Russian President Vladimir Putin will visit the United Arab Emirates and Saudi Arabia this week, Russian news outlet Shot reported on Monday, citing Putin’s aide Yury Ushakov.

Chinese President Xi Jinping arrived in San Francisco, United States, to participate in the meeting of the Asia-Pacific Economic Cooperation and meet with American officials.

The latest OPEC statistics show that the proven oil reserves of the Islamic Republic of Iran in 2022 are equal to 208 billion and 600 million barrels, and this country is still the third largest owner of oil reserves in the world.

The American Energy Information Administration published a report saying that the members of the world's oil exporting countries (OPEC) have earned about $888 billion in oil export income in 2022, and Iran ranks fifth with an income of $54 billion.

Saudi Arabia has said it will reduce how much oil it sends to the global economy by one million barrels per day.

Abu Dhabi will remain a "reliable" supplier of energy, the UAE president said.

VIENNA, 6th July, 2020 (WAM) -- The price of OPEC basket of thirteen crudes stood at US$42.93 a barrel on Friday, 3 July 2020, compared with $42.89 the previous day, according to OPEC Secretariat calculations.

VIENNA, 1st July, 2020 (WAM) -- The price of OPEC basket of thirteen crudes stood at $38.22 a barrel on Tuesday, 30th June, 2020, compared with $37.34 the previous day, according to OPEC Secretariat calculations.

Saudi Arabia’s economic growth in 2019 will be significantly less than the kingdom had expected because of OPEC-led oil output cuts, the country’s finance minister said on Wednesday.

Members of the Organization of the Petroleum Exporting Countries (OPEC) have agreed to extend cuts to their supply of oil to the international markets for another nine months as they seek more stable prices amid an increase in oil production in the United States and tensions created in the market as result of Washington’s political and economic tensions ...

International benchmark Brent crude decreased to $67 per barrel at 1230 GMT while American benchmark West Texas Intermediate (WTI) fell to $56.97 a barrel on Monday.

Japan has resumed Iranian crude oil imports after having halted them earlier following last year’s re-imposition of U.S. sanctions on Tehran, Iran’s state-run IRNA news agency reported, citing the head of Iran’s Central Bank.

OPEC and its allies announced Friday crude output cuts of 1.2 million barrels per day (mbpd) to balance the global oil market.

Qatar in a surprise announcement says it will leave the Organization of the Petroleum Exporting Countries (OPEC) next month in a move that appears to have been meant to take a swipe at the group’s de factor leader Saudi Arabia.  

 Iranian President Hassan Rouhani denounced recent sanctions imposed by Washington against Tehran as ineffective and said despite the US attempts to cut the Iranian crude exports down to zero, the Islamic Republic can sell its oil.

US President Donald Trump has expressed concern over the Saudi decision to decrease its oil output in December, requesting oil prices to remain low.