OPEC+ cuts will swing the oil market’s pendulum very soon: Saudi Prince Abdulaziz

Deep OPEC+ production cuts, led by Saudi Arabia, into a skeptical market have yet to lift oil prices, but traders will soon come around, once evidence emerges of tightening fundamentals, the kingdom’s energy minister said July 5. Global oil demand is rising, central bankers are working to tame inflation, and OPEC+ output restraint will turn the tide of “exaggerated negativity”…