Saudi Arabia appreciated the role of OPEC + in the global oil market

DOHA, Oct 11 – PRIME. The Cabinet of Ministers of Saudi Arabia at its weekly meeting on Tuesday declared the key role of OPEC + in achieving balance and stability in the global oil market, the Saudi News Agency said in a statement following the meeting.

“The Cabinet of Ministers considered the results of the meeting of the countries participating in the OPEC + agreement, noting the key role of the alliance in achieving balance and stability in the global oil market and, in turn, in supporting the global economy,” the agency cites the conclusion of the Saudi government.

Last week, the oil-producing countries of the OPEC+ alliance, at their first face-to-face meeting in Vienna since the start of the pandemic in 2020, agreed to cut production by two million barrels per day starting in November, extending the deal until the end of 2023.