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Saudi Energy Minister Denies Reports Of Oil Production Hike

OPEC+

The Saudi Energy Minister Prince Abdulaziz bin Salman has told reporters that Saudi Arabia and OPEC+ members have had not discussed increasing oil production ahead of next month's OPEC+ ministerial.

  • Saudi Gazette: "Saudi Energy Minister Prince Abdulaziz bin Salman denies recent reports that Saudi Arabia is discussing with other OPEC producers output increase of 500,000 barrels per day."
  • Bin Salman's comments come after the Wall Street Journal, citing unnamed delegates within the group, reported that Saudi Arabia and other OPEC oil producers are discussing an output increase.
  • According to the WSJ, production would be hiked by up to 500,000 barrels per day at the December 4 OPEC+ meeting.
  • Middle East Monitor: "...talk of a production increase has emerged after US President Joe Biden's administration told a federal court judge that Saudi Crown Prince, Mohammed bin Salman, should have sovereign immunity from a US federal lawsuit related to the killing of Saudi journalist, Jamal Khashoggi."
Political Market NewsEnergy BulletsCommodities
Political Market NewsEnergy BulletsCommodities

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