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Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman has denied recent reports stating that the Kingdom is currently discussing an increase in production by 500,000 barrels per day with other OPEC+ producers. He affirmed that it is clear OPEC does not discuss any decisions before its meetings. The UAE energy minister affirmed that his country is “engaging in any discussion with other OPEC+ members to change the last agreement which is valid until the end of 2023.” OPEC remains committed to maintaining balance in the oil markets and global economy.

Saudi energy minister denies output increase discussion

Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman has denied recent reports stating that the Kingdom is currently discussing an increase in production by 500,000 barrels per day with other OPEC+ producers. He affirmed that it is clear OPEC does not discuss any decisions before its meetings. The UAE energy minister affirmed that his country is “engaging in any discussion with other OPEC+ members to change the last agreement which is valid until the end of 2023.” OPEC remains committed to maintaining balance in the oil markets and global economy.

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