Markets, Energy, Oil And Gas

Markets, Energy

Saudi Arabia says deeper OPEC cuts will be considered in December, calls for better compliance

Saudi energy minister says President Trump is entitled to tweet anything he wants

9/12/2019 1:16:00 PM

Saudi energy minister says President Trump is entitled to tweet anything he wants

Saudi Arabia's newly appointed energy minister said the country would keep overcomplying with production cuts and deeper cuts would be discussed at OPEC's next full meeting.

Prince Abdulaziz bin Salman said that the meeting was productive, fruitful and transparent."And more important(ly) I think every participant did see that there is a role to play and a way to improve this endeavor," Prince Abdulaziz bin Salman said at a press conference, shortly after the JMMC meeting concluded.

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Sitting alongside his Russian counterpart, Abdulaziz said Thursday's talks had "awakened" Riyadh and Moscow to a "new reality."He suggested both countries had not been "too inclusive" to other OPEC members in previous meetings, before adding this would change over the coming months.

"I think our colleagues have welcomed this change," Abdulaziz said.Shortly thereafter, Russian Energy Minister Alexander Novak stressed it was "extremely important" for all members signed up to the declaration of production cuts to reach full compliance.

He also reiterated Moscow's commitment to the agreement.'Tweet anything he wants'When asked how OPEC planned to navigate President Donald Trump's social media missives on the oil market, Abdulaziz replied: "The president is the president. He is entitled to tweet anything he wants."

This meeting is of particular interest as it comes after defacto OPEC leader Saudi Arabia appointed new Energy Minister Prince Abdulaziz bin Salman to replace Khalid al-Falih.However, the 14-member producer organization is not expected to deviate from its current policy of collaborating with non-OPEC producers to curb oil production.

The full coalition will next meet in Vienna, Austria in early December to decide whether any further action is required for 2020.Since 2017, OPEC and a group of other non-OPEC producers led by Russia (collectively known as "OPEC+") have cut their oil production in a bid to rebalance oil markets and support prices.

The OPEC+ deal was forged after a period of slumping oil prices following a glut in supply and soft demand. The current agreement has been extended several times and is set to last until March 2020.The defacto leader of OPEC, Saudi Arabia, and Russia are the most influential members of OPEC+ and the energy ministers from both countries have said that they are committed to the deal.

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However, the potential for price declines is present amid a rising U.S. shale oil supply and a faltering demand outlook. Read more: CNBC »

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He does and we like the instant lies🤡👺👹 Why dont Pre.Trump tweets on Mr. Putin, Mr. Kim Jong ? He knows they will answer him with Rockets, they will blast the WH on his head, this why. REALLY, THEN SO DO WE!!! Thanks for harvesting the 9/11 TERRORIST,, and Landing many Politicians in your Pockets... AINCE when is Saudí Arabia our Guode to Politics, Ohh yes since someone is Making side Deals with them...

like these guys They all belong to the same organized crime syndicate, which includes murder and genocide! Very well-said...it is the stupid market that is taking hos bs...seriously... Once the market don’t do that...he will fade into oblivion...bwa hahaha!!! Finally; a newsource admits the White House is owned by Saudis, among others. We shld just ask the Saudis, Putin & Bibi directly America is allowed to do from now on. Wld cut thru alot of red tape.

[] [] AMALGAMATED IN HUMANS ^ [] [] Well, you know if a minister of a totalitarian monarchy says it's okay...why is this even a fucking headline? Seriously, don't you have some actual news to report? Thanks for this hard-hitting breaking news. lol...

Saudi energy minister says every country should comply with OPEC+ oil output cutsEvery country should comply with oil output cuts, Saudi Arabia's energy min... حسبته خالد عبدالرحمن يغني 🤣 The Russians, Saudis and OPEC nations don't get to call the shots anymore. We call the shots.

Russia, Saudi agree everyone should implement OPEC+ deal: Ifax cites NovakRussian Energy Minister Alexander Novak said on Wednesday that he and Saudi Arab... Well there's our indicator - if RU and SAU want it, we should resist. Business is business 😉 As the rich keep getting richer while the keep believing that there is a such lie as a middle class lol

Hamas confirms Saudi Arabia detained senior leaderMohammad al-Khoudary had been a resident of Saudi Arabia for decades before his abduction in April. The Palestinian movement says attempts to release have been unsuccessful so far.

Why Russia And Saudi Arabia Secretly Want The Democrats To Beat Trump2020 Democrat candidates are calling for dramatically less oil production in the US. This is just what Russia and Saudi Arabia need. 🤔 Let me guess, he's a destabilizing influence in otherwise stable markets? Close?

Why Russia And Saudi Arabia Secretly Want The Democrats To Beat Trump2020 Democrat candidates are calling for dramatically less oil production in the US. This is just what Russia and Saudi Arabia need. Fake news I’m sorry but this is a very simple minded piece. To think Dems will be good for Saudi and Russian businesses is wrong. These news wave of Dems have made it clear they won’t play nice with ruthless authoritarian regimes. Sanctions will come That’s fine...but Dems still don’t want their help.

U.S. briefly overtakes Saudi Arabia as top oil exporter: IEAGlobal oil demand is weathering economic headwinds, the International Energy Age... I think you meant producer Don't your know difference between production and export 🤔🤔 Saudi exported around 6.7MBPD in June and you say USA overtook Saudi by exporting 3MBPD What crap journalism. Simply 3rd rate. This really pisses me off; I (and countless others) waited in those 'wonderful' gas queues in 73-74 just trying get some gas (petrol) to get to work! Oil shortages: lying bastards!