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CATEGORY: oil production


Apr 06, 2023 05:50

Yellen Says US ‘Not Willing to Allow Contagious Bank Runs,’ Calls OPEC Oil Production Cut ‘Unconstructive’

Roughly 26 days ago and in the following days, the U.S. witnessed two significant bank failures when Silicon Valley Bank and Signature Bank collapsed. After speaking at an event on Monday at Yale University, Janet Yellen, the current U.S. Treasury secretary, told reporters that she was closely monitoring the banking industry. Yellen insisted that “matters [...]

The post Yellen Says US ‘Not Willing to Allow Contagious Bank Runs,’ Calls OPEC Oil Production Cut ‘Unconstructive’ appeared first on Crypto Breaking News.

Apr 04, 2023 10:35

US-Saudi Tensions Escalate as Report Says Crown Prince Is No Longer Interested in Pleasing the United States

After Saudi Arabia and members of the Organization of the Petroleum Exporting Countries (OPEC) surprised the world by announcing cuts to oil production, a spokesperson for U.S. president Biden’s National Security Council stated that reducing production is not advisable. According to a recent report, Saudi Arabia’s crown prince Mohammed bin Salman has told associates that [...]

The post US-Saudi Tensions Escalate as Report Says Crown Prince Is No Longer Interested in Pleasing the United States  appeared first on Crypto Breaking News.

Aug 03, 2023 10:30

Saudi Arabia Extends Oil Production Cuts, Further Irking US Officials

Saudi Arabia announced it will continue limiting oil production through September, extending output reductions that have drawn criticism from Washington. Riyadh Holds Firm on Oil Output Limits Saudi Arabia said Thursday it will keep oil production nearly one million barrels per day below its quota for another month, according to a statement from the Saudi [...]

The post Saudi Arabia Extends Oil Production Cuts, Further Irking US Officials  appeared first on Crypto Breaking News.

Apr 03, 2023 05:50

Saudi Arabia and OPEC Reveal Surprise Oil Production Cut; White House Insists Cuts Aren’t Advisable Right Now

On Sunday, Saudi Arabia and several major oil producers announced their plan to cut oil production by 1.15 million barrels per day, starting in May and continuing until the end of 2023. According to the Saudi Energy Ministry, the move was coordinated with some members of the Organization of the Petroleum Exporting Countries (OPEC) and [...]

The post Saudi Arabia and OPEC Reveal Surprise Oil Production Cut; White House Insists Cuts Aren’t Advisable Right Now appeared first on Crypto Breaking News.

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