Organization of the Petroleum Exporting Countries – Page 11

Oil Prices Rise as the West Imposes a Cap on Russian Crude

Energy traders pushed crude prices higher on Monday following Europe’s embargo of seaborne Russian crude and a price cap by Group of 7 nations went into effect.

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Amid Churning Oil Market, OPEC and Russia Leave Production Unchanged

The group, OPEC Plus, reaffirmed an output cut in October as “the right course of action” but outlined no further changes before an E.U. embargo of Russian oil begins on Monday.

By Stanley Reed

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OPEC and Russia to Meet as Global Forces Weigh on Oil Market

As the West moves to intercede in oil trading, OPEC Plus, led by Saudi Arabia, is expected to protect its own interests.

By Stanley Reed

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Oil Prices Slide as Investors Worry Energy Demand Is Slowing

The U.S. benchmark oil price fell below $80 a barrel on Friday, and gasoline prices in some states are now close to $3 a gallon.

By Clifford Krauss