Fear of an oversupply of oil has sent both WTI and Brent falling this week as reports suggest Saudi Arabia is considering returning to a strategy of pursuing market share rather than supporting prices. While China’s economic stimulus measures and US hurricanes have provided support, the prospect of increased Saudi production has overshadowed these factors.
Fear of an oversupply of oil on the back of reports that Saudi Arabia is considering returning to its strategy of pursuing market share rather than supporting prices has sent both WTI and Brent falling this week.
The chief executive of EQT NYSEEQT confirmed that the United States’ largest gas producer would be reversing some output curtailments implemented earlier in 2024 on the back of lower gas prices, preparing for a surge in LNG feedgas demand. Kazakhstan Wants Billions from Oil Majors.
Oil Prices Saudi Arabia OPEC Oversupply Market Share
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