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OPEC+ in State of Readiness: Saudi Energy Minister

OIL

OPEC+ is in a state of readiness to help alleviate the divergence between the physical and futures markets according to Saudi’s Energy Minister Prince Abdulaziz bin Salman at a conference at the weekend.

  • "I think the physical market is telling us something, I think the futures market is telling us something else," he said.
  • "It is matter of being in state of readiness. That's why we keep taking these precautionary measures. It is part and parcel of what we call being proactive and pre-emptive." Bin Salman added.
  • On the criticisms of the latest OPEC+ decisions, Prince Abdulaziz said he tolerates "all mockeries," adding "I am much more interested with my colleagues in OPEC+ to do the job of being a proper regulator."

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