Saudi Energy Minister Abdulaziz bin Salman underscored on Sunday that OPEC+ is not "targeting" a certain price range of the commodity, stressing that this strategy always "failed miserably."
"We don't like neither short-term, mid-term or long-term volatility," the Saudi energy minister said during the press conference. "We saw what lower prices did to the industry," the minister stated, adding that Saudi Arabia will keep the market guessing about its next step, hinting that the unilateral "lollipop" cut of 1 million barrels per day might be extended past July.
"We continue to set the example of how much one needs to be transparent in order to achieve the most...dominant and more important priorities, which is seeking stability and sustainability," he argued.
