Saudi Arabia denies pushing OPEC allies for deeper cuts, supply says
OPEC Secretary Normal Mohammed Sanusi Barkindo (L) and Saudi Arabia’s Vitality Minister Prince Abdulaziz bin Salman (R) attend an Opec-JMMC assembly within the UAE capital Abu Dhabi on September 12, 2019.
KARIM SAHIB | AFP | Getty Photos
OPEC kingpin Saudi Arabia has denied pursuing a deeper spherical of manufacturing cuts, one senior oil official informed CNBC on Thursday, despite intense speculation the worldwide oil-producing group was on the cusp of imposing additional output curbs.
The oil-rich kingdom was extensively thought-about to be pushing for different OPEC members to join a minimum of a further 400,000 barrels per day (bpd) of manufacturing cuts. However, one nameless Saudi oil official informed CNBC on the sidelines of a gathering in Vienna, Austria that this was not the case — and Riyadh had not proposed any figures.
OPEC and non-OPEC allies — generally known as OPEC+ — have gathered in Vienna this week to debate the following section of their oil manufacturing coverage. The 14-member group will maintain talks on…