Saudi Arabia’s Final Plan For Higher Oil Prices | OilPrice.com:
Rather than advocating for a deeper overall cut, OPEC’s largest producer and de facto leader Saudi Arabia will be pressuring non-compliant cartel members to fall in line with their quotas, but will nevertheless seek higher oil prices ahead of the listing of Aramco expected for December.
This would remind potential investors in the Kingdom’s oil giant that Saudi Arabia retains its influence over OPEC and has the final word on the cartels policy, The Wall Street Journal reported on Wednesday, citing sources with knowledge of the Saudi plan ahead of the OPEC meeting in early December.
Saudi Arabia is on a mission to get all overproducing countries in OPEC, and in the larger OPEC+ group such as Kazakhstan, to respect their production quotas under the deal.
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