Page 48 - Pec News Today

Genuine American interests in the Middle East require the United States to initiate a more realistic, pragmatic, and neutral policy toward the Iranian and Saudi archrivals. 

HOUSTON (Reuters) — Oil prices settled about 2% higher on Thursday, as low levels of diesel inventory ahead of winter triggered buying and reversed early losses on surprisingly high stocks

The back-and-forth has added to what has been a frosty period of relations for the 2 countries

New inflation data has pushed oil prices lower, putting them on course for a weekly loss despite tight supply and falling diesel inventories

The OPEC+ production cut was bad news for India, and now the country is looking to aggressively diversify its oil imports

For all its frustration about the OPEC+ cut, the Biden administration may not be willing to walk away from its larger vision for a U.S.-led Arab-Israeli bloc.

Worrying inflation data and a huge crude build have been partially offset by tight supply and a significant diesel draw, leaving analysts uncertain

Speaker of the Arab Parliament Adel Al-Asoomi on Friday vehemently rejected and denounced recent comments against Saudi Arabia following a decision by OPEC+ to cut production by two million barrels per day as of next month.

The United States presented Saudi Arabia with an analysis showing there was no market basis to lower oil production before the Opec+ decision to cut output,

Biden said in an interview with CNN on Tuesday that there would be “consequences” for the production cut, though he did not go into further detail as to what those might be.