OPEC+ meeting to test Biden’s Saudi oil entreaty

OPEC+ meeting to test Biden’s Saudi oil entreaty

This post was originally published on this site The OPEC+ group of major oil exporters meets Wednesday to discuss its output strategy after US President Joe Biden lobbied Saudi Arabia to boost production to tame energy-fueled inflation. The cartel led by Saudi Arabia and Russia has resisted US pressure to...

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America’s Oil Reserve Weapon Risks Misfiring

America’s Oil Reserve Weapon Risks Misfiring

This post was originally published on this siteWashington isn’t the only player in this drama. Watch how OPEC+ nations react to the move.

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With $ 110 worth of oil, stock futures are rising in Powell ahead of OPEC

With $ 110 worth of oil, stock futures are rising in Powell ahead of OPEC

This post was originally published on this site U.S. stock futures plummeted as oil prices soared as Russia hit Ukrainian cities and investors waited for a meeting with Federal Reserve Chairman Jerome Powell and the Organization of the Petroleum Exporting Countries and his allies. S&P 500 futures rose 0.1% on...

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Oil has jumped as traders feared a disruption in Russia’s energy industry

Oil has jumped as traders feared a disruption in Russia’s energy industry

This post was originally published on this site An oil-pumping jacket, also known as a “gesturing donkey,” on an oil field near Dyurtyuli in the Republic of Bashkortostan, Russia, on Thursday, November 19, 2020. Andrey Rudakov | Bloomberg | Getty Images Oil prices rose in early Monday after US and...

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