Despite the ongoing Gaza War, oil prices have plunged more than 7% since the Hamas-mounted Al-Aqsa Flood operation on 7/10/2023.
Saudi Crown Prince Mohammad Bin Salman (MBS) and Saudi Minister of Energy Abdulaziz Bin Salman (ABS) believe that this decrease in oil prices is the result of actions from high-level OPEC+ members.
The following note highlights key issues on the following aspects:
- The reason oil prices are decreasing
- The OPEC+ members MBS is displeased with
- MBS and ABS plans to reverse the decline
- Factors that may affect MBS and ABS decision-making
