Members of the OPEC coalition of oil producers meet tomorrow in Vienna to discuss an excess of oil supply. The group will be joined by Russia on Friday for further talks. That combined group, known as OPEC-Plus, previously agreed to reduce production in order to keep prices up. Now, there’s too much oil with nowhere […]

A look at what a drone strike on oil reserves in Saudi Arabia could mean for consumers.

Russia has leveraged its oil and gas market power to enhance its influence in the Middle East, just as the U.S. is pulling back from the region.

When OPEC decides to restrict global oil supply and raise prices, it can become very tempting for some nations, particularly smaller producers, to break the pact and sell more oil. OPEC members and allies are currently meeting in Azerbaijan, and the monitoring committee has been reviewing the “percentage of conformity” for each nation. Essentially, it […]

An estimated 5 million Venezuelans have left the country due to high poverty rates.

The real action at the oil meeting in Vienna might be in a stairwell.

The price of oil is at its lowest in almost a year. Now officials from Saudi Arabia are suggesting they might cut supply to arrest the falling price. President Donald Trump on Monday said he hopes Saudi Arabia and OPEC don’t do that. It’s all a bit of a test for Saudi Arabia and its […]