Even if Saudi Arabia and other leading oil-exporting countries cut their production targets this week, spurning U.S. efforts to keep supplies flowing, the move may barely register in global oil prices. Here's why
Even if Saudi Arabia and other leading oil-exporting countries cut their production targets this week, spurning U.S. efforts to keep supplies flowing, the move may barely register in global oil prices.
An output cut by Saudi Arabia and its allies would reinforce the growing perception that Crown Prince Mohammed bin Salman of Saudi Arabia and President Vladimir Putin of Russia are working closely together to manage oil markets. That is not what President Joe Biden had in mind when he visited Saudi Arabia in July, shared a fist bump with Crown Prince Mohammed and called for more production.
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