Fetching News Details

Saudis signal oil output boost
May 26, 2018
Source: World Oil

Saudis signal oil output boost

As prices trade near $80/bbl, the Saudi Energy Minister has said that OPEC and its allies would gradually revive crude output in the second half of this year, contrary with the decision to restraint supplies and boost prices. This move will ease consumers’ anxiety to a great extent. Oil’s surge to a three-year high puts pressure on the world economy and further draws political heat from major consumers, particularly US.

⬅ all news

Please Login to Save News for Later