President Donald Trump says Saudi Arabia's king "might not be there for two weeks" without U.S. military support, further increasing his pressure on one of America's closest Mideast allies over rising oil prices.
OPEC and other oil nations meeting on Thursday, May 25, 2017, appeared set to extend their production cuts in an effort to shore up prices. But the intended impact could be short-lived.
Iraq and Algeria support the extension of oil production cuts by OPEC and non-OPEC producers through the end of the year to try to boost prices, they said in a joint statement on Thur. May 11, 2017.
Iraq's oil minister said on Sunday, April 2, 2017 that his country plans to increase daily crude oil production to 5 million barrels by the end of this year.
Signs of the Canadian oil and gas industry's recovery from a punishing two-year downturn are emerging in unlikely places, including fine grains of sand.
Russia's energy minister says there's "94 per cent" compliance on a six-month oil production cut among OPEC members and non-cartel nations, and discussions on extending the cuts to boost crude prices.