'Saudi Minister Warns Of $50 Oil As OPEC+ Members Flout Production Curbs; OPEC+ Producers Agreed To Ease Output Cuts After Kingdom Issued A Veiled Threat Of A Price War Against Cheaters' - WSJ
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The Saudi oil minister has warned that oil prices could fall to $50 per barrel if OPEC+ members do not adhere to production limits. This statement is seen as a threat of a potential price war to maintain market share.
October 02, 2024 | 3:58 pm
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The United States Oil Fund (USO) may experience volatility due to the Saudi oil minister's warning of potential $50 oil prices if OPEC+ members do not adhere to production limits.
USO, which tracks oil prices, could be negatively impacted by the potential drop in oil prices to $50 per barrel if OPEC+ members do not comply with production limits. The threat of a price war adds to the uncertainty, likely causing short-term price volatility.
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