“Oil Markets Could Face A Doomsday Scenario This Week”
June 29, 2022
“Global oil markets are going to be very volatile in the coming months if news emerging from OPEC’s main producers about production capacity constraints turns out to be true…
With a presumed spare capacity of more than 3-4 million bpd, Saudi Arabia and the UAE have always been seen as a point of last resort in case of a major crisis in oil and gas markets…
Global oil markets have long believed that OPEC has enough spare production capacity to stabilize markets, with Saudi Arabia and the UAE just needing to open their taps. There is ,however, no real evidence to suggest that OPEC has increased production capacity in place in the short term…”
https://finance.yahoo.com/news/oil-markets-could-face-doomsday-000000874.html