Saudi energy minister: All options open in OPEC + meeting, including further cuts

Eren Sengezer FXStreet

In an interview with Arabiya TV on Thursday, Saudi Arabia's energy minister said all options, including further oil output cuts, will be on the table at the next OPEC+ meeting, per Reuters.

Market reaction

Crude oil's reaction was relatively muted to this comment with the barrel of West Texas Intermediate (WTI) trading at $55.60, erasing 0.75% on a daily basis ahead of the Energy Information Administration's (EIA) weekly crude oil stock report. In the meantime, the barrel of Brent was erasing 0.83% on the day at $62.10.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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