Saudis Defend Oil Recovery With Warning for Shorts, OPEC+ Cheats
- Prince Abdulaziz warns short sellers not to test his resolve
- UAE gets a thinly veiled dressing down for over-producing
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Saudi Arabia showed its determination to protect the oil recovery, warning short sellers not to challenge its resolve and delivering a rare public rebuke to a close ally that had been over-producing.
After a meeting with fellow OPEC+ ministers on Thursday, Saudi Energy Minister Prince Abdulaziz bin Salman dropped clear hints that there could be a change of direction in production policy before the group’s next ministerial meeting in December.