Some lawmakers are likely to oppose the move, but officials said the Biden administration has noted the kingdom’s de facto cease-fire with the Houthi militia in Yemen.
Category: Saudi Arabia
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Angola to Quit OPEC in Dispute Over Oil Production Levels
Officials have been unhappy after the oil cartel, led by Saudi Arabia, pushed Angola and other countries to accept lower production ceilings.
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What’s Missing from the COP28 Climate Deal
The agreement calls for phasing out fossil fuels. But it also lets oil producers keep drilling and gives few specifics on how to fund a shift to greener energy.
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Oil Producers Fail to Agree on More Production Cuts
Oil prices fell after OPEC Plus’s year-end gathering failed to produce substantial cuts in output. But the group said Brazil, an oil giant, was expected to join.
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In a Shaky Oil Market, OPEC Has Bitter Decisions to Make
Anticipating a drop in demand for 2024, major producers, led by Saudi Arabia, are trying to reduce supply.
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Saudi Arabia Wins Bid to Host World Expo 2030
Winning the rights to host the major global event is a coup for Crown Prince Mohammed bin Salman’s efforts to remake the kingdom’s international image.
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Israel-Hamas War Adds to Surge in Global Weapons Sales
Israel’s conflict with Hamas, Russia’s invasion of Ukraine and the rise of China have brought a boom for weapons makers and a chance for Washington to build closer military ties to other countries.
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CEOs Weigh Dropping Out of ‘Davos in the Desert’
The Future Investment Initiative kicks off in Riyadh next week, with questions swirling over who will attend and who will drop out of the event.
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China’s Economic Stake in the Middle East: Its Thirst for Oil
China is the largest oil importer by far from Saudi Arabia and from Iran, highlighting the risk it faces if the war in Israel and Gaza were to broaden.
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Oil Prices on a March Toward $100 a Barrel
Analysts have raised their forecasts for oil prices, as they try to understand Saudi Arabia’s intentions with recent production cuts.