The rest of the OPEC+ oil producers agreed to extend earlier cuts in supply through the end of 2024.
In a surprise move, OPEC+ slashes oil production by 1.6 million barrels a day starting in May.
OPEC president talks to Al Jazeera about output cuts, price volatility, and the war in Ukraine and its effect on prices.
Refiners in India, the world’s third-biggest oil consumer and importer, have been gorging on discounted Russian oil.
Cartel wants to gauge impact of two measures aimed at hitting Russia’s oil revenues: price cap and EU boycott.
Turkey’s foreign minister slams US for ‘bullying’ Saudi Arabia after OPEC+ announced oil production cuts.
Analysts say shared interests will sustain ties despite Washington’s promise of ‘consequences’ over oil production cuts.
OPEC+ group has agreed to its deepest cuts to oil production since the coronavirus pandemic, and the US is not happy.
The US criticised the kingdom for insisting last week’s output cut was economically rather than politically motivated.
Essential Middle East dissects the motivations behind the latest oil production cut.
The world economy has entered into a time of ‘heightened uncertainty and rising challenges’, OPEC said.
The US is facing rising recession fears even as economic indicators point to mixed signals.
Kremlin says decision, which could cause petrol prices to rise, helps counteract US manipulation of oil markets
The United States has accused OPEC oil-producing nations of siding with Russia after a decision to cut oil output.
