Less than a minute
99 words
5 views
OPEC’s largest producer and de facto leader Saudi Arabia will likely tell fellow producers in the OPEC+ pact next week that the Kingdom would no longer tolerate and compensate for cheating on assigned production quotas, Bloomberg reported on Friday, citing people with knowledge of the current Saudi position. While other members in the cartel, notably Iraq and Nigeria, have repeatedly exceeded their respective production caps by more than 100,000 bpd, Saudi Arabia has not only stuck with its share of the cuts, but has also overcomplied…