The West will be horrified: the Saudis are preparing a change in the Oil Market Strategy

Опубликовано: 04 Август 2023
на канале: Геоэнергетика ИНФО

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Saudi Arabia is behind the scenes preparing a complete change of strategy in the oil market. Geoenergy Info. Russia and Saudi Arabia will extend cuts in oil supplies and production. Oil prices are rising on news from Saudi Arabia. Saudi Arabia extended the cut in oil production. Saudi Arabia's recent emergency cuts in oil production are starting to weigh on the economy of the Middle Eastern monarchy, according to the latest IMF Global Economic Outlook Report. The Kingdom's GDP growth forecasts for 2023 have been significantly lowered and are now expected to be just 1.9%, compared to the previously forecasted 3.1%.

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