Saudi Arabia’s foreign minister said a US-Arab summit on Saturday did not discuss oil and that OPEC+ would continue to assess market conditions and do what is necessary. “There was no oil discussion at the summit,” Prince Faisal bin Farhan Al Saud told a news conference, adding there were discussions with the United States and consumer nations about crude all the time. US officials said President Joe Biden would discuss energy security with leaders of Gulf oil producers during his visit and hoped to see more action by OPEC+ to boost output, but there was unlikely to be any bilateral announcements from the talks. The United States is eager to see Saudi Arabia and its OPEC partners pump more oil to help tame crude prices. OPEC+, which also includes Russia, meets next on August 3.
Published in The Express Tribune, July 17th, 2022.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
1732569774-0/Baymax-(2)1732569774-0-165x106.webp "article")
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ