World & Nation
OPEC did not change its targets for shipping oil amid Russian sanctions that could take significant amounts of oil off the market.
California
The average price for a gallon of regular gas in Los Angeles County hit $6.494, but despite the OPEC+ news, Californians should expect some relief at the pump soon.
Opinion
History will show that the cartel is choosing the wrong side.
Business
OPEC+ nations have agreed to cut the group’s output target by 2 million barrels of oil a day as they seek to halt a slide in oil prices.
A pledge by OPEC+ to reduce its oil production by 2 million barrels a day brought concerns about more economic pain to come.
Mohammad Barkindo, who has led the Vienna-based oil cartel OPEC since 2016, died late Tuesday, Nigerian officials said.
Biden’s first trip to the Saudi kingdom as president is likely to occur later this month but details have not been finalized, a source told the AP.
Global shares were mixed Monday in quiet trading, as U.S. markets were closed for the Independence Day holiday.
Members of the OPEC cartel of oil-producing nations will decide whether to stick with production cuts, relax them or deepen them in the hopes of propping up prices.
In a victory for Saudi Arabia and Russia, OPEC and other oil producers agree to a one-month extension of their record cuts in output.