Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

An Oil field in Khurais, Saudi Arabia. Photo: Maya Siddiqui/Bloomberg via Getty Images

OPEC+ reached a deal on oil production increases Sunday, following a protracted dispute between the United Arab Emirates and Saudi Arabia.

Why it matters: The increase in oil production, which is at the center of the agreement, comes at a pivotal point as global economies prepare to open up post-pandemic.

  • Earlier this month, gasoline prices spiked, reaching their highest levels in over six years after the group failed to arrive at an agreement.
  • Under the agreement, the group will begin coordinated increases in production in August. Overall production will grow by 400,000 barrels per day on a monthly basis thereafter.
  • The pact signals the end of a conflict between Saudi Arabia, the world's largest oil producer, and the Emirates.
  • “We are here to stay,” Prince Abdulaziz bin Salman, Saudi Arabia’s oil minister, said at a news conference, according to the New York Times. “What bonds us together is way beyond what you imagine.”

What they're saying: “This latest OPEC bust-up highlights important changes in oil marketing strategy that are starting to spread across the global oil patch,” Jim Krane, a fellow at Rice University’s Baker Institute, said, per the NYT.

Go deeper: Why rising oil prices matter — and what comes next

Go deeper

Ben Geman, author of Generate
Sep 14, 2021 - Energy & Environment

The fraught sprint to the UN climate summit

Illustration: Sarah Grillo/Axios

The scramble is intensifying to lay the groundwork for achieving tangible results at a key United Nations climate summit just seven weeks away.

Driving the news: UN Secretary-General António Guterres and U.K. Prime Minister Boris Johnson will convene a heads-of-state-level gathering Monday on the sidelines of the General Assembly.

Column / Harder Line

Poor countries push for lenience in banning fossil-fuel financing

Illustration: Aïda Amer/Axios

The growing urgency of tackling global warming is colliding with the world’s deeply uneven use of the heat-trapping energy resources that are causing it.

The big picture: The long-simmering debate over the role rich and poor countries should fill in tackling climate change is reaching a boiling point.

22 mins ago - World

Blinken, Austin call out China at event on Australia security pact

Blinken and Austin. Photo: Andrew Harnik/POOL/AFP via Getty Images

Secretary of State Tony Blinken and Defense Secretary Lloyd Austin condemned China's "aggressive" and "destabilizing" behavior at a press conference Thursday, as they inaugurated a major new trilateral security partnership with Australia and the U.K.

Why it matters: China was not explicitly mentioned in President Biden's announcement of the AUKUS alliance, through which the U.S. and the U.K. will help Australia acquire nuclear-powered submarines as part of a broader effort to ensure "peace and stability in the Indo-Pacific."

You’ve caught up. Now what?

Sign up for Mike Allen’s daily Axios AM and PM newsletters to get smarter, faster on the news that matters.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!