InvestorQ : Is it true that Saudi Arabia is planning to flood the market with oil? What could be the implications?
Mahima Roy made post

Is it true that Saudi Arabia is planning to flood the market with oil? What could be the implications?

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Aditi Sharma answered.
1 year ago
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With the OPEC supply pact collapsing, Saudi Arabia is looking at massive price cuts and a surge in its production. Saudi Arabia had proposed cutting crude oil supply by extra 150,000 barrels per day but Russia was not open to such a major cut. With the deal falling through, Saudi Arabia may not have much of a choice other than to hike output and cut prices. The primary focus for Saudi Arabia and the rest of OPEC would be to maintain market share even if it meant lower price realizations.

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