Saudi Oil Minister: OPEC+ needs to remain cautious with its approach to oil production adjustments despite rising prices OPEC+ is adding 400,000 bpd to its combined output every month Some members have found it difficult to boost production OPEC+ needs to remain cautious with its approach to oil production adjustments despite rising prices, Saudi Arabia’s oil minister Abdulaziz bin Salman told Bloomberg in an interview. Bin Salman noted that higher production is only justifiable when there is a clear purpose for it, which, according to him, was now absent as utilities switching from gas or coal to oil were doing on a very limited scale. The energy minister also said he expected a significant increase in combined OPEC+ oil supply by the end of next year, even without the hypothetical return of Venezuela or Iran to international markets, bin Salman also said. “We don’t take things for granted,” the […]