Saudi Arabia, the world's largest oil exporter, is preparing to withdraw from the unofficial oil price target. According to the media, this move may cause oil prices to fall.
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The unofficial oil price target refers to: the crude oil exporting member OPEC maintains and adjusts the price level through its own production.
Saudi Arabia's withdrawal from the unofficial oil price target means that Saudi Arabia will not maintain the price through its own adjustment and production. The media believes that this will lead to a drop in oil prices.
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What impact will Saudi Arabia's withdrawal from the unofficial oil price target have? The problem is very complicated. This is not only an impact on oil prices, but also reflects many problems. If there are more crude oil exporters who withdraw from the unofficial oil price target, the price of crude oil may be repriced.
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