{"id":376613,"date":"2021-04-02T10:31:44","date_gmt":"2021-04-02T14:31:44","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=376613"},"modified":"2021-04-02T10:32:01","modified_gmt":"2021-04-02T14:32:01","slug":"opec-russia-agree-to-drop-oil-prices-to-wipe-out-competition","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/opec-russia-agree-to-drop-oil-prices-to-wipe-out-competition\/","title":{"rendered":"OPEC, Russia agree to drop oil prices to wipe out competition"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fopec-russia-agree-to-drop-oil-prices-to-wipe-out-competition%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=376613&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div id=\"attachment_2393368\" class=\"wp-caption aligncenter\">\n<p id=\"caption-attachment-2393368\" class=\"wp-caption-text\">FILE \u2013 An official of a Saudi oil company watches progress at a rig at the al-Howta oil field near Howta, Saudi Arabia. (AP Photo\/John Moore, File)<\/p>\n<\/div>\n<h5>OAN Newsroom<br \/>UPDATED 7:22 AM PT \u2013 Friday, April 2, 2021<\/h5>\n<p>International oil cartel OPEC and its allies said they may drop crude prices again in response to an unfriendly stance by the Biden administration and attempts by Iran to reenter the market.<\/p>\n<p>\u201cThe reality that remains that global picture is far from even and the recovery is far from complete,\u201d stated Prince Abdulaziz bin Salman, the Saudi Arabian Minister of Energy.<\/p>\n<p>During Thursday\u2019s meeting in Vienna, OPEC and Russia agreed to increase oil output in the coming three months to balance out oil prices and remove unnecessary competition from the market.<\/p>\n<p>The decision came after China and Iran agreed to a $20 billion trade deal that would help Iran increase its own oil production amid ongoing sanctions and then sell it to China.<\/p>\n<p>Despite the potential threat from that new partnership, OPEC officials insisted they remain committed to maintaining control over the global energy market.<\/p>\n<p>\u201cIn this situation, we should be monitoring the market carefully and we should be on top of things,\u201d stated Russian Federation Deputy Prime Minister Alexander Novak. \u201cNot allowing the market to overheat, but at the same time not allowing the market to be oversupplied.\u201d<\/p>\n<p>OPEC said the upcoming increase in the oil supply will reduce prices from the current $60 per barrel, but it will keep them at a comfortable level above $40 per barrel.<\/p>\n<h4>MORE NEWS: <a href=\"https:\/\/www.oann.com\/doj-unveils-new-resources-for-mont-native-americans-amid-several-missing-persons-murder-cases\/\"> DOJ unveils new resources for Mont. Native Americans amid several missing persons, murder cases<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>FILE \u2013 An official of a Saudi oil company watches progress at a rig at the al-Howta oil field near Howta, Saudi Arabia. (AP Photo\/John Moore, File) OAN NewsroomUPDATED 7:22 &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2275899,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-376613","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/376613","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=376613"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/376613\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2275899"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=376613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=376613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=376613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}