Saudi Arabia, Some OPEC Members Clash Over Oil-Production Quotas
Sunday, 4 June 2023 United Arab Emirates’ Minister of Energy and Infrastructure in Vienna for an OPEC meeting this weekend. VIENNA—Saudi Arabia and some OPEC members clashed over who would produce how much oil ahead of a contentious group meeting on Sunday, people familiar with the matter said, in a sign of growing…
Saudi Arabia, an OPEC heavyweight, decided on Sunday to make a further cut in production in the hope of boosting slumping oil prices, against an economic backdrop overshadowed by the war in Ukraine.
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In order to keep crude oil prices stable on the world market, the OPEC+ countries, including heavyweight Russia, have agreed to maintain previous production cuts through 2024, while Saudi Arabia cuts..
Credit: euronews (in English) Duration: 00:35Published
Sunday, 4 June 2023
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