OPEC+ should know high prices will test Asia's oil appetite

Producers group ought to respond quickly to signs of supply-demand imbalance

Vandana Hari

October 9, 2023 05:00 JST

A tanker unloads its cargo of imported oil at Yantai, China in June: The country is the world's largest net buyer of crude. (FeatureChina via AP Images)

Vandana Hari is founder of Vanda Insights, a Singapore-based global energy market intelligence provider.

Prince Abdulaziz bin Salman, Saudi Arabia's energy minister, routinely reminds the world that the primary objective of the OPEC+ producers' alliance is to maintain oil market stability.