{"id":6460,"date":"2022-11-14T14:59:59","date_gmt":"2022-11-14T14:59:59","guid":{"rendered":"https:\/\/euromenaenergy.com\/?p=6460"},"modified":"2022-11-14T14:59:59","modified_gmt":"2022-11-14T14:59:59","slug":"saudi-oil-minister-says-opec-will-stay-cautious-on-production","status":"publish","type":"post","link":"https:\/\/emimer.com\/?p=6460","title":{"rendered":"Saudi oil minister says Opec+ will stay cautious on production"},"content":{"rendered":"
\n
\n

Bloomberg \/ Sharm El-Sheikh<\/p>\n<\/div>\n

Saudi Arabia\u2019s energy minister said Opec+ will remain cautious on oil production, weeks after the group angered the US by lowering output.
\nThe 23-nation alliance, led by Riyadh and Russia, is set to meet on December 4 to decide whether to cut production again, keep it stable or reverse course and pump more. Members are looking at the state of the global economy and seeing plenty of \u201cuncertainties,\u201d Prince Abdulaziz bin Salman said.
\nOil has dipped since June as central banks raise interest rates and China maintains its Covid Zero strategy. But Brent is still above $95 a barrel and up 23% this year, with many traders concerned about supply shortages once the European Union effectively bans the import of Russian crude from next month.
\n\u201cOur theme is being cautious,\u201d the minister said at the Saudi Green Initiative during the COP27 climate summit in Egypt. \u201cIt\u2019s about being responsible and not losing sight of what the market requires.\u201d
\nHe cited last month\u2019s report from the International Monetary Fund that said the \u201cworst is yet to come\u201d for many economies.
\n\u201cIt\u2019s about recession,\u201d he said in a Bloomberg TV interview. \u201cI also see what central banks are saying and doing.\u201d
\nChina loosened some coronavirus restrictions on Friday, including cutting the amount of time travellers must spend in quarantine. The move boosted oil prices and Chinese stocks. But many analysts doubt there\u2019ll be a rapid reopening of the country.
\n\u201cThe jury is still out,\u201d Prince Abdulaziz said. \u201cThe Chinese authorities are saying they are going to continue to be strict and diligent and follow the same regimentation that they have.\u201d<\/p>\n<\/div>\n

<\/div>\n
\n
\n
<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bloomberg \/ Sharm El-Sheikh Saudi Arabia\u2019s energy minister said Opec+ will remain cautious on oil production, weeks after the group angered the US by lowering output. The 23-nation alliance, led by Riyadh…<\/p>\n","protected":false},"author":1,"featured_media":6461,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[40,46,48,50,57,68,76,77,78,79,80,82,86,87,88,90,95,96,98,99,103,107,109,111,112,114,121,123,137,139,146,148,153,159,174,176,181,182,184,187,196,201,202,203,209,217,221,222,229,231,232,233,239,241,244,246,249,250,251,252,256,262,263,266,268,277,279,280,283,285,288],"class_list":["post-6460","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oil-gas","tag-alleviation","tag-aramco","tag-athens","tag-athensenergydialogues","tag-baroudi","tag-carbon","tag-climate","tag-climate-change","tag-climateaction","tag-climatechange","tag-closure-of-nuclear","tag-co2","tag-cyprus","tag-decarbonising","tag-decarbonization","tag-democracy","tag-disputes","tag-doha","tag-east","tag-eastmed","tag-egypt","tag-embargo","tag-emissions","tag-energy","tag-energy-market","tag-energyindustry","tag-europe","tag-european-fuels","tag-gas","tag-gazprom","tag-greece","tag-greenenergy","tag-hydrocarbons","tag-international","tag-lebanon","tag-liquefied-natural-gas","tag-maritime","tag-maritime-boundaries","tag-maritime-disputes","tag-mediterranean","tag-natural-gas","tag-offshore","tag-oil","tag-oil-and-gas","tag-opec","tag-peace","tag-plants","tag-pollution","tag-poverty","tag-power","tag-putin","tag-qatar","tag-renewable-energy","tag-reserves","tag-rosneft","tag-roudi","tag-russia","tag-russia-in-the-european-energy-sector","tag-russian-gas","tag-russian-sanctions","tag-saudi","tag-solar","tag-solar-power","tag-straddling","tag-sustainability","tag-total","tag-trump","tag-turkey","tag-ukrain","tag-unclos","tag-usa"],"_links":{"self":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts\/6460","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6460"}],"version-history":[{"count":0,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts\/6460\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/media\/6461"}],"wp:attachment":[{"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}