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Saudi King Salman: Role of OPEC+ deal is to maintain balance and stability in oil markets

Dhwani Mehta FXStreet

In a telephonic conversation with US President Joe Biden on Wednesday, Saudi Arabia’s King Salman said that the role of the OPEC and its allies (OPEC+) agreement is important to maintain.

King Salman “stressed the importance of maintaining balance and stability in the oil markets, highlighting the role of the historic OPEC Plus agreement in this regard, and the importance of maintaining the agreement,” the state news agency (SPA) reported.

Market reaction

WTI was last seen changing hands at $88.60, down 0.53% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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Saudi King Salman: Role of OPEC+ deal is to maintain balance and stability in oil markets

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