Trump’s spectre looms over tense Opec meeting
Russia and Saudi Arabia plan to raise supply. The move will please the US but make for a rocky summit this week
The Opec+ deal is all but done. A new version may be crafted here in Vienna over the next few days, but the cuts that began at the start of January 2017 and wiped out the global stock excess have run their course. Any new agreement will be designed to preserve a semblance of unity. But more oil is coming—that's been clear since Russia's Vladimir Putin said the oil-price rally had gone too far . Saudi Arabia has reluctantly accepted this. The only questions are how much Opec+ will add and when; whether it will be done officially or on the quiet; and whether it will be enough to compensate for mounting losses elsewhere, or to satisfy Donald Trump. His shadow will hang over the 22 June meeting
Also in this section
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
