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OPEC and Russia will ponder oil output under pressure from Biden

OPEC and Russia will ponder oil output under pressure from Biden

Big oil producers decided to stick with a scheduled increase, rejecting calls for a bigger jump in production.
OPEC and allies hold the cards as prices and demand rise
www.nytimes.com

OPEC and allies hold the cards as prices and demand rise

In the short run, trends in the oil market may be favoring large producers like Saudi Arabia and Russia.
Saudi Arabia will cut its oil production, allowing Russia's to grow
www.nytimes.com

Saudi Arabia will cut its oil production, allowing Russia's to grow

Oil prices rose to levels not seen since February. The two major oil producers had been moving in lock step since an April agreement to cut output.
Saudi Arabia and Kuwait settle dispute over oil fields
www.nytimes.com

Saudi Arabia and Kuwait settle dispute over oil fields

The agreement over a shared region could bring more oil to the global market and benefit Chevron.
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