by Muddling through at depressed levels: Saudis set price. If they decide to hike as below, it will happen: OPEC’s new price hawk Saudi Arabia seeks oil as high as 0 Apr 18 (Reuters) — Top oil exporter Saudi Arabia would be happy to see crude rise to or even 0 a barrel. OPEC, Russia and several other producers began to reduce supply in January 2017 in an attempt to erase a glut. They have extended the pact until December 2018 and meet in June to review policy. OPEC is closing in on the original target of the pact – reducing industrialized nations’ oil inventories to their five-year average. Two industry sources said a desired crude price of or even 0 was circulated by senior Saudi officials in closed-door briefings in recent weeks.
Topics:
WARREN MOSLER considers the following as important: Economic Releases, Uncategorized
This could be interesting, too:
tom writes The Ukraine war and Europe’s deepening march of folly
Stavros Mavroudeas writes CfP of Marxist Macroeconomic Modelling workgroup – 18th WAPE Forum, Istanbul August 6-8, 2025
Lars Pålsson Syll writes The pretence-of-knowledge syndrome
Dean Baker writes Crypto and Donald Trump’s strategic baseball card reserve
Muddling through at depressed levels:
Saudis set price. If they decide to hike as below, it will happen:
OPEC’s new price hawk Saudi Arabia seeks oil as high as $100
Apr 18 (Reuters) — Top oil exporter Saudi Arabia would be happy to see crude rise to $80 or even $100 a barrel. OPEC, Russia and several other producers began to reduce supply in January 2017 in an attempt to erase a glut. They have extended the pact until December 2018 and meet in June to review policy. OPEC is closing in on the original target of the pact – reducing industrialized nations’ oil inventories to their five-year average. Two industry sources said a desired crude price of $80 or even $100 was circulated by senior Saudi officials in closed-door briefings in recent weeks.