The ongoing Red Sea crisis can potentially revive Russia-Saudi oil tensions, according to a Reuters analysis
OPEC on Wednesday cut its 2022 forecast for growth in world oil demand for a fourth time since April and also trimmed next year's figure, citing slowing economies, the resurgence of China's COVID-19 containment measures and high inflation.
US President Donald Trump accuses the Organization of Petroleum Exporting Countries of driving up oil prices, in a fresh swipe at the cartel's agreement to cap production.
Saudi Arabia, Russia, Qatar and Venezuela have agreed to freeze their oil output at January levels if other producers follow suit.
The ongoing Red Sea crisis can potentially revive Russia-Saudi oil tensions, according to a Reuters analysis
OPEC on Wednesday cut its 2022 forecast for growth in world oil demand for a fourth time since April and also trimmed next year's figure, citing slowing economies, the resurgence of China's COVID-19 containment measures and high inflation.
US President Donald Trump accuses the Organization of Petroleum Exporting Countries of driving up oil prices, in a fresh swipe at the cartel's agreement to cap production.
Saudi Arabia, Russia, Qatar and Venezuela have agreed to freeze their oil output at January levels if other producers follow suit.