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Al-Araby
Al-Araby
Saudi Arabia’s cabinet emphasised on Tuesday “the essential role” of the OPEC+ agreement in bringing balance and stability to oil markets, Saudi state news agency SPA reported. The statement, a little over a week before OPEC+ is scheduled to meet, indicates little chance the grouping will decide to raise oil output at a faster pace. Several major consuming nations, including the United States, have called on producers to raise their output at a faster rate to help calm crude oil prices, which have soared on the back of Russia’s invasion of Ukraine. OPEC+, which groups the Organisation of Petro…
