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The Latest Breaking News from OPEC

Saudis angrily say US oil accusations are political, unfounded

BEIRUT — The spat between the United States and Saudi Arabia and its fellow OPEC members over the management of petroleum supplies intensified Thursday when Riyadh accused Washington of “politicizing oil” and declared it would not submit to “dictates” from supposedly friendly countries.

Los Angeles Times

US and Saudi Arabia clash in public over oil cut, Russia

Washington (AFP) - The United States and Saudi Arabia traded bitter barbs Thursday over last week's OPEC+ oil output cut, with Washington accusing Riyadh of knowingly boosting Russian interests.

AFP

G20 meets amid Ukraine war, US-Saudi tensions

Washington (AFP) - The G20 held talks in Washington on Thursday, but Russia's presence in the club made any consensus unlikely despite the multiple crises facing the world.

AFP

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These 2 Small Energy Stocks Sport 10% Yields — And Maybe More — As OPEC+ Slashes Oil Quotas

With the Energy Select Sector SPDR Fund (ARCA: XLE) up roughly 45% year-to-date, shopping for energy stocks may prove to be more difficult when searching for more upside.

Benzinga

US and S. Arabia clash in public over oil cut, Russia

Washington (AFP) - The United States and Saudi Arabia traded bitter barbs Thursday over last week's OPEC+ oil output cut, with Washington accusing Riyadh of knowingly boosting Russian interests.

AFP

Gap between petrol and diesel prices reaches record 20p following OPEC+ announcement

Diesel drivers are expected to be hit hard by reduced oil supplies.

Daily Record

Biden vs the Kingdom: Is this the end of the US-Saudi relationship?

The US-Saudi relationship endured a crippling oil embargo and the 9/11 attacks. Has the relationship run its course? Richard Hall investigates

The Independent UK

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Saudi Arabia has screwed over the US – and the world – yet again. Enough is enough

By gouging global oil prices, Saudi Arabia has humiliated Biden and boosted Putin. The US must end this unofficial alliance

The Guardian - US

Biden global strategy tackles China, Russia, domestic needs

The White House has laid out a national security strategy aimed at checking an ascendant China and a more assertive Russia

The Independent UK

Let Saudi Arabia’s friendship with Putin be a wake-up call for the west

Prince Mohammed bin Salman can no longer be allowed privileged access to, and support from, western leaders, says the foreign affairs commentator Simon Tisdall

The Guardian - UK

Oil Output Cut May Tip Global Economy Into Recession, Elon Musk's Starship's First Space Tourist, Alphabet Approves Distribution Of Trump's Truth Social App: Top Stories Thursday, Oct. 13

Reuters

Benzinga

US-Saudi rift grows over decision to cut oil production

Washington has accused Saudi Arabia of coercing other Opec+ members into 2m-barrel-a-day reduction

The Guardian - UK

Middle East round-up: The backlash against OPEC+

Here’s a round-up of Al Jazeera’s Middle East coverage this week.

Al Jazeera

GCC Hails Saudi Role in Preserving World Economy, Stabilizing Oil Markets

The Secretary-General of the Gulf Cooperation Council, Nayef Al-Hajraf, on Thursday praised Saudi Arabia's role in protecting the global economy and the stability of energy markets, and affirmed total rejection of the statements issued against the Kingdom following the decision of the OPEC+ group. Hajraf expressed solidarity with Saudi Arabia,…

Asharq Al-Awsat

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WEKU

The White House accuses Saudi Arabia of aiding Russia and coercing OPEC oil producers

A major oil output cut by Saudi Arabia, Russia and other oil producers has drawn sharp accusations in Washington.

Bangkok Post

Oil output cuts 'raise recession risk'

LONDON: A decision by the Opec+ oil producers’ group last week to cut output has driven up prices and could push the global economy into recession, the International Energy Agency warned on Thursday.

The Guardian - UK

Why is the US so angry with Saudi Arabia about oil supply cuts?

Joe Biden has threatened ‘consequences’ after Opec+ decided to reduce output in a decision that will benefit Russia

Asharq Al-Awsat

Saudi Arabia Rejects Dictates, Attempts for Altering Kingdom’s Global Economy Protection Goals

Saudi Arabia, on Thursday, voiced total rejection of the statements issued towards the Kingdom following the OPEC+ decision to cut oil production. An official at the Foreign Ministry stated that the Saudi government has viewed the statements issued about the Kingdom following the OPEC+ decision announced on October 5, 2022.…

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The Independent UK

Saudis say US sought 1 month delay of OPEC+ production cuts

Saudi Arabia says that the U.S. had urged the kingdom to postpone a decision by OPEC and its allies — including Russia — to cut oil production

The Guardian - UK

Thursday briefing: Has Saudi Arabia picked Putin over Biden?

In today’s newsletter: After a summer spent persuading Saudi Arabia to lower costs, the world’s largest oil producer is doing the opposite – now the US president promises ‘consequences’

The Guardian - US

America’s love for cars continues – will gas prices decide the midterms?

Economy in focus: The US loves its cars – but soaring prices are a big issue. In the midwest, Adam Gabbatt asks voters what they think

AFP

Asian markets drop as traders brace for key US inflation data

Hong Kong (AFP) - Equities fell in Asia and the dollar maintained its strength Thursday ahead of the release of US inflation data that could determine the pace of Federal Reserve interest rate hikes.

WEKU

Gloom oozes from energy forecasts that show oil demand dropping, heating bills rising

The weakening economy around the world will drive down demand for oil in the coming months, according to OPEC, while the U.S. government warns that households will pay more for heat this winter.

StockNews.com

3 Oil and Gas Stocks to Watch for Gains in October

OPEC+ has announced a deep output cut from November, which should bolster prices. Moreover, analysts expect oil prices could reach the $125 mark in the near term amid supply cuts. Given this backdrop, we think investing in sound oil and gas stocks Marathon Petroleum (MPC), Valero Energy (VLO), and PBF…

The Guardian - UK

Democrats issue fresh ultimatum to Saudi Arabia over oil production

Members of Congress raise prospect of one-year arms sales ban unless kingdom reverses Opec+ decision to cut output

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