Saudi Arabia is standing firm against the growing clamor from oil market participants to accelerate the easing of Opec+ production cuts. Energy Minister Prince Abdulaziz bin Salman played down the market need during this week’s CeraWeek India Energy Forum, pointing instead to serious shortages of gas and coal.

“Unfortunately, for the first time, we see our role [Opec+] as extremely limited. Why? Because the issue is not the availability of crude oil,” said the Saudi Minister. (CONTINUED - 573 WORDS)