Saudi energy minister states production surge negations “not true”
Date
11/22/2022 2:06:22 AM
(MENAFN) Saudi Arabia’s energy Minister Prince Abdulaziz bin Salman has stated that latest reports mentioning that the nation is presently negotiating a surge in output by 500,000 barrels a day with other OPEC+ producers are not true.
The minister also noted that it is already known that OPEC + does not negotiate any verdicts before its gatherings, as reported by Saudi Press Agency.
Prince Abdulaziz mentioned that the cartel’s verdict to reduce output by 2 million barrels per day is going to remain up to the end of this year.
He also stressed: “If there is a need to take further measures to reduce production to restore balance between supply and demand, we are always ready to intervene.”
In the meantime, the UAE’s Minister of Energy and Infrastructure Suhail Mohamed Al-Mazrouei denied that his nation is “engaging in any discussion with other OPEC+ members to change the last agreement which is valid until the end of 2023.”
“We remain committed to the OPEC+ aim to balance the oil market and will support any decision to achieve that goal,” he stated.
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