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Saudi energy minister Khalid al-Falih. Photo: Sergei Savostyanov\TASS via Getty Images

Saudi energy minister Khalid al-Falih told Russian state media that the kingdom has "no intention" of cutting off oil supplies akin to the 1973 embargo. He also told Russia's state-owned TASS that his country plans to boost its production from 10.7 million barrels per day to 11 mbd in the "near future."

Why it matters: The comments published Monday come amid global condemnation and pressure on the kingdom over the killing of journalist Jamal Khashoggi.

  • They come a week after OPEC's dominant producer issued a veiled threat to use oil as a weapon if the U.S. imposes sanctions or other measures.
  • Few expected the Saudis to make good on that threat, but the new remarks are further evidence of backing off that idea.

Quoted: "Saudi Arabia is a very responsible country, for decades we used our oil policy as responsible economic tool and isolated it from politics," al-Falih said.

Go deeper:

Go deeper

Erica Pandey, author of @Work
1 hour ago - Economy & Business

The winners and losers of the pandemic holiday season

Illustration: Sarah Grillo/Axios

The pandemic has upended Thanksgiving and the shopping season that the holiday kicks off, creating a new crop of economic winners and losers.

The big picture: Just as it has exacerbated inequality in every other facet of American life, the coronavirus pandemic is deepening inequities in the business world, with the biggest and most powerful companies rapidly outpacing the smaller players.

Coronavirus cases rose 10% in the week before Thanksgiving

Expand chart
Data: The COVID Tracking Project, state health departments; Map: Andrew Witherspoon, Sara Wise/Axios

The daily rate of new coronavirus infections rose by about 10 percent in the final week before Thanksgiving, continuing a dismal trend that may get even worse in the weeks to come.

Why it matters: Travel and large holiday celebrations are most dangerous in places where the virus is spreading widely — and right now, that includes the entire U.S.

Updated 7 hours ago - Politics & Policy

Supreme Court backs religious groups on New York coronavirus restrictions

Photo: Saul Loeb/AFP via Getty Images

The U.S. Supreme Court ruled late Wednesday that restrictions previously imposed on New York places of worship by Gov. Andrew Cuomo (D) during the coronavirus pandemic violated the First Amendment.

Why it matters: The decision in a 5-4 vote heralds the first significant action by the new President Trump-appointed conservative Justice Amy Coney Barrett, who cast the deciding vote in favor of the Catholic Church and Orthodox Jewish synagogues.