The decision strikes a new blow to the souring relationship between the U.S. and Saudi Arabia, the latter of which has moved closer to Russia and China.
The U.S., which had already condemned the OPEC+ decision last year to cut production of 2 million bpd last November, has strongly opposed further cuts to the OPEC+ oil production, calling the rise in prices expected to follow inadvisable.
A view of Saudi Aramco's Abqaiq oil processing plant on September 20, 2019. The United States and Saudi Arabia appear to be once again on a collision course after the Middle Eastern country and other members of the OPEC+ group announced surprising cuts to its oil supply on Sunday, in a move that aims to boost oil prices amid fears of weakened demand.
Last year, after Saudi Arabia decided to cut production against calls from the U.S. to pump more oil into the market in a bid to fight rampant inflation, the White House accused the country of siding with Russia, which invaded Ukraine last February, and trying to trigger an energy crisis in Europe,As analysts expected, the news that Saudi Arabia and the other OPEC+ oil producers will slash output has caused an immediate jump in prices. On Monday, Brent oil futures jumped $4.30 to $84.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Saudi Arabia to invite Syria's Assad to Arab leaders summit, sources saySaudi Arabia is planning to invite Syrian President Bashar al-Assad to an Arab League summit that Riyadh is hosting in May, three sources familiar with the plans said, a move that would formally end Syria's regional isolation.
Weiterlesen »
Saudi Arabia, OPEC+ producers announce voluntary oil output cutsThe Saudi energy minister said it was a precautionary measure to support the stability of the oil market.
Weiterlesen »
Saudi Arabia to invite Syria's Assad to Arab leaders summit, ending regional isolationSaudi Arabia is planning to invite Syrian President Bashar al-Assad to an Arab League summit that Riyadh is hosting in May, three sources familiar with the plans said, a move that would formally end Syria's regional isolation.
Weiterlesen »
Egypt's Sisi heads to Saudi Arabia amid financial pressure, regional realignmentEgyptian President Abdel Fattah al-Sisi is travelling to Saudi Arabia on Sunday, according to three diplomatic sources, as Cairo continues to seek financial inflows to ease pressure on its currency and bolster a faltering economy.
Weiterlesen »
Oil prices could rise worldwide as Saudi Arabia announces cut of 500,000 barrels dailyHigher oil prices would help fill Russian President Vladimir Putin’s coffers as his country wages war on Ukraine and force Americans and others to pay even higher prices at the pump amid infl…
Weiterlesen »