OPEC+ countries supported the decision to significantly reduce oil production

MOSCOW, 17 Oct – PRIME. On Sunday, OPEC+ nations spoke out in support of a major production cut earlier this month. Earlier, the White House accused Saudi Arabia of forcing some other cartel countries to cut production.

Bahrain assessed the motives of the OPEC + decision to cut production

Last week, the US authorities said that the decline in production would lead to an increase in Moscow’s income from oil exports, and also accused Saudi Arabia of political interest. However, Riyadh on Sunday denied accusations of supporting a Russian special operation in Ukraine.

Saudi King Salman bin Abdulaziz said that the kingdom is doing everything possible to maintain stability and balance in the oil markets. For these purposes, the OPEC+ alliance, which includes OPEC and other leading producing countries such as Russia, establishes and maintains relevant agreements, he said.

In addition, the 2 million barrels per day cut to the oil production target agreed on October 5 was passed unanimously and is based on economic factors, even with limited supply in the oil markets, said Prince Khalid bin Salman, Saudi defense minister and King Salman’s son.

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The ministers of some OPEC+ countries, including the United Arab Emirates (UAE), adhere to the same opinion.

“I would like to clarify that the recent OPEC+ decision, approved unanimously, is purely technical in nature, without any political overtones,” UAE Oil Minister Suhail Al Mazrui said in a tweet.

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