Brazil has officially joined OPEC+, the coalition of major oil-exporting nations, marking a significant shift in its energy policy just months before hosting the United Nations' annual climate summit.
President Donald Trump has called on Saudi Arabia and the Organization of the Petroleum Exporting Countries (OPEC) to reduce global oil prices, asserting that such a move could expedite the conclusion of the Russia-Ukraine conflict.
Incoming officials in President-elect Donald Trump’s administration are reportedly crafting a sanctions strategy aimed at expediting a resolution to the Russia-Ukraine conflict. According to Bloomberg, the plan includes options to pressure Moscow while managing global oil market stability amid existing sanctions on major producers like Russia, Iran, and Venezuela.
While services inflation began to moderate and rent prices rose at a slower pace, "inflation still remains too hot for the Fed's liking," according to senior economist at Wells Fargo in Charlotte, North Carolina Sarah House.
Climate activists reacted with equal measures of anger and despair Sunday at the news oil giant Saudi Aramco achieved record profits totalling $161.1 billion last year.
On Friday, Chinese leader Xi Jinping met Saudi Arabian leaders in that country, expressing his interest in using yuan to buy Persian Gulf generated gas and oil.
The Biden administration has said that Saudi Prince Mohammed bin Salman should be granted sovereign immunity in a case involving the murder of journalist Jamal Khashoggi.
