Crude oil futures tumbled at the open Sunday after OPEC decided to boost output. WTI crde (CL1:COM) -3.8% and Brent (CO1:COM) -3.5% dropped more than 3%. Eight members of OPEC+ on Saturday announced a ...

Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, drew a striking historical parallel during a virtual OPEC+ meeting, referencing the 1973 oil embargo as the group ratified its second ...

The 1973 oil crisis began when Arab producers led by Saudi Arabia slapped an oil embargo on Western supporters ... output to 12 million bpd and its Gulf OPEC ally, the United Arab Emirates ...