OPEC Secretary General called the alliance’s decision to reduce oil production timely

CAIRO, Oct 15 – PRIME. OPEC+’s decision to cut oil production was correct and timely, OPEC Secretary General Haytham al-Ghais said.

“OPEC+’s decision to cut oil production was correct and timely,” al-Geis was quoted as saying by Al Arabia TV channel.

Last week, the countries participating in the OPEC + deal, led by Saudi Arabia and Russia, decided to reduce oil production by two million barrels per day, starting in November, extending the deal until the end of 2023, which caused discontent of the US administration, which demanded an increase in oil production.

The Saudi Foreign Ministry issued a statement that the OPEC + decision was dictated solely by economic considerations, and it was accepted by all countries participating in the deal, the agency rejected US accusations of supporting Russia with such a decision at a time when Western countries seek to reduce dependence on Russian energy resources.