Saudi energy minister Abdulaziz bin Salman on Oct. 5, 2022.
"There are so many other things, you know, growth in China, what is happening in Europe, growth in Europe … what is happening in the U.S. economy, such as interest rate, inflation," the Saudi energy minister said Friday.
"Another delay, which we would not rule out, would leave the market broadly in balance next year," they said.
Demand has been at the forefront of OPEC+ considerations, with the OPEC's November Monthly Oil Market Report seeing 1.54 million barrels-per-day of year-on-year growth in 2025.
The Paris-based International Energy Agency, meanwhile, last month forecast that world oil demand will expand by 920,000 barrels per day this year and just under 1 million barrels per day in 2025.
Persons:
Abdulaziz bin Salman, CNBC's Dan Murphy, Donald Trump —
Organizations:
Saudi Energy, Barclays, Bloomberg, Getty, HSBC, OPEC, International Energy Agency
Locations:
OPEC, U.S, Saudi, China, Iran, Europe, Paris