Core Viewpoint - Crude prices have decreased this year due to increased output from Riyadh, but the oil-producing kingdom faces significant risks [1] Group 1 - Crude prices have fallen this year as a result of Riyadh raising its oil output [1] - The increase in output from Riyadh has contributed to the decline in crude prices [1] - The oil-producing kingdom is encountering various risks despite the rise in production [1]

Crude oil prices were on course to book their steepest decline in four months following reports that OPEC+ was about to extend its production boost for another month at its Sunday meeting. At the time of writing, Brent crude was trading at $64.53 per barrel, with West Texas Intermediate at $60.86 per barrel. Both were up slightly from Thursday’s close but had been trending lower since Monday, with Brent crude shedding 8.3% since the start of the week and WTI declining by 7.6%, according to Reuters. The ...