- OPEC+ heavyweights Saudi Arabia and Russia, with their +11 million bpd quotas, are looking at $100 oil as a fair price good for all.
- Russia and Saudi Arabia, who together make up more than half of OPEC+’s total quota, are widely considered the leaders of the OPEC+ group, and a $100 preference could lead to an active defense of this desired floor price.
- As to why OPEC+ seems to have raised its desired floor price, one of Reuters Saudi sources indicated that materials costs have risen with inflation and that crude producers need more revenue to make up for higher production costs.
Saudi Arabia And Russia Both Want $100 Oil
