OPEC oil policy reshaped by Aramco's listing

English

After the attempt to limit the oil production over the world, Saudi Arabia expectedly would be leaving the exporter group, in case Vienna's deal not to be completed. 

According to anonymous source, the decision was not only to guarantee that world's energy supply is going well, but also to increase the oil prices in order to enhance Aramco's value at the top of the listing. 

OPEC members & non-OPEC producers, reached agreement to decrease production by approximately 1.8 million barrels /day.

All along, Aramco has been handy in KSA's OPEC strategies, to produce more or less. Industrial sources have mentioned that the company needs to be aware of the interests of western investors.

Chief economist "Fareed Mohamedi" said: "Aramco is the instrument used to manage the market even though it is not involved in making the policy,"

 
Source: 
menafn
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