Since the beginning of the year, Saudi Arabia has been adopting a voluntary oil production cut strategy to control oil markets and prevent prices from falling to unwanted levels.
However, more is needed from the Kingdom to ensure better market conditions.
This note delves into the Saudi plans for oil production cuts in 2024, including:
- The cartel production quotas
- Reversing falling oil prices
- Several OPEC+ members that Saudi Arabia hopes they cooperate