RIYADH:聽黑料社区鈥檚 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.
The minister added that it is no secret that OPEC + does not discuss any decisions before its meetings, Saudi Press Agency reported.
Prince Abdulaziz said the cartel鈥檚 decision to cut production by 2 million barrels a day will stand till the end of 2023.
He said: 鈥淚f there is a need to take further measures to reduce production to restore balance between supply and demand, we are always ready to intervene.鈥
Meanwhile, the UAE鈥檚 Minister of Energy and Infrastructure Suhail Mohamed Al-Mazrouei denied that his country is 鈥渆ngaging in any discussion with other OPEC+ members to change the last agreement which is valid until the end of 2023.鈥
鈥淲e remain committed to the OPEC+ aim to balance the oil market and will support any decision to achieve that goal,鈥 he said.
