Is Opec+ about to cut oil output again? Don’t rule it out

Saudi Arabia insists Opec remains “ready to intervene” in the market. – Reuters

AS in politics, a week is an awfully long time in the oil market.

Seven days ago, Saudi Arabia was denying a report that the members of the Organisation of Petroleum Exporting Countries and its allies (Opec+) were discussing an output increase ahead of their meeting this weekend.