Why OPEC Won’t Open The Taps

Middle Eastern OPEC producers have no plans to increase production beyond their OPEC+ quotas, a gathering of ministers this weekend has made clear. The energy minister of the biggest oil producer in the cartel, Saudi Arabia, said that the pandemic had taught oil-producing nations one thing, and that was caution, Reuters reports. "Caution, a word that I know some people hate me for, but... I will continue being cautious and (mindful of) the need to retain flexibility in our strategy and adopt a long-term perspective," Prince Abdulaziz bin Salman…