Consensus Reflected in OPEC+ Production Targets, says Saudi Foreign Minister

Saudi Foreign Minister Prince Faisal bin Farhan Al Saud said on Tuesday that decisions on oil production taken by OPEC+ countries reflect consensus within the alliance and that the Kingdom believes its current policy based on not increasing production questyear is correct.

“We always say we are committed to a stable market… (the energy minister) believes the market doesn’t need any changes in output until the end of the year,” the minister told reporters in London.

He added: “All decisions in OPEC and OPEC+ are made through a very intense dialogue between all partners…Every statement I see from all partners in OPEC+ reflects that consensus,” referring to member states of the Organization of the Petroleum Exporting Countries (OPEC) and other countries, including Russia.

He said reports of a divergence in relations with the UAE are exaggerated.