Energy minister urges oil producers to comply with output cuts

12/09/2019 Argaam

 

Saudi Arabia’s energy minister Prince Abdulaziz bin Salman has called on all oil producers to comply with output cuts, Reuters reported on Thursday.

 

The Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) are seeking to stabilize the oil market.

 

The Kingdom will keep its oil policy ‘unchanged’, Prince Abdulaziz said, adding that OPEC+ will announce its future plans following the 16th Meeting of the Joint Ministerial Monitoring Committee (JMMC) today.

 

On the other hand, Russian Energy Minister Alexander Novak said the joint efforts of producers would have a lasting and positive impact on global oil markets, noting a key goal of OPEC+ is to maintain full conformity with the cuts.

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