Saudi reluctance to corral OPEC+ into raising production despite demands from the White House raises the question of what the US offers the kingdom in return.
A short and productive November meeting saw OPEC+ quickly trot out a series of eloquently crafted messages which emphasized that, in spite of rising oil prices and short-term growth demand, the group would be holding firm to its current production plans.
Each communique chimed soundly with the chief cheerleader Saudi energy minister Abdelaziz bin Salman Al Saud’s (AbS) lengthy exposition of the meeting where he made it clear OPEC+ would only increase production by 480kbd per month – as agreed in July – and resist the pressure from the US or other major consuming countries to pump more.
Click here to read the expert comment.
