OPEC seeking ways to minimise adverse effects of oil price hikes

In this interview with Sibel Morrow from Anadolu Agency, Dr Carole Nakhle, CEO of Crystol Energy, comments on the upcoming OPEC+ meeting which will determine ways to minimise the risk of the adverse impact of high oil prices on demand while at the same time balance the factors which may affect the markets in the short-term.

According to Dr Nakhle, although OPEC+ is mostly expected to stick to the plan agreed in July, Saudi Arabia may go the extra mile and display a gesture of ‘goodwill’ by putting unilaterally more oil in the market.

OPEC+ will have to balance between what could be a heating market in the short-term whereby it wants to minimise the risk of adverse impact of high prices on demand and different dynamics in the coming year especially when additional supplies are expected to hit the market.

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