Saudi Reaffirms Commitment To OPEC+ Precautionary Measures ; Saudi Cabinet: Kingdom To Continue Boosting OPEC+ Precautionary Efforts To Support Stability Of Oil Markets
Portfolio Pulse from Happy Mohamed
Saudi Arabia has reaffirmed its commitment to OPEC+ precautionary measures and will continue to boost efforts to support the stability of oil markets, according to the Saudi Cabinet.
August 08, 2023 | 1:14 pm
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The reaffirmation of Saudi Arabia's commitment to OPEC+ measures could potentially stabilize oil prices, which may impact the United States Oil Fund (USO).
Saudi Arabia is a major player in the oil market. Its commitment to OPEC+ measures aimed at stabilizing oil prices could potentially lead to a more predictable oil market. This could impact the US Oil Fund (USO), which tracks the price of oil, by potentially leading to more stable returns.
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