, Columnist
Saudi Arabia's Oil Fears Look Well Founded
The recovery in oil demand is taking a pause.
Is this what we’re going back to?
Photographer: BANDAR ALDANDANI/AFPThis article is for subscribers only.
It’s starting to look like Saudi Arabia’s concerns over the oil demand recovery were well founded.
At the start of the month, the joint leader of the OPEC+ group of oil-producing countries announced a surprise output cut of 1 million barrels a day for February and March. Its co-chair, Russia, pushing for restraints to be eased, was granted a small output increase in each of those two months.