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The Latest Breaking News from OPEC

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.

WEKU

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.

Bangkok Post

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

The Guardian - UK

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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.…

Asharq Al-Awsat

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 Independent 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 - UK

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

The Guardian - US

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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.

WEKU

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…

StockNews.com

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

The Guardian - UK

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

Saudi Arabia is choosing friends on its own terms and Biden is not one of them

Reactions in Washington to slashing oil supply have not concerned Mohammed bin Salman; nor have the optics of indirectly boosting Putin’s war

The Guardian - UK

Oil Falls as Strong Dollar and Recession Fears Weigh

Oil futures fell on Wednesday as a gloomy economic outlook and a strong dollar outweighed supply concerns stemming from last week's OPEC+ cut to its production target. Brent crude futures were down $1.42, or 1.5 %, at $92.87 a barrel by 1315 GMT. US West Texas Intermediate crude was down…

Asharq Al-Awsat

MBS accused of "election interference"

Saudi Arabia is slashing oil production before midterms in what some are calling a "hostile act" against Democrats

Salon

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The Independent UK

Joe Biden warns of ‘consequences’ for Opec as it sides with Russia even as Saudi Arabia attempts de-escalation

Saudi foreign minister says move was ‘purely economic’

Bangkok Post

Biden vows 'consequences' for Saudi Arabia after oil production cuts

United States President Joe Biden promised "consequences" for Saudi Arabia, after a Riyadh-led coalition of oil-producing nations sided with Russia to slash output.

Al Jazeera

Biden vows ‘consequences’ for Saudi Arabia after oil output cuts

US president suggests he will soon take action as aides announce the White House is re-evaluating ties with kingdom.

Asharq Al-Awsat

Saudi FM Reiterates OPEC+ Decision is Not Political

Saudi Foreign Minister Prince Faisal bin Farhan has said that the OPEC+ decision to cut production is purely economic and was taken unanimously by the member states. The Foreign Minister said "OPEC+ members acted responsibly and took the appropriate decision," stressing that it is not a political move. During an…

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The Independent UK

AP News Digest 3 am

Here are the AP’s latest coverage plans, top stories and promotable content. All times EDT. For up-to-the minute information on AP’s coverage, visit Coverage Plan at https://newsroom.ap.org.

Tribune News Service

Biden says Saudi Arabia will face ‘consequences’ for OPEC cut

WASHINGTON — President Joe Biden said there would be “consequences” for Saudi Arabia over the decision by OPEC+ to slash production, a move the administration says will benefit Russia by propping up oil prices.

France 24

Biden says Saudi Arabia will face 'consequences' for OPEC+ oil production cut

President Joe Biden said Tuesday there will be "consequences” for Saudi Arabia as the Riyadh-led OPEC+ alliance moves to cut oil production and Democratic lawmakers call for a freeze on cooperation with the Saudis.

Tribune News Service

News briefs

Outraged Biden team vows consequences for Saudis over OPEC+ cut

WEKU

Biden is rethinking the U.S. relationship with Saudi Arabia after OPEC cuts

After the cartel said it would cut oil production by 2 million barrels per day starting next month, the White House said it's time to look at the longstanding partnership with Saudi Arabia.

Tribune News Service

Outraged Biden team vows consequences for Saudis over OPEC+ cut

WASHINGTON — Top aides to President Joe Biden voiced their fury with Saudi Arabia over OPEC+ oil production cuts Tuesday, saying the administration was undertaking a sweeping reevaluation of its relationship and planned to engage with lawmakers clamoring to punish the kingdom.

Al Jazeera

Biden ‘reviewing’ ties with Saudi Arabia amid anger over oil cuts

Riyadh says oil production curbs are ‘purely economic’ as critics in Washington accuse it of empowering Moscow.

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