Saudi Arabia wants accelerated OPEC+ oil supply increases, Bloomberg reports

Saudi Arabia wants OPEC+ to enact accelerated oil supply increases in the coming months as it places greater importance on reacquiring market share, Bloomberg’gs Salma El Wardany and Fiona MacDonald report. The kingdom, which holds a particularly dominant position within OPEC+, seeks an addition of at least 411,000 barrels per day in August and possibly September, the authors note. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Shell (SHEL) and TotalEnergies (TTE).