The saudi energy ministerAbdulaziz bin Salman Al Saud, affirmed on Friday that the OPEC+ is doing the right job for a stable energy market.
Meanwhile, an Iranian official said he urged the United States to “lift sanctions on Iran, if it wants to reduce the price of oil.” He added that “you cannot solve the problem by threatening a single country.”
Separately, some industry players and a US official told Reuters that Russia could bypass the G7’s new price cap on its oil exports, as Moscow has access to enough tankers to ship most of its oil. and render the price cap ineffective.
market reaction
WTI is licking its wounds near $83.35, at the time of writing, after hitting a daily low of $82.96 earlier. US oil suffers from widespread risk aversion and notable demand for dollars, while Treasury yields remain intact in their relentless rise. Mixed oil-related headlines have had no impact on black gold so far on Friday.
Source: Fx Street
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