ICYMI – Saudi Energy Minister says he remains skeptical of Chinese demand forecasts

Saudi Energy Minister Prince Abdulaziz bin Salman spoke in an interview, saying the current OPC+ deal on output levels will remain in place until year-end and that he is wary of forecasts of much higher demand from China.

  • “The agreement that we struck in October is here to stay for the rest of the year. Period,”

On China:

  • “No matter what trends you are looking at, if you follow the cautious approach not only would you see the beginning of a positive trend to emerge but you need to make sure that these positive signals of this market can be sustained,”
  • “The Chinese economy’s unlocking and because of that you will have demand and what have you, but we all went through cycles of openings and lockdowns and therefore what assurances (would we have) and the world have that none of what we went through, all of us, every country, will not be repeated?”

Via Reuters, more at the link.

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