{"id":516177,"date":"2022-08-23T10:32:31","date_gmt":"2022-08-23T05:02:31","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=516177"},"modified":"2022-08-23T11:33:34","modified_gmt":"2022-08-23T06:03:34","slug":"opec-has-means-to-deal-with-oil-volatility-saudi-arabia","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/opec-has-means-to-deal-with-oil-volatility-saudi-arabia\/","title":{"rendered":"OPEC+ has &#8216;means&#8217; to deal with oil volatility: Saudi Arabia"},"content":{"rendered":"<p>OPEC leader Saudi Arabia&#8217;s energy minister said Monday that the oil cartel and its allies have the means to deal with market challenges &#8212; including by &#8220;cutting production&#8221;.<\/p>\n<p>&#8220;OPEC+ has the commitment, the flexibility, and the means within the existing mechanisms&#8230; to deal with such challenges including cutting production at any time&#8221;, Prince Abdulaziz bin Salman said in an interview with Bloomberg, according to Saudi state news agency SPA.<\/p>\n<p>The Saudi-led Organization of the Petroleum Exporting Countries (OPEC) consists of 13 members. <\/p>\n<p>OPEC and 10 allies led by Russia &#8212; a group known as OPEC+ &#8212; agreed last month to raise production by 100,000 bpd in September following Western calls for more output after Russia&#8217;s war in Ukraine and a post-pandemic surge in demand sent crude prices soaring.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>OPEC leader Saudi Arabia&#8217;s energy minister said Monday that the oil cartel and its allies have the means to deal with market challenges &#8212; including by &#8220;cutting production&#8221;. &#8220;OPEC+ has the commitment, the flexibility, and the means within the existing mechanisms&#8230; to deal with such challenges including cutting production at any time&#8221;, Prince Abdulaziz bin Salman said in an interview with Bloomberg, according to Saudi state news agency SPA. The Saudi-led Organization of the Petroleum Exporting Countries (OPEC) consists of 13 members. OPEC and 10 allies led by Russia &#8212; a group known as OPEC+ &#8212; agreed last month to [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[146,130,177],"tags":[],"class_list":["post-516177","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/516177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=516177"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/516177\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=516177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=516177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=516177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}