Reuters conveyed the Financial Times news:
Relations between the US and Saudi Arabia over high oil prices have been cool. The US administration has been, more or less, begging for the Saudis to pump more oil and thus lower the oil price. The Saudis have resisted and have appeared sided much more with Russia.
This now from the Saudis could be indicative of a warming of the relationship with the US, off a cold base admittedly. Which augers well for lower oil prices ahead, if so. With the caveat that many other OPEC members are currently unable to increase output substantially.
Anyway, Thursday's OPEC+ meeting has now become interesting.
