The United States said in call with Saudi Arabia that energy should be kept affordable for consumers, as the administration of President Joe Biden resumed the practice of his predecessor Donald Trump who contacted OPEC’s leaders before key meetings. U.S. Energy Secretary Jennifer Granholm said on Twitter she had a call with Saudi Energy Minister … More U.S. Energy Secretary Makes Phone Call To Saudi Arabia Ahead of OPEC+ Meet
Oil prince fell on Wednesday on concerns about the market’s recovery after OPEC and its allies lowered its 2021 demand growth forecast, although strong Chinese factory activities lent some support. Brent crude for May, which expires on Wednesday, fell 32 cents, or 0.5%, to $63.82 a barrel at 0948GMT. The more active Brent contract for … More Oil Falls On OPEC+ Concerns Over Slow Demand Recovery
Russian President Vladimir Putin has thanked Saudi Arabia’s King Salman for the ‘active and joint cooperation’ in OPEC+. Putin said Russia and Saudi Arabia are actively cooperating in the alliance of the world’s largest oil exporters to ensure the stability of global energy markets, Saudi Press Agency reported on Wednesday. Putin’s remarks were made during … More BREAKING NEWS | Putin Thanks Saudi King Salman Over Russia OPEC+ Role
Kuwait said on Thursday it would support any decision made by OPEC and its allies on future oil supply policy. ‘Kuwait fully supports the joint OPEC+ efforts to restore balance to the oil market, and going forward we will also support whatever necessary joint decision will be agreed to under the OPEC+ framework’, Kuwaiti Oil … More BUSINESS | Kuwait Says To Support Any OPEC+ Supply Decision
NEW YORK – Oil slipped further below $45 a barrel on Friday, giving up this week’s gains, under pressure from doubts about demand recovery due to the novel coronavirus pandemic rising supply. Two prominent forecasters, the International Energy Agency and the Organization of the Petroleum Exporting Countries, trimmed their 2020 oil demand forecasts this week. … More BUSINESS | Oil Slips Below $45 On Demand Doubts, Rising Supply
RIYADH | SAUDI ARABIA – Saudi Crown Prince Mohammed Bin Salman, in a phone call with Nigerian president Muhammadu Buhari, reviewed the current progress made on the OPEC+ deal, state news agency (SPA) said on Monday. Salman and Buhari also reviewed aspects of cooperation to enhance stability of oil markets, SPA added.