Oil Slides on Report Saudi Arabia May Boost Production

The transcript discusses Saudi Arabia's potential increase in oil production if Russian output falls due to sanctions. The Financial Times reported that Saudi Arabia and the UAE might announce an immediate output push at the OPEC meeting. The discussion highlights the global supply ramifications, given Russia's status as a top crude producer. The OPEC meeting will address July supplies, with questions about whether Saudi Arabia and the UAE can compensate for Russia's reduced output.

What factors are influencing the discussions at the OPEC meeting?

How might the EU deal affect Russia's oil supply?