Oil Prices Could Plunge to $50, Saudi Arabia Warns Non-Compliant OPEC Members

Petrol

25 According to insiders within the Organisation of the Petroleum Exporting Countries (OPEC), Saudi Arabia’s message has been interpreted as a veiled threat, hinting at the kingdom’s willingness to initiate a price war if non-compliant countries continue to violate production limits. Such an aggressive move could undermine oil prices in an effort to protect Saudi Arabia’s share of the global oil market. The OPEC+ alliance, which includes OPEC members and their allies, has faced growing internal

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