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No external interference in OPEC+ decision, Saudi energy minister says

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15 Jan 2022 12:01:45 GMT9
15 Jan 2022 12:01:45 GMT9

Arab News

RIYADH: The OPEC+ group is independent and against any external interference in its decisions, Saudi energy minister Prince Abdulaziz bin Salman has reiterated.

Speaking on the sidelines of his visit to Azerbaijan, he stressed the responsibility and cautiousness of the alliance, which is made up of Members of the Organization of the Petroleum Exporting Countries and other major oil producers led by Russia.

Prince Abdulaziz pointed out that the OPEC+ policy has succeeded in providing the oil market with the supplies it needs at all times, Al Arabiya reported.

Its decisions have come against a backdrop of pressure from countries such as the US, which want oil production drastically increased to tackle rising prices.

OPEC+ agreed at its 24th meeting on Jan. 4, to keep the production policy unchanged, meaning that the members will commit to increasing production by 400,000 barrels per day next month.

That means Saudi Arabia’s production will reach 10.22 million bpd, with its share of the increase being an additional 105,000 bpd.

OPEC+ agreed to hold the next meeting on Feb. 2.

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