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Saudi Arabia Extends Oil Production Cuts, Further Irking US Officials 

[Aug 3, 2023 11:30 AM] Saudi Arabia announced it will continue limiting oil production through September, extending output reductions that have drawn criticism from Washington. Riyadh Holds Firm on Oil Output Limits Saudi Arabia said Thursday it will keep oil production…

Economists Expect the Fed to Reveal Another 25bps Rate Hike Before Pausing for the Rest of 2023

[Apr 10, 2023 8:00 AM] After the March rate hike by the Federal Reserve, economists believe that the recent move by Saudi Arabia and several members of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production could complicate the central…

Saudi Arabia Strengthens Bond With China by Joining SCO Bloc as Dialogue Partner

[Apr 8, 2023 11:30 AM] China’s relationship with Saudi Arabia is growing as the country’s Cabinet has agreed to join the Shanghai Cooperation Organization (SCO). The diplomatic move made by the kingdom began with a memorandum of understanding in September…

Yellen Says US ‘Not Willing to Allow Contagious Bank Runs,’ Calls OPEC Oil Production Cut ‘Unconstructive’

[Apr 5, 2023 5:30 PM] Roughly 26 days ago and in the following days, the U.S. witnessed two significant bank failures when Silicon Valley Bank and Signature Bank collapsed. After speaking at an event on Monday at Yale University, Janet Yellen, the current U.S. Treasury…

US-Saudi Tensions Escalate as Report Says Crown Prince Is No Longer Interested in Pleasing the United States 

[Apr 4, 2023 1:30 PM] After Saudi Arabia and members of the Organization of the Petroleum Exporting Countries (OPEC) surprised the world by announcing cuts to oil production, a spokesperson for U.S. president Biden’s National Security Council stated that reducing…

Saudi Arabia and OPEC Reveal Surprise Oil Production Cut; White House Insists Cuts Aren’t Advisable Right Now

[Apr 2, 2023 5:30 PM] On Sunday, Saudi Arabia and several major oil producers announced their plan to cut oil production by 1.15 million barrels per day, starting in May and continuing until the end of 2023. According to the Saudi Energy Ministry, the move was…