Balanced News: Saudi oil minister warns market speculators to ‘watch out’ ahead of OPEC+ meeting

Saudi oil minister Prince Abdulaziz bin Salman has warned market speculators to “watch out” ahead of the next OPEC+ meeting on 4 June. Abdulaziz has previously criticised oil price speculators who profit from predicting the output decisions of OPEC+. Several members of the OPEC+ alliance have announced they will cut their crude oil production by a combined 1.6 million barrels per day, a move that briefly boosted prices. However, prices have since been depressed by banking turmoil, recessionary signals and a slower-than-expected Beijing reopening.