NOPEC Bill Won't Bring Oil Prices Down
The Biden Administration’s efforts to keep OPEC+ from cutting production once again have failed, and despite the anger in Washington, a NOPEC bill might not be productive for the U.S.
Source: oilprice.com
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U.S. Looks To Punish Saudi Arabia For Large OPEC+ Cut
OPEC+’s decision to cut production shouldn’t have surprised the U.S., but it didn’t, and while the short term impact on prices may be limited, the longer term impact on geopolitical relations will be much larger
Source: oilprice.com
Global Recession Fears Push Oil Prices Lower
The bullish news of the OPEC+ output cut is wearing off, and the market is once again focusing on the possibility of a global recession
Source: oilprice.com
Oil Prices Slide As OPEC+ Bump Wears Off
Oil prices slipped further on Tuesday as the market reassessed the OPEC+ production quota cut
Source: oilprice.com
U.S. Officials Promised Saudis It Wouldn't Let Oil Market Collapse
U.S. officials told Saudi Arabia prior to the OPEC+ meeting that it would help stave off a collapse in the oil market by buying oil at $75 per barrel to replenish the nation’s Strategic Petroleum Reserves
Source: oilprice.com