Saudi Arabia’s Oil Chief Says He’ll Stay Cautious on Output
- Prince Abdulaziz said OPEC+’s strategy has been proved right
- Minister warns sanctions on energy producers will backfire
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Saudi Arabia’s energy minister reiterated that the kingdom will remain cautious about raising oil production, even as several prominent analysts say rising demand will soon cause prices to rise beyond $100 a barrel.
“I will believe it when I see it and then take action,” Prince Abdulaziz bin Salman said on Saturday in Riyadh.