Saudi Arabia's Production Cut Sends Warning to Oil Short Sellers.
TL;DR Summary
Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman warned oil short sellers that they would "be ouching" and now the nation has made a production cut of 1 million barrels per day, which could be extended if necessary. OPEC+ has also agreed to extend output cuts into 2024. For those looking to invest in energy stocks, Wall Street finds Exxon Mobil, Devon Energy, and Occidental Petroleum particularly attractive.
- 'They Will Be Ouching': Saudi Energy Minister Warned That Oil Short Sellers Would Feel Pain — Now The Nation Has Made A Production Cut Of 1 Million Barrels Per Day Yahoo Finance
- Russia and Saudi Arabia's Oil Partnership Shows Strain The New York Times
- Oil prices fall, reversing rise after Saudi production cut CBS News
- Saudi Arabia's solo oil production cut is a risky strategy The Japan Times
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