Saudi Arabia Won’t Cut Oil Production, Even If Prices Stay Low

Saudi Arabia has told other countries and oil experts that it will not cut back on how much oil it produces. The country says it can handle low oil prices for a long time. Oil prices dropped on Wednesday but stayed mostly steady on Thursday. This happened after news came out that Saudi Arabia might increase how much oil it produces and the U.S. economy is getting weaker. On Thursday, Brent crude oil went up a little to $61.13 a barrel, and U.S. crude (called WTI) rose slightly to $58.22. WTI had reached its lowest price since March 2021 the day before. An oil expert, Sugandha Sachdeva, said oil prices might keep going down. This is because people are using less oil and more oil might be produced. She thinks Brent crude could fall to around $55 per barrel. #stockmarket #forextrader #financialfreedom #crypto #investor #trader #forextrading #binaryoptions #stocks #forexsignals #wallstreet #trade #stockmarket #stock #daytrader #forexlifestyle #profit #passiveincome #daytrading #investments #investors