Saudi Energy Minister Abdulaziz: The current OPEC+ deal continues to the end of 2023 – by fx_ross Oil Commodities OPEC
Saudi Energy Minister Abdulaziz bin Salman Al-Saud said the current OPEC+ deal continues to the end of 2023.If additional measures are required to balance supply and demand, we will be ready to intervene.Meanwhile, a sour note amid growing fears that China could reinstate its strict zero-COVID policy has weighed on risk appetite at the start of the week.
"The net impact is a c.1.5 mb/d loosening of 4Q22 balances, lowering our 4Q22 Brent forecasts by $10/bbl, to $100/bbl. Markets have instead priced a c.2 mb/d softening over the next 3 months, as these fundamental developments occurred during a seasonally low liquidity period."Information on these pages contains forward-looking statements that involve risks and uncertainties.
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