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Amin H. Nasser, CEO of Saudi Aramco, said on Wednesday, “realignment is happening in the oil market with Russian discounts.”
“There are still lots of uncertainties in the market ahead of the planned price cap on Russian oil.”
“The investment in oil is still not sufficient enough to address global demand.”
Meanwhile, Saudi Finance Minister noted, “Saudi Arabia are taking steps to stabilize the energy market.”
WTI was last seen trading near daily highs of $85.62, capitalizing from the relentless sell-off in the US dollar across the board.
