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Saudi and Iraq Energy Ministers Meet Ahead of OPEC+ Dec 4 Meeting

OIL

Saudi Arabia and Iraq’s energy ministers met yesterday and stressed the importance of adhering to the current OPEC+ output cuts until the end of 2023.

  • It comes not long after a recent WSJ report that said OPEC+ were looking at boosting production by 500,000 bpd at the next OPEC+ meeting December 4. This was quickly denied by key players such as Saudi, UAE, Kuwait, Iraq and others shortly after.
  • After yesterday’s meeting, Saudi and Iraq also pointed to "the ability to take further measures, if required, to achieve balance and stability in the market,".
Energy BulletsCommodities
Energy BulletsCommodities

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