BREAKING: The decision to delay oil output increases was a "reality check" that OPEC+ had to attend to, Saudi Energy Minister Prince Abdulaziz tells CNBC. #oil

@LiveSquawk They are a cartel. The single indisputable reason to own an EV - not climate change or anything else.

Well said, he make everything clear 👌 OPEC+ works to balancing the supply and demand and bring stability to the oil market

adding 2.5mn bpd is "not possible". LOL they still plan on adding 1mn+ from April to December even though surplus is expected to already be close to that. when price falls to $50 what will then do then? keep cutting? no real strategy here just death by 1000 cuts. they should have just flooded the market and deal with the problem once and for all even if it takes a few years to recover. non-opec Investment needs to be reined in and future investment put on permanent ice.

Pippa you ok? Seem very very off

Not a shocker. Oil demand is stagnating and renewables are gaining traction.

By keeping prices at 70 bucks and above, OPEC provides a great catalyst for the #EnergyTransition

SA cannot say anything else...otherwise the market would crash. Oil fundamentals have been terrible since China began its 2 yr lockdown. China economy is a disaster and will take 10+ yrs to recover. Oil is going to $40 before it sees $80 (if it ever sees that).