Saudi energy minister: no foreign interference in OPEC + decisions

On the sidelines of his visit in Azerbaijan, Saudi Minister of Energy, Prince Abdulaziz bin Salman, stressed the independence of the OPEC Plus group against any external interference in about his decisions, explaining the group’s confidence in acting in responsible and prudent way.

He stressed that OPEC Plus policy has been successful in providing the oil market with the supplies it needs in every moment.

Regarding the agreed monthly increases in oil production, the minister indicated that such increases may or may not occur, and that this is due to the group’s assessment of market conditions, underlining that in the OPEC Plus collection there are more instruments to be used. to manage the market in light of the presence of many variables.

He praised the rate standard commitment to the production levels achieved by the group.

On January 4, at the 24th meeting of the OPEC Plus group, it was agreed to keep the production policy unchanged, which means that the members will commit to increasing production by 400,000 barrels per day next February.

In February, Saudi Arabian production will reach 10.22 million barrels per day, with its share of 105,000 barrels per day increasing over the month. in course. It was decided to hold the next meeting on February 2nd.

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