Oil pressure rising for Saudi Arabia – FT ...News

The Kingdom to agree to pump more oil if Russia’s output falls, the Financial Times reports Saudi Arabia may agree to boost oil production to cool skyrocketing prices if Russia’s output falls significantly under the new EU sanctions, the Financial Times reported on Thursday. The Kingdom, the world’s largest oil producer, has repeatedly rejected demands from the US to raise crude production immediately. According to the FT sources, the Saudi government believes that the situation in global oil markets has not yet become critical and that its spare capacity should be kept in reserve. However, according to the public

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