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Information Minister in Pakistani-administered Kashmir: Five civilians killed and at least 29 others injured in shelling across the border with India
Israeli Army Radio's diplomatic correspondent quoted a senior Israeli official as saying: So he [Trump] decided to cut off contact. That might still change, but that’s the situation right now
Israeli Army Radio's diplomatic correspondent quoted a senior Israeli official as saying: Trump’s circle told him [Dermer] that Netanyahu was manipulating him, and there’s nothing Trump hates more than being portrayed as someone being played
Senior Palestinian official to Al Mayadeen: Meetings between the Israelis, Egyptians, and Qataris are all centered around the Israeli proposal, which does not guarantee an end to the war [on Gaza]
Senior Palestinian official to Al Mayadeen: “Israel” is threatening to expand the ground offensive if Hamas rejects the proposal
Senior Palestinian official to Al Mayadeen: Hamas rejects the Israeli proposal, viewing it as failing to guarantee an end to the war
Senior Palestinian official to Al Mayadeen: “Israel” is sticking to its proposal, and insists there is no alternative offer on the table for negotiation
Senior Palestinian official to Al Mayadeen: The meetings between the Israelis and the Egyptians and Qataris all revolve around the Israeli proposal
The administration was clearly looking for an off-ramp for this campaign against Ansar Allah, NBC News reports, citing US official
Trump's operation against Ansar Allah cost more than $1 billion, NBC News reports, citing US official

OPEC+ may further cut oil production following Russian price cap

  • By Al Mayadeen English
  • Source: Agencies
  • 2 Dec 2022 14:49
2 Min Read

OPEC and its allies are to meet on December 4 to come to a verdict.

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  • Oil Prices Rise Ahead of OPEC+ Meeting
    OPEC+ - or OPEC and its allies - have been working to cut oil production due to the uncertainty of the market.

Major oil producers will adhere to their current output strategy and even cut down oil production further in their coming meeting on Sunday amid falling oil prices, a coming Russian oil price cap, and sanctions.

The last time OPEC convened in October, a decision spearheaded by Saudi Arabia and Russia cut oil production by 2 million barrels per day starting November. 

The OPEC+ oil production reduction is the most substantial cut since the COVID-19 pandemic peak in 2020. 

EU and Australia, in addition to G7 countries, also appeared close to agreeing on $60 dollar-a-barrel price cap for Russian oil on Thursday.

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An Iranian source told AFP on Thursday that OPEC should vote for a "rollover of the previous decision" to cut 2 million barrels per day, contending that the market is "very uncertain" due to European sanctions on Russian energy.

Read next: US re-evaluating ties with KSA following OPEC+ decision: WH

In November, OPEC wrote in a report that "the world economy has entered a period of significant uncertainty and rising challenges in the fourth quarter of 2022.

"Downside risks include high inflation, monetary tightening by major central banks, high sovereign debt levels in many regions, tightening labor markets, and persisting supply chain constraints."

This report came before OPEC+ are set to convene on December 4 to set policies on their agenda.

The US is concerned that OPEC's probable decision to reduce oil production will pose serious problems for the country and may even be interpreted as a hostile act, according to a US Treasury report. The Biden administration assembled its top energy, economic, and foreign policy officials and entrusted them with lobbying Middle East allies, such as Saudi Arabia, the United Arab Emirates, and Kuwait to vote against decreasing oil production.

  • OPEC+
  • Russia

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Throughout Operation Prosperity Guardian, current and former US military and intelligence officials expressed disquiet at the enormous “cost offset” involved in battling Ansar Allah. (Al Mayadeen English; Illustrated by Zeinab El-Hajj)

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