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OPEC contemplating a manufacturing lower that doesn’t appear to be a manufacturing lower – WSJ

Citing a senior Saudi oil advisor, the Wall Avenue Journal reported that Saudi Arabia and OPEC have been contemplating a manufacturing lower “that does not appear to be a manufacturing lower.”

“Beneath such a situation, the Group of the Petroleum Exporting International locations would announce plans to retain present output targets, first set in 2016,” stated the WSJ’s Benoit Faucon and Summer time Mentioned. “That transfer would suggest a manufacturing pullback as a result of Saudi Arabia is overproducing by practically 1 million barrels a day, in keeping with folks acquainted with the matter.”


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