BP Chief: Saudi Arabia Is Holding Back Production
Zero Hedge -

Authored by Tsvetana Paraskova via Oilprice.com,

“I think Saudi Arabia does have capacity that can bring to the market,” BP’s chief executive Bob Dudley told CNBC on Wednesday on the sidelines of the Oil & Money Conference in London.

“But on the other side of it you have very unpredictable circumstances in Venezuela and of course, with the Iran sanctions,” Dudley noted, commenting on the current market forces driving the oil prices.

As the start date of the U.S. sanctions on Iran’s oil...

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