Saudi Energy Minister Prince Abdulaziz bin Salman said on Monday that a new OPEC+ mechanism for assessing members’ maximum output capacity will help stabilize markets and reward producers that invest in expanding supply. On Sunday, OPEC+ approved the mechanism, which will determine members’ maximum production capacity for setting output baselines from 2027, OPEC said. Prince Abdulaziz called the system “fair and transparent” and said it offers “the most detailed, technical and transparent approach” for managing the market and setting future production levels. “Yesterday was probably one of the most successful days in my personal career, and I am very grateful for the support of our friends in Russia,” he added during the launch of a Saudi-Russian business forum in Riyadh.