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Oil, OPEC and Saudi Arabia
Saudi Minister Warns of $50 Oil as OPEC+ Members Flout Production Curbs
The kingdom called out members for overproducing, in what was seen as a veiled threat of a price war.
OPEC refutes WSJ article on Saudi saying oil prices could drop to $50
OPEC said in a statement on Wednesday that a Wall Street Journal article reporting that Saudi Arabia's oil minister had said oil prices may drop to $50 if the group's members do not stick to output cuts was "wholly inaccurate and misleading".
Saudi minister says crude prices could fall 33% if OPEC members don't stop pumping so much
Part of the issue is that members are not sticking to their pledged cuts. The Saudi minister called out Iraq, which surpassed its quota by 400,000 barrels per day in August, according to S&P Global Ratings data. Kazakhstan, which overproduced by 120,000 barrels a day, was also singled out.
Why OPEC+ Got a Saudi Warning About $50 Oil
Saudi Arabia's oil minister has warned that oil could hit $50 a barrel if OPEC+ members flout production curbs, in what was seen as a veiled threat of a price war. Some key members of the cartel are set to hold an online meeting Wednesday.
OPEC rebuts WSJ article on Saudi saying oil prices could drop to $50
OPEC rebutted a Wall Street Journal report on Wednesday, calling it wholly inaccurate and misleading in saying that Saudi Arabia's energy minister warned oil prices will drop to $50 per barrel if OPEC+ members do not stick to agreed-upon production limits.
Just a Bluff or the real stuff? Saudi Arabia Threatens Oil Price Drop to $50 per barrel.
Saudi Arabia is reportedly threatening to lower oil prices to $50 a barrel, a significant drop from the current price, which is about $70. Why? They’re worried about a potential price war with other OPEC nations and aim to maintain control over global oil prices.
Title: Saudi Arabia Warns of Potential $50 Oil Price Amid OPEC+ Production Overages
Saudi Arabias oil minister has issued a warning that oil prices could fall to $50 a barrel if certain OPEC+ members continue to exceed their agreed production limits, as reported by delegates referenced in The Wall
Saudi Prince warns of $50 oil: Opec discord and price war threat
The Saudi energy minister warned that oil prices could drop to $50 per barrel if OPEC members continue to exceed their agreed-upon production limits. According to The Wall Street Journal, other OPEC members interpreted this as a veiled threat to initiate a price war.
Saudi minister's warning ignites fears of falling oil prices
The Saudi Energy Minister has warned that oil prices could fall to £40 per barrel if OPEC members continue to exceed their agreed production limits. According to The Wall Street Journal, other OPEC members saw these statements as a veiled threat to initiate a price war.
In Depth
5h
In Depth
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A Saudi Arabian firm backed by billionaire Prince Alwaleed bin Talal is resuming work on a tower that’s set to soar to 1,000 ...
18h
Saudi Prince's $11.8M Never-Lived-In Virginia Mansion Finally Under Contract
The post Saudi Prince's $11.8M Never-Lived-In Virginia Mansion Finally Under Contract appeared first on Real Estate News & ...
3d
Saudi Strategic Shift Raises Specter Of Another Oil Bust
Saudi Arabia is again signaling a shift in strategy to protect global market share. The last time this happened, an oil bust ...
Hosted on MSN
1d
Saudi Arabia will leave Russia without money for war if oil prices collapse – Politico
Moscow will lack the funds to support its war economy if Saudi Arabia fulfils its plans to increase oil production to regain ...
Skift
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What is a Domestic Tourist? And Why Do Saudi Arabia and the UAE Want Them?
Domestic tourism is a relatively new fascination amongst Gulf countries whereby they look to increase the spending of ...
3h
Eddie Howe's verdict on three years of Saudi ownership in Newcastle speaks volumes
It is three years since the Saudi Arabian wealth vehicle, the Public Investment Fund, bought Newcastle United, whipping fans ...
Hosted on MSN
9h
Iran-Russia-China Vs Israel-U.S-Saudi? China's First Reaction On Tel-Aviv Blitz Leaves Israel Fuming
China has called for a ceasefire in Gaza without directly naming Iran, aiming to present itself as a stabilizing power after ...
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