Saudi energy minister denies output increase discussion -state news agency


Dubai — Saudi Arabian energy minister Prince Abdulaziz bin Salman said the kingdom is not discussing a potential oil output increase with other OPEC oil producers, state news agency SPA reported, denying a Wall Street Journal report earlier on Monday.

“It is well-known that OPEC+ does not discuss any decisions ahead of the meeting,” the prince was quoted as saying, referring to the group’s next meeting in December.

“The current cut of 2 million barrels per day by OPEC+ continues until the end of 2023 and if there is need to take further measures by reducing production to balance supply and demand we always remain ready to intervene.”

Reporting by Maha El Dahan; Editing by David Goodman – Reuters



This article was originally posted at sweetcrudereports.com

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