The agency reports that as a result of the banking problem, oil futures on the London Stock Exchange dropped to about $70 per barrel, a 15-month low.
Regarding this, “there have been rumors” that Saudi Arabia and its allies may cut back on production, but as of now, OPEC+ is giving every indication of maintaining quotas, according to Bloomberg.
The OPEC+ monitoring committee’s ministers did not suggest altering the oil output quotas on February 1.
source: bloomberg.com
