Tuesday, November 28, 2023

Saudis boost crude prices

Saudi Arabia raised April pricing for crude exports eastward to the highest levels since just before they instigated a brief price/supply war a year ago. The Organization of Petroleum Exporting Countries and allies decided at a meeting March 4 that it would be sticking with output cuts that have buoyed the market this year. Meanwhile, Russia wants to add production to prevent U.S. producers from adding output and capturing market share, Bloomberg reports.



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