The Saudi Energy minister said they may need to tighten oil output to stabilize the market.
Just three weeks ago, OPEC+ increased production quotas by 100k bpd. Now they're already talking about curbing output.
Abdulaziz said the disconnect in oil futures may prompt OPEC+ action. I think what he's referring to is the lower oil foward curve. The problem is that it disincentivizes investments in future production.
Oil has jumped on the headline but still remains deeply lower today.
