As Oil Prices Sink Again, OPEC+ Ministers Stick to Their Plan - Bloomberg

As Oil Prices Sink Again, OPEC+ Ministers Stick to Their Plan - Bloomberg:

As crude prices sink again -- completely erasing the surge caused by attacks on Saudi Arabia -- OPEC+ ministers acknowledged the growing risks to oil demand but gave no indication of a change in strategy.

“Of course, demand is affected by the status of the global economy, and the economy is slowing down,” Russian Energy Minister Alexander Novak said in Moscow. “There are no crisis events that call for an emergency meeting.”

Less than three weeks after missile and drone strikes on Saudi Arabia’s main oil facility caused a record price spike, crude has slipped below $60 again in London. The kingdom has now stabilized output back at pre-attack levels and investors are once again turning their focus to signs of an economic slowdown.