The next few days will be one of the most crucial for the oil market in weeks as several events and factors at the same time could determine the trend in prices by the end of this year and beyond
Giving feedback on the outcomes of the weekend’s three-day NEC meeting in Soweto, ANC treasurer-general acknowledged the party’s finances are in disarray
the opposite. slashing production and this infuriated the white house. the white house, biden administration says because of this and other things it s re-assessing s relationship with saudi arabia. what does that mean exactly? what are they willing to stop doing and stop engaging with saudi arabia? a good question, and it s yet to be seen. you saw a lot of angry statements from the spokesperson at the white house about this re-assessment. clearly angry about the opec decision. there s certainly been movement in congress to dial back military aid, economic ties to saudi arabia, but as yet the white house hasn t articulated what exactly is going to happen, and it s certainly possible over time that, you know, cooler heads prevail, and less happens than we would have thought a couple weeks ago. what white house officials say what s really critical as a next step is december. the next opec meeting. at that time the russian sanctions will kick in, in
sources saying after the decision from opec nations led by saudi arabia to slash global oil production. it is coming less than a week before the royal family hosts its annual investor summit, sometimes called davos in the desert, which will attract leaders of many top u.s. companies. nbc news pent gone correspondent courtney kube broke the story for us and is joining us now. this is fascinating stuff. i m wondering what the sell is really on the part of the biden administration and how do you balance the geopolitical implications of doing something like this. reporter: balance is the keyword here, what the biden administration is trying to do, they are furious about the decision led by saudi arabia to decrease production at that recent opec meeting. the biden administration has made no secret about that anger. the question is what can they do that is enough to squeeze the saudis without actually fracturing the relationship. so now a number of administration officials and