Dear readers, The two news items below are for paying subscribers only. 1- Sources told Attaqa, www.attaqa.net, the only energy-focused media platform in Arabic, that Saudi Arabia intends to extend the 1 mb/d voluntary cut to August. An announcement could be made in the next several days. As you know, Saudi Arabia announced earlier this month a surprise voluntary cut of 1 mb/d for July. It also announced that it could be extended. Our understanding is that they want to control the market narrative by announcing monthly production changes in lieu of the OPEC+ monthly meetings that were held in 2021 and 2022. Also, it is our understanding that the amount of the extension could be any amount up to 1 mb/d.
Oil Market: Breaking News
Oil Market: Breaking News
Oil Market: Breaking News
Dear readers, The two news items below are for paying subscribers only. 1- Sources told Attaqa, www.attaqa.net, the only energy-focused media platform in Arabic, that Saudi Arabia intends to extend the 1 mb/d voluntary cut to August. An announcement could be made in the next several days. As you know, Saudi Arabia announced earlier this month a surprise voluntary cut of 1 mb/d for July. It also announced that it could be extended. Our understanding is that they want to control the market narrative by announcing monthly production changes in lieu of the OPEC+ monthly meetings that were held in 2021 and 2022. Also, it is our understanding that the amount of the extension could be any amount up to 1 mb/d.