Riyadh mulls shift in oil policy to raise output and target market share

Saudi Arabia is said to be considering dropping its unofficial price target of $100/bbl in favour of chasing market share. Concerns around the wars involving Israel and Iran and its proxies could help to sustain oil prices, although there is a risk of a disorderly break-up of the Opec+ agreement between oil cartel Opec and other major producers including Russia.