OPEC+ will have its 31st OPEC and non-OPEC Ministerial Meeting on August 3, 2022 to discuss oil production and current oil market fundamentals.
Saudi Minister of Energy Prince Abdulaziz Bin Salman Bin Abdulaziz believes that in the absence of any shortage of supply, Saudi Arabia should not increase oil production.
However, non-market factors relating to the U.S. President Joe Biden’s recent visit to Jeddah could affect the kingdom’s stance at the OPEC+ meetings.
Tactical Report has prepared a 376-word report to shed more light on the subject.
