OPEC+ agreement ‘unprecedented’, not aiming for specific oil price: Energy minister

Minister of Energy, Prince Abdulaziz bin Salman

Minister of Energy, Prince Abdulaziz bin Salman, said today, June 4, that the OPEC+ agreement is “unprecedented”, adding that the meeting was constructive and contributes to the stability of oil markets.

In a press conference after the OPEC+ meeting, Prince Abdulaziz said the decision will help stabilize markets and prevent sharp volatility. OPEC+ is not aiming for a specific oil price.
 

OPEC and its allies agreed on June 4 to set a new production target at 40.46 million barrels per day (bpd) from January-December 2024, OPEC+ said in a statement.

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