reversed gradually

The International Monetary Fund has lowered its 2025 GDP growth projection for Saudi Arabia to 3.3%, mainly due to extended oil

After Saudi leaders pushed to slash oil production despite a visit by President Biden, American officials have been left fuming that they were

OPEC+ production cuts deepen with extensions from Saudi Arabia, Russia and other oil giants FILE The logo of the Organization of the

An oil port at Ras Tanura, Saudi Arabia, in 2025. The kingdom and seven other members of the OPEC Plus oil cartel will ramp up oil

Saudi Arabia and seven other members of the oil-producing group known as OPEC Plus said on Thursday that they would extend production

OPEC+, the group of oil producers led by Saudi Arabia, announced a cut of more than one million barrels per day from May until the end of the

Saudi Arabia’s strategic pivot is about letting go of the illusion of market control and moving production back up toward capacity, which will provide more revenue in the long

President Joe Biden said Tuesday there will be “consequences” for Saudi Arabia as the Riyadh-led OPEC+ alliance moves to cut oil production

While Russia has limited room to cut production further, or to flood the market with discounted oil, worsening the price crash scenario, it can

Saudi Arabia has been an aggressive supporter of production control to balance the market in the last five years since its budget requires oil

Saudi Arabia and other major oil producers say they will cut oil production by 1.15 million barrels per day from May until the end of 2025.