Saudi Arabia will not increase its oil production and raises doubts about demand. The reversal in the plan of the world's leading exporter comes in the midst of the emergence of the electric car and at a time of weakness in consumption.
The price of Brent crude oil—the benchmark in Europe—barely reacted this Tuesday and was trading practically flat, with the shares of the main Western oil companies rising. The decision could lead to a drop in Aramco's investment in exploration and production in the coming years, which it will announce in March.