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By ignoring the United States and slashing its oil production, the OPEC+ group of petro-states demonstrated the tightening bond between Saudi Arabia, normally a close US ally, and Russia.
OPEC+: a thriving Saudi-Russian marriage of convenience
OPEC+: a thriving Saudi-Russian marriage of convenience
Joining me now is independent oil analyst cornelia meyer. good morning, sally. are we looking at a production cut announcement of 2 million barrels per day? it announcement of 2 million barrels per day?— announcement of 2 million barrels per day? it could be anything — barrels per day? it could be anything between _ barrels per day? it could be anything between one - barrels per day? it could be | anything between one and 2 million barrels a day but what we have to look out for is not just the size of the cut but what are they cutting from? are they cutting from current quotas or from curr...
The announcement comes shortly after the G7 agrees to cap the price of Russian oil in support of Ukraine.