Saudi Arabia’s Top Oil Official Claims They Will Be “The Last Man Standing’, Committed to Drill 'Every Last Molecule' - Report

July 22, 2021 9:28 AM EDT

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Saudi Energy Minister Prince Abdulaziz bin Salman, a half-brother of Crown Prince Mohammed bin Salman and arguably the most powerful energy person in the world today, told people at the BofA-organized meeting in June that the Kingdom will be “the last man standing” when it comes to the oil pricing.

Bloomberg also reports that Abdulaziz also committed to drill “every molecule of hydrocarbon” as he continues to shape the oil market and lead the Kingdom's talks with OPEC+ allies.

Abdulaziz is credited with bringing an OPEC+ talks impasse to an end.

“Consensus-building is an art. Why should I divulge it? This is an art, and we keep it between ourselves. We call it a state secret,” he told reporters after the OPEC+ meeting ended.

Bloomberg brings a long-read piece on Abdulaziz, who is thought to be keen to bring OPEC a central bank-level of authority. He reportedly told JPMorgan clients:

“I have copied and pasted what central bankers have done.”

Crude oil price is up 0.57% on the day to trade at $70.70.

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