Saudi Arabia denies discussion of oil output hike, says OPEC+ may decide new cuts
- Date: 22-Nov-2022
- Source: Arab Weekly
- Sector:Oil & Gas
- Country:Saudi Arabia
Saudi Arabia denies discussion of oil output hike, says OPEC+ may decide new cuts
RIYADH-
Saudi Arabia on Monday said that OPEC+ was sticking with oil output cuts and could take further measures to balance the market amid falling prices, denying a report it was considering boosting output, according to state news agency SPA.
The Wall Street Journal earlier on Monday reported an output increase of 500,000 barrels per day was under discussion for the next meeting of OPEC and its allies, known as OPEC+, on December 4. The report cited unidentified OPEC delegates.
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