If hydrocarbon prices remain high, Saudi Arabia may begin to increase oil production. The Kingdom reported this to the United States. The publication reported this Wall StreetJournal.
According to media reports, Riyadh’s move is aimed at gaining Congress’ support for the deal. According to the agreement, Saudi Arabia is expected to recognize Israel and re-establish the defense agreement with the United States.
Representatives of American officials have already visited Saudi Arabia, including Amos Hawksteen, the State Department’s senior adviser for global energy security. The American side stated to the royal officials that the situation of rising fuel prices would negatively affect Washington’s support to Riyadh.
Saudi officials announced that they plan to base the issue of oil production volumes on the current state of the market.
Previously in BCS statedIn the base scenario, the Brent barrel price is predicted to be 90 dollars next week.
Previously recognizedWhen oil prices fall to $50 per barrel.