Major oil consumers are crying out for Opec+ to provide the market with more oil in a bid to push down prices, but UK Prime Minister Boris Johnson’s trip to Abu Dhabi and Riyadh this week appears to have been fruitless.
Mr Johnson said it was imperative that the West ends its “addiction” to Russian oil and gas and headed to the Middle East in a bid to secure fresh supplies. But despite the UAE having seemed to wobble last week (MEES, 11 March, the message from Abu Dhabi and Riyadh was one of continued commitment to the Opec+ strategy of increasing its production ceiling by just 400,000 b/d each month. (CONTINUED - 970 WORDS)
