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BBCNEWS World Business Report July 7, 2024

we will look at taiwan in the moment and the implications of nancy pelosi s trip there. we start with oil and the impact high prices is having on the global economy. nearly every country is struggling with the climbing cost of oil and gas as it fuels inflation and households struggle to pay bills so much so that president biden visited saudi arabia last month to persuade the major oil producer to increase supply and cool soaring prices. saudi arabia meets today with the other members of opec plus to decide on their next move. our middle east business correspondent sameer hashmi has more. another opec plus meeting but this one is a crucial one that comes with them if as of august producing the same amount you are back most members of opec plus in the uae only to members which have limited spare capacity. that boils down to them whether they will be able to boost production substantially to balance the market and bring down oil prices. it s very unlikely they are going ....

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BBCNEWS World Business Report June 4, 2024 04:33:00

Crisis of rising interest rates, all these factors could bring down oil prices, the saudi immoralities don t want to be in a situation with they substantially increase production right now but then had to look at cutting back oil surprise in a few month if demand goes down because it s not really easy to shift gears and start cutting back on production just when you have increased of a few months back. then there is a contrarian law according to opec the report which came out last month demand could go up substantially last year that would put more on supplies, again the saudis don t want to be in a situation where they have used up all their limited spare capacity they are not able to provide more supplies of this event arises, in all likelihood looks like there would be an increase but not a substantial ones as those the saudis don t want to use their ....

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