09 Nov, 23

Oil Demand In Doubt As Saudis Extend Production Cuts

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Last weekend, Saudi Arabia said it would extend its voluntary production cuts of 1 million barrels daily of crude until the end of the year. At the same time, the kingdom left its official selling prices for Asia unchanged for deliveries in the last month of the year as refiners’ margins weakened. The two moves have prompted fresh doubts about the outlook for oil demand, with some expecting Saudi Arabia’s behavior might indicate uncertainty about it. Oil demand and its future has become one of the great conundrums of our time. Earlier this week,…

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