Saudi Arabia Says It Will Keep Committing to OPEC+ Oil Cuts

Dark Mode

Tuesday, 19 November 2024

Saudi Arabia Says It Will Keep Committing to OPEC+ Oil Cuts
September 12, 2019, 12:14 pm

Saudi Arabia Says It Will Keep Committing to OPEC+ Oil Cuts

Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman said on Thursday that the kingdom would continue to overcomply with oil output cuts agreed by the OPEC+ producer alliance.

Saudi Arabia's October production would be 9.890 million barrels per day, the Prince said, Reuters reported.

Discussions on deeper cuts would be left to the next OPEC meeting, he noted, adding that there was a clear readiness among OPEC and its allies to be responsive.

For his part, Russian Energy Minister Alexander Novak said a key goal of OPEC+ was to maintain full conformity with the cuts, and that the joint efforts of producers would have a lasting and positive impact on global oil markets.

Saudi Arabia and Russia called on all producers to comply with oil output cuts under an OPEC-led supply deal.

This east is killing us! Turkey’s central bank cuts rates 325 points in second easing move