Tag: Organization of the Petroleum Exporting Countries

Oil Prices Rise as the West Imposes a Cap on Russian Crude

Energy traders pushed crude prices higher on Monday following Europe’s embargo of seaborne Russian crude and a price cap by Group of 7 nations went into effect.

OPEC and Russia to Meet as Global Forces Weigh on Oil Market

As the West moves to intercede in oil trading, OPEC Plus, led by Saudi Arabia, is expected to protect its own interests.

U.S., Allies Vow to Protect Ukraine’s Infrastructure From Russian Attacks

Top diplomats from the Group of 7 nations discussed sending more air defense equipment to Ukraine and agreed to coordinate on rebuilding its infrastructure.

A Secret, Failed Oil Deal: How the U.S.-Saudi Relationship Ruptured

Ahead of President Biden’s trip to Saudi Arabia this summer, his administration thought it had secured pledges of increases in oil production throughout the year. The opposite happened.