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ISRAEL AT WAR - DAY 570

OPEC - Organization of the Petroleum Exporting Countries

A photographer takes pictures of the Khurais oil field during a tour for journalists, 150 km east-northeast of Riyadh, Saudi Arabia, June 28, 2021. (AP/Amr Nabil)
June 5, 2023, 5:15 am
Saudi Arabia to sharply slash oil output in bid to pump up prices
In surprise move, OPEC+ decides to cut supply from Riyadh by a million barrels per day in hopes of sending gas prices soaring again after 10% drop since April
By KIYOKO METZLER
UAE Energy Minister Suhail al-Mazrouei attends the Abu Dhabi International Petroleum Exhibition & Conference in Abu Dhabi, United Arab Emirates, Oct. 31, 2022 (AP Photo/Kamran Jebreili)
October 31, 2022, 10:53 am
Saudi Arabia, UAE defend oil production cuts as US warns of ‘economic uncertainty’
Conference highlights stark divide, as American politicians threaten arms deals with Riyadh and say kingdom is siding with Putin amid Ukraine invasion
By Jon Gambrell
US President Joe Biden speaks at the White House complex in Washington, October 11, 2022. (AP Photo/Susan Walsh)
October 12, 2022, 6:25 am
Biden vows ‘consequences’ for Saudi Arabia after OPEC+ cuts oil output
White House to reevaluate relationship with Saudis, lawmakers propose halting weapons sales, after kingdom announced production cut that will boost Russia
By AAMER MADHANI
Illustrative: A man stands under American and Saudi Arabian flags prior to a visit by US President Joe Biden, at a square in Jeddah, Saudi Arabia, Thursday, July 14, 2022. (AP Photo/Amr Nabil, File)
October 11, 2022, 7:19 pm
Biden to ‘reevaluate’ Saudi ties after OPEC decision to cut oil production
Spokesman says US president has ‘been very clear’ about willingness to revisit relations with Riyadh, amid fears that oil cartel’s move could send prices soaring ahead of midterms
By AFP
Sen. Robert Menendez, D-NJ, speaks during a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act on Capitol Hill, September 28, 2021, in Washington. (Kevin Dietsch/Pool via AP)
October 11, 2022, 6:57 am
Top Democrat urges halt to Saudi weapons sales after decision to cut oil production
Sen. Bob Menendez says Riyadh ‘underwriting’ Russia’s war in Ukraine after Saudis and other oil producers took decision aimed at boosting crude prices
By AFP
Two British citizens Aiden Aslin, left, and Shaun Pinner, right, and Moroccan Saaudun Brahim, center, sit behind bars in a courtroom in Donetsk, in the territory which is under the Government of the Donetsk People's Republic control, eastern Ukraine, Thursday, June 9, 2022. (AP Photo)
September 22, 2022, 1:53 am
10 POWs, including 2 Americans, released from Russia in exchange with Ukraine
Five Britons also transferred to Saudi Arabia in deal brokered by Crown Prince Mohammed bin Salman
By Robbie COREY-BOULET
Mohammad Barkindo, Secretary-General of OPEC, is shown during a panel discussion at CERAWeek by IHS Markit at Hilton Americas,1600 Lamar St., on March 7, 2017, in Houston (Melissa Phillip/Houston Chronicle via AP, File)
July 6, 2022, 12:02 pm
OPEC chief Mohammad Barkindo dies aged 63, Nigerian officials announce
No immediate comment from Vienna-based oil cartel; his legacy may be most tied to OPEC entering into an agreement with Russia
By Chinedu Asadu and Aya Batrawy
In this photo released by the Saudi Royal Palace, Saudi Crown Prince Mohammed bin Salman, speaks during the Gulf Cooperation Council (GCC) Summit in Riyadh, Saudi Arabia, December 14, 2021. (Bandar Aljaloud/Saudi Royal Palace via AP)
June 3, 2022, 11:30 pm
OPEC+ agrees to major oil output boost as energy crunch bites
Cartel decides to add 648,000 barrels per day to market in July, up from 432,000 in previous months, amid intense pressure fueled by invasion of Ukraine
By AFP and AP
A part of Pardis petrochemical complex facilities in Assalouyeh on the northern coast of the Persian Gulf, Iran, Sept. 4, 2018. (Iranian Presidency Office via AP)
April 5, 2022, 1:10 am
Iran says oil production back to pre-Trump maximum pressure sanctions levels
Output restored to pre-2018 level of 3.8 million barrels per day, official says, noting Raisi’s decision to invest $500 million to restore facilities and increase production
By AFP
Illustrative: The Iranian-flagged oil tanker Fortune docked at the El Palito refinery after arriving at Puerto Cabello in the northern state of Carabobo, Venezuela, on May 25, 2020. (AFP)
March 3, 2022, 6:41 pm
Amid global crunch, Iran says it will step up oil output once US sanctions lifted
With prices surging following Russia’s invasion of Ukraine, Tehran says it’s ready to reach maximum export capacity ‘within month to two as soon as green light from Vienna given’
By AFP
In this December 14, 1976, photo, Saudi Oil Minister Ahmed Zaki Yamani listens to newsmen's questions during a news conference at Doha, Qatar, after he arrived to attend OPEC meeting. (AP Photo, File)
February 23, 2021, 4:08 pm
Saudi Arabia’s long-serving oil minister Ahmed Zaki Yamani dies at 90
Mecca-born official survived the 1975 pro-Palestinian attack at OPEC headquarters in Vienna; one of the terrorists, Anis Naccache, died Monday from COVID-19
By Agencies
In this Sept. 25, 2000 file photo, two workers climb down from one of the tanks in an oil tank-farm in Jebel Ali, 25 miles south of Dubai in the United Arab Emirates. (AP/Kamran Jebreili, File)
April 27, 2020, 11:54 am
Mideast economies take massive hit with oil price crash
Crude-dependent countries scramble to compensate for losses from a key source of state revenue, with several already plagued by social unrest
By SAMYA KULLAB and Qassim Abdul-Zahra
The Centenario deep-water drilling platform stands off the coast of Veracruz, Mexico, in the Gulf of Mexico, November 22, 2013. (AP/Dario Lopez-Mills)
April 13, 2020, 2:35 am
OPEC, oil nations agree to nearly 10m. barrel cut amid pandemic, price war
Leading suppliers to drop global crude output by 10% to boost cratering demand as Saudi-Russia feud, coronavirus batter markets
By Jon Gambrell
The sun sets behind an idle pump jack near Karnes City, Texas, April 8, 2020 (AP Photo/Eric Gay)
April 11, 2020, 1:57 pm
Global pact to contain oil price crash takes shape
Rare cooperation by competing countries will see production cut by 10 million barrels a day in an attempt to boost prices and stabilize teetering world market
By Jon Gambrell
Illustrative: Iranian President Hassan Rouhani dedicates the final phase of a new oil refinery in the city of Bandar Abbas, Iran, February 18, 2019. (Official website photo)
May 19, 2019, 3:02 pm
Major oil producers meet to discuss output amid Iran tensions
OPEC members, as well as Russia and others, set to discuss how to stabilize market after reimposed US sanctions throw industry into uncertainty
By Omar Hasan
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