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OPEC Blocks Climate Change Fossoil Fuel Phase Out Deal at COP28

In a surprising turn of events at the 28th Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCCC),...

Venezuelan President Maduro Visits Saudi Arabia to Boost Ties

Venezuelan President Nicolas Maduro arrived in Saudi Arabia on Monday for a working visit aimed at strengthening political, diplomatic and energy ties with the...

Saudi Arabia slashes oil output by 1 million barrels per day

Saudi Arabia, the world’s largest oil exporter, announced on Sunday that it would voluntarily cut its oil production by 1 million barrels per day...

Oil prices surge after OPEC+ announces surprise production cut

Oil prices soared as much as 8% on Monday after OPEC+ announced it was slashing output by 1.16 million barrels per day. The voluntary...

Saudi Arabia warns of oil embargo if Western countries impose price cap

Saudi Arabia has issued a stern warning to Western countries that are considering imposing a cap on the price of crude oil supplied by...

New oil reality without OPEC+

Recently, we have witnessed the largest drop in oil prices due to the collapse of the deal between Russia and Saudi Arabia. It all...

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