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Saudi Arabia Threatens To Flood Oil Markets If OPEC Members Don’t Cut Output

OilPrice.com Wednesday, 4 December 2019
Three days after oil tumbled following a Bloomberg report that Saudi Arabia was angry at its (N)OPEC co-members for not complying with production quotas, and was no longer willing to compensate for excessive production by other members of the cartel, the WSJ reports that Riyadh, furious that the price of oil refuses to rise, is threatening to boost oil production and unilaterally flood the market if "some" OPEC nations continue to defy the group’s output curbs, cartel officials say. The surprising ultimatum which reeks…
Credit: Reuters Studio - Published < > Embed
News video: Oil drops even as OPEC curbs output

Oil drops even as OPEC curbs output 00:56

Oil prices fell Friday even after OPEC agreed to curb output. Julian Satterthwaite reports.

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