With the need for more oil supply evident, traders expect the OPEC+ coalition, led by Saudi Arabia and Russia, will agree to increase crude production when it meets on March 4, reversing some of the output cuts made last year. But it’s unclear if the group will act vigorously enough.
Petrol öngörüleri tekrar yükselişte dunya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dunya.com Daily Mail and Mail on Sunday newspapers.
(Bloomberg) Saudi Arabia and Russia are once again heading into an OPEC+ meeting on opposite sides of a crucial debate about the oil market.
Riyadh is publicly urging fellow members to be “extremely cautious,” despite prices rebounding to a one-year high.
Ten months after slashing crude production when Covid-19 crushed global demand, OPEC and its allies are still withholding 7 million barrels a day from the market. It s been a sacrifice, and now the group must chart a path forward that won t erase hard-fought oil price gains.
Saudis, Russia Differ Again on Oil Strategy Before OPEC+ Meeting leaderpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from leaderpost.com Daily Mail and Mail on Sunday newspapers.