Saudi Arabia's Foreign Minister told Russian Foreign Minister Sergei Lavrov that OPEC+ cooperation between the two countries allows them to balance oil supply and demand, adding that Riyadh is interested in further partnership between the two nations.
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Economy
OPEC+ Nations Agree Output Increase
Seven key OPEC+ nations (including Saudi Arabia and Russia) have agreed to a modest production quota increase of 188,000 barrels per day for September 2026.
Economy
OPEC+ Eyes Fourth Monthly Oil Output Hike
OPEC+ is expected to approve a fourth straight monthly increase to oil output targets on Sunday, three sources told CNBC. The move comes despite ongoing supply disruptions through the Strait of Hormuz tied to the U.S.–Iran conflict.
