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Saudi energy minister says ready to tweak oil output at any time depending on necessity

Saudi energy minister says ready to tweak oil output at any time depending on necessity

News
By Justin Low
12/02/2024 | 08:17 GMT
  • He reaffirms that they can tweak supply up or down as required by the market
  • Oil demand consistently bigger than some projections
  • Our job is to be attentive to oil demand projections, not to be comfortable with it
  • "Not a fortune teller" when it comes to predicting future oil demand
  • But OPEC numbers have been consistently accurate while others backpedal

The comments are as what you'd expect but oil is nudging a little lower to start the session. WTI crude is down 0.4% to $76.20 on the day, keeping just below its 200-day moving average of around $77.41.

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