Middle East

Saudi and Iraq energy ministers meet to review oil markets – Middle East Monitor

Saudi Arabia and Iraq’s energy ministers met on Thursday and stressed the importance of adhering to the OPEC+ production cuts that will last until the end of 2023, the Saudi energy ministry said in a statement on Friday. Reuters report.

Iraq’s Energy Minister Hayan Abdelghani met with Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman beginning Wednesday.

Both sides also noted their “ability to take further steps to achieve market balance and stability, if necessary,” according to the statement.

OPEC+, an alliance that groups members of the Organization of the Petroleum Exporting Countries (OPEC) and their allies, including Russia, will meet next in Vienna on December 4.

At the last meeting on October 5th, 2 million barrel cut A date was agreed.

Prince Abdulaziz said earlier this week that the group was ready to take further steps if necessary to balance supply and demand.

read: Saudi denies arguments to boost oil production, says OPEC+ may cut if needed

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https://www.middleeastmonitor.com/20221125-saudi-iraq-energy-ministers-meet-review-oil-markets/ Saudi and Iraq energy ministers meet to review oil markets – Middle East Monitor

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