Last month, following a collapse in the price of Brent crude to a four-year low, Saudi Arabia and its OPEC-plus partners announced their second consecutive monthly supply hike.

Saudi Arabia, the de facto leader of OPEC+, has issued a stern warning to members who are exceeding their production quotas, according to sources familiar with the matter. The kingdom has ...

OPEC+ will accelerate oil output hikes and could bring back to the market as much as 2.2 million barrels per day by November, five OPEC+ sources said as the group's leader Saudi Arabia seeks to ...

President Donald Trump said Thursday that he would call on Saudi Arabia and OPEC to lower oil prices, claiming that the war in Ukraine would end if prices dropped. “I am also going to ask Saudi ...

“I am also going to ask Saudi Arabia and OPEC to bring down the cost of oil,” Trump said in a virtual appearance at the World Economic Forum annual meeting in Davos, Switzerland.

If nothing else, the 2022 cuts underscored a more bullish Saudi Arabia that is willing to prioritize its own bottom line above all, Feierstein, the former U.S. ambassador to Yemen, told the ...

OPEC and Saudi Arabia are losing their control over the world oil market. That's due to booming US supply, which has helped offset OPEC's drastic supply cuts.

He estimated that Saudi Arabia has capacity to ramp up its output by an additional 2.5 million barrels a day. For now, OPEC's de factor leader is trying to prop up crude by pumping less.

Saudi Arabia is asking others in the OPEC+ coalition to reduce their oil-output quotas in a bid to shore up global markets but some members are resisting, delegates said. The OPEC+ leader has been ...

Saudi Arabia said it would cut output in July by 10% or 1 million barrels per day (bpd) to 9 million bpd and may extend cuts further if needed. Meanwhile, OPEC+ agreed to extend cuts into 2024 but ...

In a surprising move, Saudi Arabia pledged to reduce its oil output by 1 million barrels per day for July at the June 4 OPEC meeting. This adjustment, which may continue monthly, places Saudi oil ...

Saudi Arabia, the dominant producer in the OPEC oil cartel, was one of several members that agreed on a surprise cut of 1.6 million barrels per day in April. The kingdom's share was 500,000.