Saudi Arabia And Russia Differ on Oil Strategy Ahead of OPEC+ Meeting

The Kingdom of Saudi Arabia and Russia have all divided overviews on production strategy ahead of the upcoming OPEC+ meeting. Saudi Arabia sees a preference for keeping production steady, but Russia wants to increase supplies, Bloomberg reported.

OPEC+, which includes members of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, is still cutting a total of 7 million barrels per day after the cuts that began in May 2020 to face the supply glut due to the Corona pandemic.