OPEC+ agreed at the December 4 meeting to stick to its oil output quotas as the oil markets struggle to assess the effect of sluggish Chinese demand and a G7 price restriction on Russian oil supply.
Saudi Energy Minister Prince Abdulaziz Bin Salman Bin Abdulaziz said that Saudi Arabia was pushing for a further production cut of a few hundred thousand barrels per day (bpd).
Tactical Report has prepared a 336-word report to shed light on what factors came into play that affected the decision, Saudi views on the decision, and the next steps.
