Saudi Energy Minister Prince Abdulaziz bin Salman Al Saud said that the global oil market is in a state of schizophrenia. He said this in an interview with the agency. Bloomberg.
“Without adequate liquidity, markets cannot rationally reflect the realities of physical fundamentals and can create a false sense of security at times when spare capacity is severely limited and the risk of major disruptions is high. Paper and physical markets are becoming increasingly disconnected. In a sense, the market is in a state of schizophrenia,” he said.
He also noted that the transparency of the functioning of the markets is particularly necessary at this time. This allows you to effectively manage risks and adapt to the uncertainties faced by market participants.
Former OPEC Secretary General, Representative of Kuwait Haytham al-Ghais declarationHe said that Russia plays a very important role in maintaining stability in the oil market.
3 August OPEC+ ministers accept About increasing the production of raw materials by 100 thousand barrels per day in September (b / d). It then agreed to increase production for each country by 26,000 (b/d) for Russia and Saudi Arabia.
Then, on August 11, OPEC lowered Forecast for the growth rate of world oil demand in 2022 at 300,000 barrels per day, up to 3.1 million barrels per day.
Source: Gazeta
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