On May 24, both oil prices in the United States and Burundi rose by more than 2% on Tuesday. It was reported that Saudi Energy Minister Abdul Aziz warned investors who bet on falling oil prices at a meeting in Qatar that “the careful.
When I see the Saudi energy minister warning people who are shorting Brent, I think some people will listen,” said Ira Epstein, director of the Ira Epstein division at brokerage Linn GroupUP.
“Oil prices rose this morning, partly due to a tightening gasoline market outlook, though more likely due to warnings from the Saudi energy minister…don’t be surprised if another round of production cuts is proposed at the June 4 OPEC+ meeting. “