Saudi Arabia has threatened an oil war OPEC+, if they do not fulfill the agreement on production cuts, writes The Wall Street Journal , citing sources.
According to sources, the energy Minister of Saudi Arabia Prince Abdulaziz bin Salman recently issued an ultimatum to Angola and Nigeria, asking them to submit plans for additional cuts, compensated for unfulfilled commitments.
The Minister also informed the country that Saudi Arabia may begin to sell oil at reduced prices to undermine Angola and Nigeria.
Fluctuations in the oil market began on March 6, when members of the OPEC meeting+ are unable to reach a unanimous decision. After the failure of the transaction the price of oil fell by 30%. According to the deal, concluded in may, the member countries of the OPEC agreement+ cut production of 9.7 million barrels a day in may-June, 7.7 million in the second half of the year and 5.8 million next until the end of April 2022. Then oil prices began to rise.