{"id":73658,"date":"2022-10-07T11:41:51","date_gmt":"2022-10-07T07:41:51","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=73658"},"modified":"2022-10-07T11:42:04","modified_gmt":"2022-10-07T07:42:04","slug":"u-s-bill-pressuring-opec-after-oil-production-cut-gains-momentum","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/u-s-bill-pressuring-opec-after-oil-production-cut-gains-momentum\/10\/07\/market-updates\/","title":{"rendered":"U.S. bill pressuring OPEC+ after oil production cut gains momentum"},"content":{"rendered":"\n<p>Top U.S. senators from both parties on Thursday gave momentum to a bill pressuring OPEC+ after the group announced a deep cut in oil production this week despite lobbying by President Joe Biden&#8217;s administration to keep the taps open.<\/p>\n\n\n\n<p>The so-called No Oil Producing and Exporting Cartels (NOPEC) bill gained interest after OPEC+, a group led by Saudi Arabia and Russia, decided to cut oil production by 2 million barrels per day on Wednesday. OPEC+ moved despite tight global oil supplies worsened by Russia&#8217;s war in Ukraine.<\/p>\n\n\n\n<p>&#8220;What Saudi Arabia did to help (Russian President Vladimir) Putin continue to wage his despicable, vicious war against Ukraine will long be remembered by Americans,&#8221; said Senate Majority Leader Chuck Schumer, a Democrat. &#8220;We are looking at all the legislative tools to best deal with this appalling and deeply cynical action, including the NOPEC bill,&#8221; Schumer said in a statement.<\/p>\n\n\n\n<p>Senator Chuck Grassley, a Republican who sponsored NOPEC, said he intends to attach the measure as an amendment to the forthcoming National Defense Authorization Act.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Top U.S. senators from both parties on Thursday gave momentum to a bill pressuring OPEC+ after the group announced a deep cut in oil production this week despite lobbying by President Joe Biden&#8217;s administration to keep the taps open. The so-called No Oil Producing and Exporting Cartels (NOPEC) bill gained interest after OPEC+, a group &hellip;<\/p>\n","protected":false},"author":9,"featured_media":54085,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[36],"tags":[6846,6876,7004,6909],"class_list":["post-73658","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-market-updates","tag-oil","tag-opec","tag-opec-2","tag-wti"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/73658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=73658"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/73658\/revisions"}],"predecessor-version":[{"id":73660,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/73658\/revisions\/73660"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/54085"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=73658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=73658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=73658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}