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Saudi Arabia's strategy with the OPEC+
Saudi Arabia has historically played a significant role in the global oil market as a swing producer—a country or company with the ability to significantly influence global oil prices by adjusting its production levels—within the Organisation of Petroleum Exporting Countries (OPEC). This stance has given Riyadh enormous influence over oil prices due to its ability to change oil output levels as the world’s second-largest producer. Recent events, however, have seen Saudi Arabia impose significant output cuts in line with its ambitious Vision 2030 goals. These measures are not only about stabilising global oil ... (full story)
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- Posted: Aug 2, 2024 6:07am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 206
