Saudi denies oil output hike discussion, says OPEC+ may cut if needed
21 Nov 2022; MEMO: Saudi Arabia, on Monday, said that OPEC+ was sticking with oil output cuts and could take further measures to balance the market amid falling prices, denying a report it was considering boosting output, according to state news agency, SPA, Reuters reports.
The Wall Street Journal, earlier on Monday, reported an output increase of 500,000 barrels per day was under discussion for the next meeting of OPEC and its allies, known as OPEC+, on 4 December. The report cited unidentified OPEC delegates.