2023-05-23 09:28:56
Saudi Arabia’s Energy Minister Abdul Aziz on Thursday issued a new warning to oil short sellers about a week before the next meeting of OPEC+ — the Organization of the Petroleum Exporting Countries (OPEC) and major non-member oil producers. issued.
OPEC+ announced an unexpected production cut last month. Fears of a global economic slowdown have forced fund managers to turn bearish on oil again in recent weeks.
OPEC+ production cuts target speculators who see markets as a ‘playground’
Saudi energy minister warns oil speculators to ‘be careful’
“I keep telling them they’re going to get hurt. They got hurt in April,” Abdulaziz told the Qatar Economic Forum in Doha. “I just want to tell you to be careful,” he said.
(Disclaimer: The Qatar Economic Forum is sponsored by the Government of Qatar and hosted by Bloomberg)
news-rsf-original-reference paywall">Original title:Saudi Energy Minister Tells Oil Speculators to ‘Watch Out’ (1)(excerpt)
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