In response to written questions from Bloomberg News, the Saudi Arabian Minister of EnergyPrince Abdulaziz bin Salman said OPEC and its allies (OPEC+) may be forced to cut oil production as physical and futures markets drift further and further away from fundamentals.
Featured Statements
“The paper and physical markets are increasingly disconnected.”
“Futures prices do not reflect underlying supply and demand fundamentals, which could force the group to cut production when it meets next month to discuss production targets.
“Witnessing this recent damaging volatility disrupts basic market functions and undermines the stability of oil markets, which will only strengthen our resolve.”
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
