Category Archives: Saudi Arabia

Putin makes painful climbdown as he sues for peace in oil war

In reversal, Russia assuming more cuts than Saudi Arabia Vladimir Putin’s deal with OPEC to cut oil output and boost prices three years ago was a triumph for the Russian leader, bolstering his clout on the global stage. But now he’s had to make stinging concessions after U.S. President Donald Trump stepped in to end a price war. Amid relief

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Trump is ready to impose heavy duties on oil imports

The United States is ready to impose heavy oil import duties if the situation with energy prices does not change. This was stated by US President Donald Trump, CNBC reports . According to Trump, the introduction of duties depends on whether OPEC and Russia can agree on such a reduction in production, which will change the situation in the oil market. “Yes, I

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Putin Says Russia Ready to Cooperate on Cutting Oil Production

The world’s biggest oil producers will discuss a record round of production cuts by video conference Monday. Russia is ready to cooperate with Saudi Arabia and the United States to cut oil production, President Vladimir Putin said Friday. Putin said Russia was willing to make agreements within the framework of the OPEC+ group and that “we are ready for cooperation

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