Saudi energy min: OPEC+ cuts can ‘absolutely’ go beyond Q1 | Forexlive
- Sees signs of demand improvement
Oil has caught a bid on these headlines. There is a sense in the market lately that OPEC has reached the limits of what it can accomplish and that there’s the threat of a war for market share in 2024 if US production continues to grow.
“I honestly believe that 2.2 million will overcome even the usual inventory build that usually happens in the first quarter,” he said.
In separate news, Russia’s Putin will visit Saudi Arabia and the UAE this week.