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Oil: OPEC+ ready to reduce its supply to avoid a fall in barrel prices

Thread starter micromachine
Start date Aug 24, 2022

micromachine

Lieutenant General

Loyal

Aug 24, 2022

Saudi Arabia's energy minister is worried about the risk of a drop in oil prices considering that the market is sufficiently supplied while a slowdown in the global economy will weigh on demand.

Reducing the supply of oil seems paradoxical in the midst of an energy crisis, even though a few weeks ago President Joe Biden went to Saudi Arabia to demand an increase in production. Yet this is what OPEC+ (a partnership that brings together oil-exporting countries, led by Saudi Arabia and Russia) plans to do.

More at https://www.latribune.fr/economie/i...iter-une-chute-des-cours-du-baril-928390.html

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